LooksRare Updating Its Listing Rewards

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."

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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