Magic Eden Quests

Early Magic
1

Gm fam !**

Abstract:**
This proposal introduces a Quest & Rewards system that distributes small amounts of $ME to users (stakers) who actively trade on Magic Eden (NFTs, swaps, and runes). Rewards are tied to real activity on the platform, boosting daily and monthly engagement, while also strengthening $ME staking as the foundation of the ecosystem.

Motivation:
To increase trading activity and user retention, Magic Eden should reward traders directly for their participation. Quests create habits, drive consistent volume, and ensure more fees flow back into the ecosystem. Linking rewards to staking adds extra value for long-term holders.

Specification:

  • Volume Quests:

    • Each trade above $100 USD earns 2 $ME (just a example).

    • Monthly cap per wallet (e.g., 50 $ME) to prevent abuse.

    • Rewards funded by redirecting a small percentage of trading fees into a reward pool.

  • Event Quests (FCFS):

    • Limited-time quests exclusively for stakers.

    • Rewards are distributed first come, first served to the fastest participants who complete the quest.

    • Examples: “First 100 stakers to trade 3 NFTs today earn 10 $ME each.”

Benefits:

  • Boosts daily and monthly trading volume → generates more fee revenue → self-sustains the reward pool.

  • Appeals to both casual users (small but consistent rewards) and high-volume degens (chasing caps and event quests).

  • Makes $ME staking more valuable by unlocking exclusive FCFS quest rewards.

  • Strengthens user loyalty by gamifying trading activity.

Risks / Considerations:

  • Must implement anti-wash trading mechanisms (counterparty checks, wallet limits).

  • Clear communication around reward distribution to avoid confusion.

Cost / Funding:

  • Variable, depending on trading activity.

  • Suggested: allocate up to 5% of trading fees into the Trade Quests pool.

Expected Outcomes:

  • Significant increase in trading activity across NFTs, swaps, and runes.

  • Higher engagement from both new users and existing stakers.

  • More $ME staked and used within governance.

7 Likes
2

Gaining instant rewards could be a good. But It does feel as if it’s essentially what the season campaigns are-minus the instant distribution for trades.

Maybe there is another way to find a reward system for the platform that doesn’t conflict with existing trading rewards.

3 Likes
3

Might lead to tiny minuscule rewards, unappreciated by the community

2 Likes
4

it’s a good one to consider :sob:

2 Likes
5

All value it’s just a example, The value to be added would come from the fees, so the quests would give the guys an incentive to spend more.

1 Like
6

S1 had the quests but without any kind of instant reward, in fact they boosted their $ME Airdrop. I liked this format in which it is necessary to have a certain availability and not miss any quests or have the minimum number of missed quests and you would get a higher value of $ME.

1 Like
7

I honestly hated quests in their previous format, but this sounds kinda cool. Maybe could come up with a different name. What if the earned rewards go immediately into stake account?

  • Rewards are distributed first come, first served to the fastest participants who complete the quest.

  • Examples: “First 100 stakers to trade 3 NFTs today earn 10 $ME each.”

  • Monthly cap per wallet (e.g., 50 $ME) to prevent abuse.

4 Likes
10

First come first serve would be botted like crazy

3 Likes
11

:100: % agree. great idea! easy activation! :+1:

1 Like
12

Exactly, people always complain about things like that