Paldo! Filipino Solana Faithfuls Secure Big Airdrops from Magic Eden’s $ME
Following the recent launch of NFT marketplace Magic Eden’s $ME through a token airdrop, long-time Filipino Solana enthusiasts reported receiving significant rewards, with one even receiving more than a million pesos.
What’s the significance: The airdrop demonstrates Magic Eden’s commitment to decentralizing its platform governance and incentivizing active community engagement, making it a noteworthy event for NFT traders, creators, and collectors.
Key Details: In a Facebook post, George Isaac Asibal, the CEO of trading organization ZFT that received criticisms for a ₱3,000 crypto airdrop seminar fee, shared screenshots from his community members that received big airdrops.
- This includes one individual receiving $ME tokens valued at ₱1.3 million.
- Another getting over $7,900, or approximately ₱460,000.
- One with $1,900, or around ₱110,000.
- Another with 27 $SOL, worth about ₱12,000.
What is Magic Eden: It is a decentralized NFT marketplace on the Solana blockchain, recognized for its fast transaction speeds and low fees.
- The platform has since broadened its scope, now supporting NFTs on Ethereum, Polygon, and Bitcoin.
- Recently, it introduced a decentralized exchange (DEX) for Bitcoin-based runes that are created as meme coins.
Worth Reading: Read about $ME’s tokenomics and the recent airdrop in this BitPinas article.
The numbers: As of writing, CoinGecko data shows that $ME is currently priced at ₱247.03, down by almost 75% since launch.
How it works: To qualify, users need to demonstrate organic activity, cross-chain engagement, and consistent loyalty.
- Using multiple wallets may also increase a user’s allocation.
- Rewards tiers are based on user activity; higher engagement means higher rewards.
- Claiming Process: Tokens can be claimed via a time-bound portal.
- Unclaimed tokens will be reallocated.
- However: Some users may not qualify due to insufficient cross-chain activity or inconsistent platform usage, potentially missing out on rewards.
Worth reading: In addition, there are also other recent moves to expand Solana’s use cases; in October, Canary Capital filed with the U.S. SEC to launch a spot Solana ETF, becoming the third firm to propose a Solana-focused fund, offering exposure to the cryptocurrency without direct holdings.
This article is published on BitPinas: Filipino Solana OGs Get Big Airdrops from Magic Eden’s $ME
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