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  • 🔧ERC721 Migration
    • Why
    • Process overview
    • Smart Contract
    • Cost burden
    • Current Discussions
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  1. ERC721 Migration

Why

PreviousMorning punk thoughtsNextProcess overview

Last updated 1 year ago

Currently LEP is hosted on an OS storefront contract. This is not independent and OS may take down LEP or add other restrictions to the collection. While this seems unlikely, we saw this in Jan 2021 when. This demonstrates that OS is a difficult service provider to trust.

The reason for the LEP migration is to get the provenance on an independent ERC721 contract, with flexibility for future features such as on-chain metadata/art.

  • This will make the NFT ownership permanent/indisputable (cannot be taken down by OS rules)

  • It will also allow for trading on alternative marketplaces to save money for traders.

    • E.G. Blur/x2y2 have competitive service fees (OpenSea is 2.5%).

    • EST ETH paid to OpenSea since LEP started -- 6 ETH (244 V.T. * .025)

  • Ability to add traits

  • Perhaps LEP will have future ideas that are able to be done on an independent contract.

🔧
LEP was put in jail and could not upload new Punk
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