Abstract
The Magic Eden Project Discovery Hub is a community-driven platform designed to bridge the visibility gap for underrepresented NFT projects on Magic Eden. Through a structured task-based reward system, users will engage with emerging projects while earning $ME tokens. The 4-month trial aims to onboard 50–70 projects and engage ~1,000 users, testing the viability of a structured community discovery platform.
Problem
- Visibility Gap: New and small-cap NFT projects struggle to gain traction against established collections, regardless of quality or innovation
- Discovery Friction: Users have limited ways to systematically discover new projects beyond trending lists or manual browsing
- Engagement Deficit: Platform engagement fluctuates, with users often interacting only with well-known collections
- Underutilized $ME Token: Limited utility mechanisms for $ME token beyond trading and staking
Solution
The Magic Eden Project Discovery Hub is a dedicated platform section where users complete engagement tasks to earn $ME rewards while discovering new NFT projects.
For Users:
- Browse curated list of emerging Magic Eden projects
- Complete simple engagement tasks (follow, share, purchase)
- Earn $ME rewards upon task verification
- Track progress through personal dashboard
- Discover new projects aligned with their interests
For Projects:
- Apply for inclusion in the Discovery Hub
- Gain platform-featured visibility
- Access new potential collectors and community members
- Receive basic analytics on user engagement
- Build community momentum
For Magic Eden:
- Increased daily active users and session duration
- Higher transaction volume across diverse projects
- Strengthened $ME token utility and demand
- Enhanced platform reputation as creator-friendly
- Data-driven insights on community preferences
Task Types
Task Category 1: Social Engagement
- Follow project on X (Twitter)
- Retweet project announcement
- Join project Discord/Telegram
Task Category 2: Platform Activity
- Add project to watchlist
- Visit project page for 2+ minutes
Task Category 3: Transaction-Based
- Make purchase from collection
- List an NFT from collection
- Complete a collection milestone (3, 5, 10 NFTs)
Security Measures
- Lite verification for reward claims over 100 $ME
- Rate limiting to prevent bot farming
- Manual review for suspicious patterns
- wallet address monitoring
Project Eligibility & Onboarding
Eligibility Criteria
Projects Must:
-
Be officially listed and verified on Magic Eden
-
Have active smart contracts (no rugs or abandoned projects)
-
Maintain active social media presence
-
Provide complete project information
-
Have floor price under 2 SOL.
Projects Cannot:
- Have history of scams or fraud
- Violate Magic Eden content policies
Fund Allocation & Budget Breakdown
Total Request: 15,000 $ME
Reward Pool: 6,000 $ME
Development & Technical 4000 $ME
Operations & Management: 3,000 $ME
Contingency 2000 $ME
Fund Release Milestones
Milestone 1 – Initial Release (Month 0)
Amount: 6000 $ME
Allocation:
- Development & Technical Setup.
- Initial Operations.
- Initial Reward pool.
Trigger: Upon proposal approval
Milestone 2 – Trial Launch (Month 2)
Amount: 4000 $ME
Requirements:
- Platform live and publicly accessible
- Minimum 15 projects onboarded and active
- Minimum 250 registered active users
Milestone 3 – Mid-Trial Progress (Month 3)
Amount: 3000 $ME
Requirements:
- Minimum 35 projects onboarded
- Minimum 600 active users
- 60%+ task completion rate
- 1,000+ total tasks completed
Milestone 4 – Trial Completion (Month 4)
Amount: 2000 $ME
Requirements:
- Minimum 50 projects onboarded
- Minimum 900 active users
- 3,000+ total tasks completed
- Final report submitted to community
- Complete financial transparency report
- User testimonials and case studies
Success Metrics & KPIs
User Engagement:
- Target: 1,000 active users (900 minimum)
- Daily Active Users (DAU): 100+ by Month 2
- Average session duration: 5+ minutes
- Return user rate: 40%+
Project Onboarding:
- Target: 50-70 verified projects
- Project retention: 80%+ remain active
- Average tasks per project: 50+
Task Performance:
- Total task completions: 3,000-5,000
- Task completion rate: 70%+
- Reward distribution accuracy: 100%
- Average reward per user: 6-10 $ME
Platform Impact:
- Increased traffic to featured projects: 200%+
- Secondary sales uplift: 15-20%
- New collector acquisition: 30+ per project
Community Growth:
- Social media engagement increase: 25%+
- Discord/community member growth: 500+
- User-generated content: 50+ posts/videos
Risk Assessment & Mitigation
Risk: Task verification failures
- Likelihood: Medium
- Impact: Medium
- Mitigation: Multiple verification methods, manual override capability, user support team
Risk: Low user participation
- Likelihood: Low
- Impact: High
- Mitigation: Attractive rewards, clear instructions, marketing push, community ambassadors, referral bonuses
Risk: Bot farming and fraud
- Likelihood: High
- Impact: High
- Mitigation: rate limiting, manual reviews, wallet monitoring
Risk: Project quality concerns
- Likelihood: Medium
- Impact: Medium
- Mitigation: Strict vetting process, community feedback, ongoing monitoring, removal capability
Risk: $ME price volatility
- Likelihood: High
- Impact: Medium
- Mitigation: Fixed token amounts, not dollar values; contingency buffer; flexible reward scaling
Risk: Budget overrun
- Likelihood: Low
- Impact: Medium
- Mitigation: Milestone-based releases, transparent accounting, contingency fund, community oversight
Risk: Insufficient rewards to drive engagement
- Likelihood: Low
- Impact: High
- Mitigation: Market research on reward levels, adjustable task values, community feedback loops
Long-Term Vision
Post-Trial Roadmap
If Successful (Metrics Met):
Phase 1: Expansion (Months 5-8)
- Scale to 200+ projects
- Expand to multi-chain (Ethereum, Polygon, Bitcoin)
- Introduce tiered reward levels
- Add community voting on featured projects
Phase 2: Enhancement (Months 9-12)
- Gamification elements (badges, leaderboards)
- Creator rewards program
- Advanced matching algorithms
- Mobile app integration
Phase 3: Sustainability (Month 12+)
- Self-sustaining revenue model
- Project fees fund reward pool
- DAO governance transition
to everyone who reviewed and voted on our Discovery Hub trial proposal. While it didn’t pass, the feedback was incredibly valuable especially the point that it wasn’t well-defined enough.