LooksRare Updating Its Listing Rewards

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LooksRare is set to update its listing rewards for platform users tomorrow, Dec. 2, at 4 a.m. ET, according to a recent tweet from the team.

The update changes the amount of time it takes for a listing to become "valid" and start accruing rewards. That time frame will change from 10 minutes to 30 minutes.

"It is expected that this should reduce the incentive and increase the costs of people trying to game the listing rewards program," the team said. "As a result, it should also reduce the number of failed transactions from people trying to buy NFTs (due to being front-run by bots)."

The team will continue to innovate its listing rewards program.

"We know Listing Rewards aren’t perfect by a long shot, but this is another step in the right direction," LooksRare continued. "As always, we will keep a close eye on how the update plays out, and keep making positive changes wherever possible."

Author Bio

Jason Bales

Jason is an NFT lead at Lucky Trader. He has been involved in the NFT space since CryptoKitties in late 2017 and got involved in NBA Top Shot in early 2021 (Series 1 Legendary From The Top LeBron James Block, anyone?). Now, he spends most of his days yelling, "get off my lawn" at the PEPE and Nakamigos kids.

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