Magic Eden launches Season 2 reward program

The NFT market Magic Eden has just launched Season 2 of its reward program, aiming to encourage users through a clearer and more accessible structure. This program currently focuses on trading volume and staking power, allowing participants to concentrate on their favorite activities while still being able to rank up on the regularly updated leaderboard.

Valid activities include buying or selling NFTs, performing token swaps, and trading Runes based on Bitcoin, with all supported blockchains counted towards the rewards. Notably, only native listings on Magic Eden are eligible, and unnatural transactions may be penalized. The announcement also emphasizes that the rankings will be refreshed hourly, creating a high-competitive environment.

Staking plays an important role, with rewards increased based on both the amount staked and the locking time. The Magic Eden team stated that users can link multiple wallets to aggregate their staking power, optimizing their position on the leaderboard. This program particularly emphasizes transparency, with payments based on individual performance rather than on percentage tiers.

Magic Eden also revealed plans to soon add the “Lucky Buy” feature as a new reward earning activity. Season 2 will run until mid-August, when the rewards will be distributed. This NFT marketplace emphasizes that the update is aimed at making progress tracking more engaging, with visual UX improvements and real-time leaderboard updates. By simplifying the mechanics, Magic Eden hopes to attract broader participation in its growing ecosystem.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

Mr. Teacher