Gas fees soared during the Otherside mint.
to reimburse users for the gas fees associated with failed transactions, but it’s unclear what the refund process will look like.outlined in a post
days before the mint, Yuga Lab’s original goal was to avoid an “apocalyptic” gas war, or a sudden spike in gas fees due to high demand. It said it would ditch the popular Dutch auction style of minting, in which an NFT goes up for sale at a certain ceiling price and is then incrementally lowered over time.
Rather than resorting to a faux Dutch Auction, the Otherdeed mint will employ the following mechanic: the sale price will remain flat for the duration, and at the start of the sale, there will be an intentionally low per-wallet limit on the number of NFTs that may be minted .
The mess of a mint prompted some users to propose ways to improve the process in the future. Will Papper, the co-founder of Syndicate DAO, a platform that lets users create web3 investment clubs,Of course, gas optimizations are only one part of the equation.Money spent on gas is money that could go to builders. This takes place both via the design of the mint + the smart contract.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bored Ape Yacht Club Hit with Massive Hack, Estimated $3M Worth of NFTs GoneAn estimated $3 million worth of NFTs was stolen. Read more from our friends at artnews.
Read more »
The Floor Value of Bored Ape Yacht Club's NFT Collection Taps 152 ETH – Bitcoin NewsThe non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC) has seen its floor value jump to 152 ether ($430K).
Read more »
Please Don’t Buy a 'KYC’d' Wallet for the Bored Apes Team’s Otherside MintIn a desperate bid for access to othersidemeta’s imminent NFT launch, Bored Ape fans are trying to buy Ethereum wallets connected to strangers’ personal information. lil_smush explains why that’s a bad idea.
Read more »
The Largest NFT Mint in History — Bored Ape's Otherside Virtual Land Sale Raises $320 Million – Bitcoin News“This has been the largest NFT mint in history by several multiples,' Yuga Labs wrote after the Otherside virtual land sale.
Read more »
ApeCoin to Migrate from Ethereum After 'Turning Lights Off,' Causes ControversyFollowing a massive minting, Ethereum failed to satisfy the demand of investors, which caused blockchain transfer talks in the $APE community
Read more »