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RFC on Bidding Precision Update

March 30th, 2023

A couple weeks ago, we announced an update to our bidding precision rules. We heard loudly from our developer community that these changes would negatively impact bidding on items on OpenSea. We want to make sure we incorporate your feedback into these changes, so we're presenting our plan here as a Request for Comment ahead of the proposed go-live.

Summary

  • We're planning to allow WETH offers to have a maximum precision of 3 decimal places across all collections.
  • We will start enforcing this change after we have API support for gasless cancellations on signed zone offers.

Precision Update

All offers placed will have to be rounded to the nearest 0.001 WETH. Offers not correctly rounded will be rejected with a 400 status code explaining the reason for the failure.

At the time of writing, 0.001 WETH is approximately $1.78 USD.

For example, these are all valid bid amounts:

  • 0.001 WETH
  • 0.003 WETH
  • 0.199 WETH
  • 0.200 WETH
  • 0.301 WETH
  • 5.122 WETH

These are examples of bid amounts that will no longer be accepted:

  • 0.0000001 WETH
  • 0.2001 WETH
  • 1.0001 WETH
  • 1.4434 WETH
  • 3.0212 WETH
  • 5.1234 WETH

Comments

Please join us in our Developer Discord to provide feedback on this proposal. We'll keep comments open for one week. Looking forward to hearing from you!