Early traders of Magic Eden's new token ME experienced a rocky rollout as they encountered issues accessing their airdrops. The token's fully diluted valuation initially reached $15 billion but later settled at around $5 billion. Some observers criticized the project for its atypical airdrop processing procedure, which threatened security best practices. Users who successfully claimed the airdrops defended the project, while others expressed frustration with the convoluted process. Magic Eden's wallet app also raised privacy concerns, as it stored users' recovery phrases and private keys on-app without a clear route for deletion. The app's reliance on a different tech setup made it difficult to transfer wallets to other applications.



Other News from Today