LooksRare launches version 2, gas fees reduced from 2% to 0.5%

LooksRare is being updated to version 2 and announced on April 6th that it has reduced fees by 75%, in addition to introducing many other features.

The first edition used to deduct 2% of the fee per transaction, but now the second edition has been reduced to 0.5%. In addition, the new version has more fuel-efficient contracts. Compared with Blur and other markets, compared with V1, users can save ~ 50% of gas costs and ~ 30% of gas costs.

From today on, merchants will get ether instead of wrapping it. If users want to put multiple transactions together, blockchain smart contracts can be purchased in large quantities or customer orders. In addition, the aggregator can include a custom consignee so that the user can buy an irreplaceable token with one wallet and send it to another wallet.

Merchants can also sell tokens at a token price instead of listing irreplaceable tokens in ETH, which includes fixing the dollar price with equivalent ETH payment.

In a post on April 7th, the team shared the news that the LooksRare version would be shut down. On April 12th, the front of the app will not allow users to publish version 1 auctions based on the public API. On April 13th, the existing V1 auction will be withdrawn from the platform at 10:00 in a time of global harmony. In addition, smart contracts will be banned at 11:00 UTC according to the managed function.

Most of the announcement received a proactive response, and some users felt that the features added an amazing test to leaders such as OpenSea and Blur.

However, not everyone seems to believe that LooksRare version 2 will impress users more than other sites. From their point of view, version 2 does not easily give very good token incentives and does not allow a large number of personal collections to be listed.

In October, LooksRare ran into disagreement over its decision to withdraw the original author's remuneration. The sales market has benefited from the recent rise in NFTs prices.

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