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Magic Eden: Starting from February 1st, 15% of revenue will be used for ME token buyback and ecosystem development
BlockBeats News, January 19th, Magic Eden announced that starting from February 1st, they will directly allocate 15% of their revenue to the ME token ecosystem. This portion of the revenue will be evenly distributed, with 50% used to buy back ME tokens on the open market and 50% distributed to ME stakers in the form of USDC based on staking weight.
The existing "market trading fee only" ME buyback mechanism will be upgraded to cover a full ecosystem revenue distribution system. Staking weight will depend on the staking amount and duration, USDC rewards can be claimed monthly, with the first claim (corresponding to the February event) opening in March, and rewards must be claimed within 90 days.
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