Opensea Fees
Q6. Find the wallet that collects Opensea fees. Make a dashboard showing how much Opensea has earned through Polygon transactions.
Assets have used for NFT payments on Polygon
By following query I have found assets that Opensea supports for payment. Except ECKN token we can see payments have performed through USDC, ETH or DAI. Therefore I have used these three symbols to calculate transaction fee in USD. I have used ethereum.core.fact_hourly_token_prices
table to find price of these tokens in USD.
What is Opensea?
OpenSea is an online NFT marketplace that offers non-fungible tokens (NFTs) to be sold directly at a fixed price, or through an auction, based on the Ethereum ERC-721 standard, the layer-2 scaling solution for Ethereum Polygon, the KIP-7 standard for Klaytn, and the SPL standard for Solana
Polygon (previously known as the Matic Network) is a separate blockchain that provides scalable, secure and instant transactions with Ethereum currencies like ETH, USDC and DAI.
As one of the first scaling solutions for Ethereum, cryptocurrencies must be "bridged" from Ethereum's blockchain to Polygon. Think of Polygon as a sibling to Ethereum, the currencies are similar, but the two blockchains have slight differences.
Beginning in July 2021, users can use Polygon to create, buy and sell NFTs without paying transaction fees, essentially creating a gas-free marketplace.
To know more about OpenSea on Polygon you can see OpenSea Help Center.
Method
In this dashboard we will see what wallet (or wallets) collects OpenSea fees and how much OpenSea earned on Polygon network.
To do this analysis I have used polygon.core.fact_token_transfers
table to find transactions have transferred fees to OpenSea wallet. By searching “opensea” in Polygon scan I have found an address that refers to OpenSea wallet.
Also I have found another address that receives transaction fees in Polygon scan.
So I have used these two addresses to find OpenSea profit from transaction fees on Polygon.
The opposite chart shows the OpenSea earning from fees based on assets that have used for NFT payments on Polygon.
We can see 312.63K USD of fees paid by ETH and 15.22K USD have paid by DAI.
The following donut charts shows the percent of OpenSea earning volume based on assets and number of paid fee transactions based on assets.
We can see 95.4% of fees have paid by ETH and 4.62% of fees have paid by DAI.
Also on second donut chart we can see 99.3% of fee transactions have paid by ETH and just 0.563% of them have paid by DAI.
The opposite chart shows the Number of paid transaction fees to OpenSea based on assets that have used for NFT payments on Polygon.
We can see 223.145K of fee transactions paid by ETH and 1265 of them have paid by DAI.
On the following charts we can see daily number of OpenSea fee transactions on Polygon since June 6, 2022. We can see on June 8, 2022 the most number of fees has transferred to OpenSea wallet by about 7905 transactions.
Conclusion
- OpenSea has earned 328K USD from transaction fees on Polygon since June 6 2022 to August 1, 2022.
- 95.4% of fees have paid by ETH and 4.62% of fees have paid by DAI.
- 223.145K of fee transactions paid by ETH and 1265 of them have paid by DAI.
- 99.3% of fee transactions have paid by ETH and just 0.563% of them have paid by DAI.
- On June 15, 2022 the most fee has transferred to OpenSea wallet by about 12.7K USD.
- On June 8, 2022 the most number of fees has transferred to OpenSea wallet by about 7905 transactions.
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