This content is for educational purposes only and should not be considered financial advice or an inducement to buy, sell, or trade cryptoassets.
Magic Eden's platform offers users the opportunity to earn rewards in $ME tokens through staking and completing quests. If you're holding $ME and want to maximize your participation in the ecosystem, here's how to get started:
What is the 'Earn' feature?
The Earn button on the Magic Eden platform enables users to earn rewards in $ME tokens by:
Staking tokens: Lock up your $ME tokens to earn staking power and multiplier rewards.
Completing quests: Participate in platform activities to enhance your staking power and earn more rewards.
With the Earn feature, you can actively contribute to the Magic Eden ecosystem while growing your rewards.
How to stake $ME tokens
Connect your Wallet: Ensure your wallet is connected to the Magic Eden platform and that you hold $ME tokens.
Navigate to the Earn tab: Click the Earn button on the Magic Eden platform (magiceden.io/earn).
Choose amount to stake: Enter the amount of $ME tokens you wish to stake. Options like Half or Max are available for convenience.
Set a lockup period: Adjust the lockup duration using the slider. Longer lockup periods provide higher multipliers, increasing your staking power.
Confirm Your stake: Review the details, including the stake end date, total staked, and your staking multiplier. Click Stake to confirm.
Once staked, your $ME tokens will be locked for the selected period, and your staking power will update accordingly.
Example: Staking $ME tokens
You stake 1 $ME Token for a 7-day lockup period.
Your staking power increases by 1.07, reflecting a 108% multiplier.
You'll receive a confirmation: "You staked additional 1 $ME and extended your lockup period."
Withdrawing staked tokens
Navigate to the Withdraw Tab: Click on the Withdraw button within the Earn interface.
Review Details: Ensure your unlock period has ended.
Confirm Withdrawal: Click Withdraw to remove your staked tokens.
Withdrawing before the end of the lockup period will disqualify you from ongoing $ME emission quests.
Completing Quests for rewards
Quests are an additional way to earn $ME tokens and boost your staking power.
New quests are continuously released, so stay active to maximize your earnings.
By completing quests, you can influence key decisions within the Magic Eden ecosystem while earning more rewards.
Using the Earn button to track rankings and rewards
The Earn button on the Magic Eden platform also allows you to view your quest progress, staking details, and ranking tiers in real time.
What can you see with the earn button?
Quest Rankings:
View your current ranking percentile (e.g., Top 1%, Top 5%, Top 10%).
Rankings are based on your quest activity, staking power, and contributions.
Tier Progress:
The Earn interface highlights where you stand in the ranking tiers:
Top 1%: Highest contributors with maximum rewards.
Top 5%, Top 10%, Top 20%, and beyond: Rewards decrease progressively based on rank.
Real-Time Updates: Rankings are updated daily at 10 AM PDT to reflect your latest progress.
Tip: Complete more quests and increase your staking power to climb to a higher tier. Rewards are distributed linearly based on your rank.
Why rankings matter
Your quest ranking determines the amount of $ME rewards you receive at the end of each Chapter (90 days). The higher your rank, the greater your rewards.
Example: Players in the Top 1% earn the largest share of $ME tokens, while those in the Top 10% receive smaller, but still valuable rewards.
Improving your rank
Stake more $ME: Increase your staking amount or lock it for a longer duration to boost multipliers.
Complete more Quests: Engage with all available quests, especially Perpetual Quests, to maximize your score.
Stay active: Log in weekly, complete swaps, and trade NFTs regularly to maintain progress.
If you need help, reach out via our Help Center. Just use the chat widget!