Magic Eden Community Governance Policy

Welcome to the Magic Eden Community
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A. Scope

This Governance Policy (“Policy”) governs participation in and use of the governance processes, platforms, and resources made available by Magic Eden Pte. Ltd. (“Magic Eden,” “we,” “us,” or “our”) for the purpose of managing and allocating the Magic Eden Community Fund. This includes, without limitation, the official governance forum, Discord channels, proposal submission portals, voting mechanisms, and any other governance-related infrastructure operated or authorized by Magic Eden (collectively, the “Governance Platform”).

“You,” “your,” or “member(s)” refers to any individual or legal entity that accesses or participates in the Governance Platform in any capacity. If you are participating on behalf of a company, foundation, or other legal entity, you represent and warrant that you have the authority to bind such entity to this Policy, and all actions you take will be deemed actions of that entity.

By using the Governance Platform, submitting a governance proposal, or voting on any matter, you accept and agree to be bound by this Policy, the Magic Eden Terms of Use, and the Magic Eden Privacy Policy (each incorporated herein by reference). If you do not agree, you are not authorized to participate. In the event of a conflict between this Policy and other referenced documents, this Policy shall control for all governance-related matters.

B. Governance Authority and Permitted Scope

The Magic Eden Community’s governance authority is strictly limited to the management and allocation of the Magic Eden Community Fund, a treasury initially seeded with 5,000,000 $ME tokens. All proposals and votes must fall within one or more of the following three permitted categories (“Permitted Scope”):

  1. Community Incentives & Campaigns – Initiatives designed to drive platform usage, onboarding, education, and sustained engagement. Examples include bounties, meme contests, guild programs, events, and regional growth efforts.

  2. Grant Programs & Ecosystem Development – Funding to individuals, teams, or organizations for the development of tools, dashboards, educational content, software integrations, or decentralized applications (dApps) that benefit the Magic Eden ecosystem.

  3. Product Improvement Impact Program – Proposals for new products, features, or modifications to existing Magic Eden products. Proposals achieving quorum shall receive a formal written response from Magic Eden within seven (7) days. While quorum does not guarantee implementation, all proposals meeting quorum will be awarded a 1,000 $ME token bounty.

Governance does not extend to:

  • Core business operations of Magic Eden;

  • Tokenomics or the distribution of $ME outside the Community Fund;

  • Strategic, operational, or financial decisions outside the Permitted Scope.

C. Membership and Voting Power

Participation in governance requires active staking of $ME tokens. Voting power (“Staking Power”) is calculated based on:

  • The quantity of $ME tokens staked; and

  • The duration of the staking commitment (up to a maximum of four [4] years).

Staking Power directly determines your influence in governance decisions.

D. Proposal Requirements

All proposals must be submitted in the prescribed format and include:

  1. Title – A concise, descriptive name for the proposal.

  2. Abstract – A one-paragraph summary of the proposal’s purpose.

  3. Motivation – A clear explanation of the benefit to the Magic Eden Community.

  4. Key Terms – Definitions of notable terms or concepts.

  5. Specification – A detailed plan, including technologies, steps, and timelines.

  6. Benefits/Risks – A balanced overview of advantages and potential drawbacks.

  7. Outcomes – Definition of success and relevant Key Performance Indicators (KPIs).

  8. Cost Summary – Breakdown of the total cost in $ME and USD, with payment schedule.

  9. Performance Milestones – Reporting intervals and progress updates.

Incomplete proposals may be rejected before reaching a governance vote.

E. Changes to the Governance Policy

We may amend or revise this Policy at our sole discretion without prior notice. All changes are effective immediately upon posting to the Governance Platform. By continuing to participate in governance after changes are posted, you agree to the updated terms.

Members are responsible for reviewing this Policy regularly to stay informed of updates.

F. Access to the Governance Platform

We may modify, restrict, suspend, or discontinue any part of the Governance Platform at any time without liability. We do not guarantee uninterrupted access. Periodic maintenance, updates, or security interventions may temporarily limit access.

You are responsible for:

  • Ensuring you have the necessary arrangements to participate in governance; and

  • Ensuring anyone accessing the Governance Platform through your account complies with this Policy.

G. Eligibility Restrictions

The Governance Platform is intended for individuals aged eighteen (18) years or older. By participating, you confirm that you meet this requirement and are not prohibited by any applicable law from engaging in governance activities.

H. Account Security

Certain governance activities may require an account or authentication. You must:

  • Provide accurate, current, and complete information;

  • Maintain only one active account;

  • Keep login credentials secure; and

  • Notify Magic Eden immediately of any security breaches.

You are responsible for all activity conducted under your account until you notify us of compromise and the account is secured.

I. Prohibited Conduct

You may not use the Governance Platform to:

  • Violate any applicable law or regulation;

  • Circumvent security measures;

  • Engage in harassment, abuse, or defamatory behavior;

  • Submit false or misleading information;

  • Engage in spam or unauthorized promotions;

  • Impersonate another person or entity;

  • Manipulate voting outcomes through fraudulent means; or

  • Interfere with the normal operation of the Governance Platform.

J. Enforcement

Magic Eden reserves the right to investigate violations of this Policy and take enforcement actions, which may include:

  • Content removal;

  • Suspension or termination of governance privileges;

  • Loss of eligibility for Community Fund distributions; and/or

  • Referral to law enforcement authorities.

K. Content Licensing

By submitting proposals, comments, or other content to the Governance Platform, you agree to license such content under the Creative Commons CC0 1.0 Universal Public Domain Dedication, unless otherwise stated. This allows the community to freely use, modify, and distribute your contributions.

L. Disclaimers and Limitations of Liability

Participation in governance is voluntary and at your own risk. The Governance Platform and all related services are provided “as is” without warranties of any kind. Magic Eden shall not be liable for any indirect, incidental, or consequential damages arising from your participation.

M. Governing Law and Jurisdiction

This Policy and any disputes arising under it shall be governed by and construed in accordance with the laws of Singapore, without regard to its conflict of law provisions. Any disputes shall be subject to the exclusive jurisdiction of the courts of Singapore.

N. Entire Agreement

This Policy, together with the Terms of Use and Privacy Policy, constitutes the entire agreement governing your participation in the Magic Eden Community governance process.

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