Welcome! Ready to maximize your Magic Eden Rewards? This guide introduces you to staking. Whether you're new to staking or a seasoned pro, we've got you covered with everything you need to get started.
What is the $ME Token?
The $ME token powers the on-chain economy and represents the most powerful suite of cross-chain trading, minting, and wallet protocols. As the official token adopted by Magic Eden, $ME unites the largest community of on-chain users, allowing them to earn rewards for trading assets across all chains.
How do I get $ME tokens?
Exchanges: $ME is available on leading exchanges and decentralized exchanges (DEXs). You can buy or swap for $ME directly through Magic Eden’s platform
Magic Eden Rewards: Earn $ME and other rewards by participating in the Magic Eden Rewards program.
Magic Eden Rewards and staking overview
You can earn by participating in the Magic Eden Rewards program. To join the Rewards program you will need to do two things: stake your $ME tokens AND complete reward-eligible trading activities.
Note: Staking alone does not yield direct rewards. It allows you to participate in the Magic Eden rewards program and provides a Rewards multiplier.
How do Staking and rewards-eligible activities work together?
Earn rewards through active participation by staking your $ME tokens AND completing rewards-eligible activities.
Staking: Allows your rewards-eligible activities to be counted and gives a Rewards multiplier for activity rankings based on your Staking Power (amount staked × duration).
Rewards-eligible activities: Provides tasks to earn, with rewards calculated through a user’s overall trading volume and Staking Power
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 Rewards tab: Click the Rewards button on the Magic Eden platform (magiceden.io/rewards).
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."
How to withdraw staked $ME tokens
You cannot withdraw your staked $ME tokens until the stake end date.
Navigate to the Withdraw Tab: Click on the Withdraw button within the Rewards interface.
Review Details: Ensure your unlock period has ended.
Confirm Withdrawal: Click Withdraw to remove your staked tokens.
Link all your wallets to combine Staking Power across multiple wallets
Starting in Season 2, you will be able to combine Staking Power across multiple wallets. If you have staked $ME across multiple wallets, make sure you link all your wallets in your wallet management tab.
Once you have linked all your wallets, your total Staking Power will represent the sum of all your Staking Powers across multiple wallets.
For more information on linking your wallets, please check out this Article here!
Where to find my total Staking Power?
You can find your total Staking Power across all linked wallets by going to Rewards Dashboard (magiceden.io/rewards) and looking at the Stats tab on the bottom left.
This view will give you a clear picture of how many wallets you have and your total aggregated staking power across all wallets.
Important Staking mechanics
No retroactive power: Staking Power applies only to future activity. For example, if you stake 1 $ME for 7 days and later increase the stake to 10,000 $ME for 4 years, the enhanced Staking Power will not apply retroactively to your reward activity.
Single stake bucket per wallet: Each wallet can only have one active stake timeframe (e.g., 7 days or 4 years). If you wish to stake additional $ME for a different duration, you must use a separate wallet.
Adding to an existing stake: Additional $ME aligns with the existing lock-up duration.
Extending durations: Increasing the duration applies to both new and previously staked tokens, boosting your multiplier.
Staked tokens cannot be withdrawn before the lock-up duration ends.
For further assistance, visit our Help Center or contact support via the chat widget in the bottom-right corner of the page.