OpenSea Moves to Seaport Protocol to Cut Ethereum Gas Fees by 35%

OpenSea has moved to the “Seaport Protocol”. this is, NFT The marketplace is 1.8 million users Save money Ethereum Gas charges..

The deal with Seaport will save users about 35% on gas, the company said. Also, new accounts no longer require the one-time “setup fee” previously charged by OpenSea.

NFTs are blockchain-based tokens that show ownership of digital or physical assets. Gas prices are basically transaction fees and can rise rapidly during periods of high demand.

prior to High seasThe migration to Seaport used inefficient ones Wyvern The protocol was used by attackers in an off-platform phishing scam in February, sucking $ 1.7 million from traders.

“We estimate that we can save money with new contracts. [over] It costs a total of $ 460 million each year, “OpenSea wrote. Twitter thread Details of Seaport’s announcement.

Seaport is an open source distributed protocol Web3 Security company OpenZeppelin When Bit trajectory.. It is designed to allow users to include multiple items per on-chain transaction and is not exclusive to OpenSea.

“This is for all NFT builders,” said Marketplace. Said When the protocol was first announced on May 20th.

Being in Seaport, OpenSea is building tools that allow NFT holders to list Multiple NFTs Sold at a time and pays only one gas fee for a batch of lists (competitive marketplace LookRare Bulk list function Two months ago).

OpenSea also said that in the future, NFT collection owners will be able to add multiple payment addresses for sales and royalties.

Prior to this week’s launch, OpenSea held a two-week code Audit Report Contest Up to 1 million prize pool USDC (Circle Stablecoin) That Seaport protocol. Anyone who finds a problem with the code can submit the results.

Please note that once OpenSea is migrating to Seaport, you will not be able to add offers and lists to the Wyvern protocol. June 21.. By July 13, OpenSea will stop retrieving Wyvern contract data. That is, the list created by the Wyvern contract will not appear on your site.

The transition to OpenSea’s more gas-efficient protocol will take place a month later KrakenThe upcoming NFT Marketplace has announced that gas charges will be zero for transactions on the platform.