@J0se@coinbase This sounds a lot like when I was running the @opensea account during peak Web3 chaos and getting roasted by all of crypto in real time 😂
Sent you a DM, Jose.
Good on OpenSea for making the hard decision to do the responsible thing and delay TGE.
There’s going to be a ton of people mad at them but the reality is is that the market is a blood bath and no one in their right mind would TGE right now unless they want to get liquidated.
an update on $SEA.
the team has been building at full speed, and the foundation had planned to kick off the first steps as part of our march 30th event. but @openseafdn is pushing back the timeline.
a delay is a delay. i’m not going to dress it up, and i know how it lands.
the reality is that market conditions are challenging across crypto right now, and $SEA only launches once. @openseafdn could force the original date, or we could ensure every piece is in place and make this moment what this community deserves.
we gave a tremendous amount of thought to how to do right here. I’m thankful to @HollanderAdam for bringing the community’s voice into every conversation. we’ll be doing the following:
no more waves: the current rewards wave will be our last.
optional fee refund: recognizing that we originally committed to a Q1 date, we’re offering refunds of the platform fees we retained while participating in the rewards waves (3 - 6) that followed our timing announcement. if you like, you can receive a refund of those fees, which when combined with treasure chest prizes, essentially means all of your trading during that period was on us. if you opt for a refund, the Treasures you were awarded during these waves will be removed from your account. details on this process will follow.
honoring existing Treasures: for Treasures you continue to hold, our prior commitment stands: they will be meaningfully considered by the Foundation at TGE. this is independent from allocations for historical activity.
0% fees for 60 days: starting on march 31st, opensea will reduce our own token trading fees to 0%. we want to make it a no-brainer for everyone to experience our new platform: cross-chain token trading, mobile app, perps and more. after this 60 day period, we will put a new system in place that makes fees significantly more competitive for anyone trading consistently on opensea.
product updates: while we’re postponing our march 30th event, we’ll host a separate one in the coming months focused on product updates. it’s been incredible to see the early responses to our mobile app, and we can’t wait to get it into more people’s hands.
so if not now, wen?
when we announced last year, it was too early. that created unnecessary uncertainty and reactivity. so when the Foundation sets a new timeline, it will be deliberate and specific.
here’s why i’m confident that’s the right move:
i’ve been building opensea for almost a decade. when this started, we were two people and the only thing you could trade on OS was cryptokitties. i’ve watched this space go from a niche curiosity to billions in volume to where we are today.
the thing that’s carried us through every cycle was a willingness to make hard calls when it mattered. when our market crashed, we rebuilt from zero: an entirely new stack, a new product, and a new team culture. that hurt in the short term. but today OS2 is undeniably the strongest marketplace offering, and it’s the foundation everything sits on.
we have huge ambitions as a company, and we’re here for the long game. making all of non-custodial crypto delightful on mobile is just the beginning. that means we have to set a very high bar for everything we do, and it’s why i’m so protective of delivering a launch that’s worthy of this community and everything we’re putting into this.
@StasStriker Lmao ok let’s play a game
You only get 1 tomato
Today, someone will pay $0.01 for 1 tomato
Next week, someone will pay $3 for 1 tomato
If you get the tomato today, it’ll rot by next week so you can’t hold it and wait.
Do you want 1 tomato today? Or 1 tomato next week?
@StasStriker You don’t understand basic tokenomics.
You’d get the same amount of tokens whether they’d airdrop today or in 6 months. If they time TGE right then your tokens will be worth more money.
If you want 1,000,000 worthless tokens you can get that now.
The most interesting shift right now isn’t just AI progress but the collapsing distance between breakthroughs.
Development used to take years but now it happens in weeks and before we fully process one leap forward, the next one is already here.
Bye OpenClaw ✌️
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