Magic Eden, an 8/9NFT trading market, proposed to ApeCoinDAO to establish an exclusive NFT market where APE holders could buy and sell NFTS with a low transaction fee of as little as 0.75%, far lower than the current 2% transaction fee on Magic Eden’s platform.
In its proposal, Magic Eden declares its vision for an NFT trading marketplace powered by APE tokens in the ApeCoin.com domain.
Magic Eden initially plans to charge a base fee of 1.5% for all transactions, with an additional 0.5% discount for transactions using APE, while holders such as BAYC, MAYC and BAKC enjoy a further 0.25% discount, with a minimum fee of 0.75%, much lower than the 2% on Magic Eden’s platform.
A fee income of 0.75 per cent would fund trading market operations.
MagicEden does not ask for any funds to develop this platform, and proposes to increase APE application and share resources with ApeCoinDAO, hoping to get support.
Magic Eden says it wants to provide a community platform for NFTS where members can exchange experiences and launch their own projects and initiatives (Launchpad).
Magic Eden hopes to offer more features, including: whitelist management, wallet address identification, auctions, pre-coinage and various marketing resources.
If the case is approved, future governance proposals could also propose that Magic Eden and ApeCoinDAO share revenues to create a revenue stream for the community and Launchpad.
Established in March this year, ApeCoinDAO is not controlled by Yuga Labs, the founding company of Bored Ape Yacht Club. Any APE holder is a member of ApeCoinDAO and can make decisions on fund allocation, governance rules, projects, partners and more.
Since its inception, ApeCoinDAO has received several proposals to create an NFT marketplace, none of which has been successfully approved.
As the largest NFT trading market on Solana, Magic Eden firmly occupies the leading position in the Solana chain with more than 90% trading volume.
Recently, Magic Eden has also actively entered Ethereum. Whether the proposal launched at this time can become a community topic and attract more Ethereum monkey community with high gold content for it remains to be voted by 8/22.
ApeCoinDAO has been a supporter of ApeCoin. At the beginning of its release, Huang Licheng has established a NFT market specially for BAYC and other related NFT projects, and ApeCoin is used as the payment medium.
However, the official ApeCoinDAO only posted and reposted articles for Magic Eden, who believed that ApeCoinDAO had different treatment and was deeply dissatisfied.