@0xPrismatic If it is intentional it’s kinda sad. It affects the entire ETH ecosystem. Not only is XEN wasting massive amounts of gas, but other transactions on the network are also paying high fees because of this as well.
@0xPrismatic According to https://t.co/AvQ04wPqju ETH became deflationary on Oct 8th. Sad thing about XEN is the devs optimized it for 20 runs, which basically means cheap deploy, expensive user interactions. Should have been set to more like 10000 runs so users pay less in gas.
@KindnessCrypto @RichardHeartWin Then #XENCrypto devs didn't optimize the deploy. Setting it to 20 runs, which means cheap deploy costs, expensive user interactions. Really it should have been set to 10,000+ runs. They saved a few fractions of ETH upfront but will costs users massive amounts of gas fees.
1/ It appears that potentially the oldest and now first NFT on Ethereum was just rediscovered. 🧵
The contract is a domain name registrar (similar to ENS) that was deployed on August 8th, 2015.
If you are going to interact, use a burner!
Minting app: https://t.co/u7rGNDzmyM
@drewodie17 A Fair Dutch auction with super high starting price would have flattened out this gas war. Also a few simple gas optimizations in the contract would also help save 60-70% of the gas fees
@mast3rf3ng @yugalabs Yuga messsed up plain & simple. A few small changes and save millions in gas fees.
Remove gas hungry Enumerable, save around $70-90m, use ERC721A, save another $30-40m.
Instead they wasted $175m on gas. Sucking it out of the NFT ecosystem to the miners.
@barbellbilly87@0xfoobar A Fair Dutch auction using $APE would have worked much better. There are so many approaches that could have been implemented to save millions in gas.
This could have been done better. Rolled minting, guaranteed spots, longer mint claim duration. @othersidemeta just burned $125 million in fees, taking this out of the ecosystem forever. #OthersideMeta