Understanding Phosphor’s Fees
TL;DR:
- It costs nothing to create digital collectibles on Phosphor
- Creators can easily monetize their creations with Drop-to-Earn and Primary Sale
- Collectors pay a flat 0.000777 ETH fee to mint Drop-to-Earn collectibles which goes to Creator and Ecosystem Rewards
Since launching Phosphor, we’ve constantly sought new ways to help creators and collectors better engage with each other through digital collectibles, and today, we’re excited to share a feature that enables that.
Introducing Sponsored Drops (100% Free)
Phosphor creators are now able to further simplify their collectors’ experience by sponsoring the gas fees associated with claiming a collectible, making it 100% free. If you decide to cover these fees, your account will be charged only for the volume minted (i.e., pay-as-you-go).
Here’s a breakdown of the new fee structure depending on collection type:
- Drop-to-Earn (D2E): These are collections without any listed price during the primary sale. For this collection type, collection deployment is free for creators, while collectors are expected to pay a 0.000777 ETH mint fee, which goes towards creators and ecosystem rewards. There’s also an associated gas fee payment, which is dependent on the network.
- Priced Drops: These are collections with any listed price during the primary sale. Here, collection deployment is not free; however, it is discounted for creators (Open Beta creators get a $10 credit). Collectors will not be charged a mint fee but are expected to pay the listed price during the primary sale and the associated gas cost, with 100% of the sale proceeds going to the creator.
- Free Drops: For free drops, i.e., drops to the community such as tokens of appreciation, proof of participation, etc., collection deployment is not free but is discounted for creators (Open Beta creators get a $10 credit). Mint fees are not applicable to this collection type; however, collectors are expected to cover the associated gas fee.
Phosphor Fees: Frequently Asked Questions
1. Who pays the gas fees?
Creators do not pay any gas fees to deploy their collection(s) on-chain during the Open Beta (these fees are promotionally sponsored by Phosphor).
Collectors are responsible for paying gas fees to the network to mint the collectible(s).
2. Why are Collectors charged 0.000777 ETH mint fee?
100% of the mint fee paid by Collectors goes directly to the Ecosystem Rewards in order to support the work and effort of those who make collecting possible.
3. How is the Ecosystem Rewards Pool disbursed?
Ecosystem Rewards are designed to support both Phosphor Creators as well as Phosphor Ecosystem composed of everyone that helps distribute and mint collectibles.
During the Open Beta, we are temporarily giving away the Ecosystem share of rewards to early Creators as a thank you for being the founding members of our Ecosystem, effectively giving 100% back to creators. Learn more here.
4. How does Phosphor make money?
During the Open Beta, Phosphor is foregoing any platform fees for all drops in order to encourage creating, experimenting and collecting.
In the long run, Phosphor platform will become one of the beneficiaries of the Ecosystem Rewards Pool, along other valuable distribution participants (such as referrers, aggregators and collectors), taking a small flat fee for facilitating production of collectibles and other advanced creator features.
5. Do you offer dedicated support and priority service?
For advanced support, please contact us [email protected]
