Magic Eden, the Solana-based NFT marketplace, launched its native ecosystem token $ME through the ME Foundation at 9:00 AM EST on Dec. 10. The $ME token rollout includes a supply cap of 1 billion, with 125 million available for claim by users until Feb. 1, 2025. Of this supply, 50% is reserved for community incentives, with 12.5% allocated for the initial airdrop. The remaining 50% is being allocated to contributors and strategic participants. At the time of publishing, the token is trading at $4.69, which is a 72.4%% decrease since going live earlier this morning, according to CoinGecko data . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io