Bidding Precision Decision
28 days ago by Joshua Schmidt
A couple weeks ago, we posted an RFC about a proposal to update our bidding precision logic. Thank you for all of your feedback. The final decision is listed below with all rationale. Thank you again for being so engaged with us.
- We're planning to allow all payment asset, ERC-20, offers to have a maximum precision of 4 decimal places across all collections.
- We chose 4 decimals to put API and website users on equal footing, as our display in our feeds only shows 4 decimal places.
- We will start enforcing this change next week on 05/19
All offers placed will have to be rounded to the nearest 0.0001. Offers not correctly rounded will be rejected with a 400 status code explaining the reason for the failure.
FYI: at the time of writing 0.0001 WETH is approximately $.18 USD.
For example, these are all valid bid amounts:
- 0.0001 WETH
- 0.0003 WETH
- 0.1999 WETH
- 0.200 WETH
- 0.301 WETH
- 5.1224 WETH
These are examples of bid amounts that will no longer be accepted:
- 0.0000001 WETH
- 1.00001 WETH
- 1.44345 WETH
- 3.02123 WETH
- 5.12345 WETH