Magic Eden is thrilled to unveil its exciting Diamonds Rewards Program, offering users a unique opportunity to earn and utilize diamonds based on different quests, leading to greater rewards on the platform. This program aims to acknowledge the commitment of our community and extend long-term benefits beyond mere fee discounts. In this comprehensive guide, we will walk you through the process of earning diamonds and unlocking a world of exclusive rewards.
Why diamonds?
Diamonds serve as a rewards currency that remains constant month-to-month. Our goal at Magic Eden is to reward users for a variety of actions that demonstrate their loyalty to the platform, going beyond transaction volume. By introducing diamonds, we aspire to offer a more comprehensive and gratifying experience to all our users.
How do I earn diamonds?
There are multiple ways to earn diamonds on Magic Eden:
Listing: When you list your NFTs for sale on Magic Eden, and they get sold, you earn diamonds. However, accepting a bid on your listing classifies you as a taker, and you won't be eligible to receive diamonds, as they are solely rewarded for maker actions.
Bidding: By bidding on NFTs on Magic Eden and having your bids accepted, you can earn diamonds. This applies to makers who create liquidity by placing an order.
Completing Your Profile: Earn diamonds by completing your Magic Eden profile and filling in your username.
Daily Quests: Log in every 24 hours to claim diamonds as part of our Daily Quests feature, offering even more opportunities to be rewarded for your loyalty.
Notably, these diamonds are not subject to a monthly cycle, ensuring consistent rewards month after month.
Understanding 'Maker' and 'Taker' actions
To better grasp the concepts of 'Maker' and 'Taker' actions, we encourage you to read this informative article.
Note:
Diamonds are exclusively rewarded for secondary transactions, such as listing, selling, and bidding, and are not provided for primary sales, such as minting NFTs.
Accelerate your diamond earning
Your loyalty to Magic Eden is rewarded through our loyalty score, which you can check in the Rewards Hub. By regularly listing and bidding on the platform, you can earn more diamonds and enjoy enhanced benefits.
Calculating your loyalty score
Loyalty scores determine the multiplier applied to your earned diamonds. Here's how the multiplier is calculated based on your loyalty score:
100% loyalty score = 2x multiplier
95% to 100% loyalty score = 1.75x multiplier
90% to 95% loyalty score = 1.5x multiplier
80% to 90% loyalty score = 1.25x multiplier
Less than 80% loyalty score = 1x multiplier
If your loyalty score shows "N/A," it means we couldn't locate your maker volume for the previous six months. Rest assured, we check loyalty every 24 hours, and the multiplier is applied when you earn diamonds. The loyalty score calculation considers your activity over the last six months.
The future of fee discounts
Fee discounts on Magic Eden will continue to be determined based on trade volume, as they have been in the past. However, instead of using points, we will directly consider trading volume for this purpose. It's essential to note that diamonds, while immensely rewarding, will not contribute to fee discounts.
Stay tuned for more ways to earn diamonds & rewards
As we continually evolve our Diamonds Rewards Program, we promise to keep you informed about additional ways to earn diamonds, as well as the exclusive benefits and rewards that await you in the future.
Magic Eden's Diamond Rewards Program is a celebration of our vibrant community's loyalty and dedication. Earning diamonds is just the beginning; they open doors to a world of unparalleled rewards and experiences on our platform. Embrace the opportunity to be part of something extraordinary – start earning diamonds today and unlock the magic!