BlockBeats News, March 17th, OpenSea CEO Devin Finzer posted a message stating, “Regarding the latest SEA update: The team has been pushing development at full speed, originally planning to launch the first step at the event on March 30th, but the OpenSea Foundation has decided to postpone the timeline. The reality is that the entire crypto market environment is currently very challenging, and SEA will only be issued once. We can either forcefully stick to the original plan or ensure that all aspects are well-prepared to meet the community’s expectations for this release. The following measures will be taken:
No more new reward waves will be conducted, and the current reward wave will be the final round. Platform fee refunds are optional: Given that we initially promised to launch in Q1, we will provide platform fee refunds to users who participated in reward waves 3–6 (only for the portion we collected). If a refund is chosen, the Treasure rewards received during the corresponding period will be removed from the account. By accepting a refund and combining it with the Treasure Chest reward, it is essentially equivalent to us covering the transaction fees for that period. Specific procedures will be announced later.
Existing Treasures are still valid: If users continue to hold Treasures, the Foundation’s previous commitment remains valid: it will be a significant reference at TGE. This is independent of the token distribution for historical events. Starting from March 31st, OpenSea will reduce platform token transaction fees to 0% for 60 days. After 60 days, we will introduce a new fee system to make fees more competitive for long-term traders. Last year, we prematurely announced plans, causing unnecessary uncertainty in the market. Therefore, when the Foundation announces a new timetable, it will be more precise and cautious.”
