PANews reported on February 18 that according to Cointelegraph, OpenSea has suspended its new XP reward system after receiving criticism from users. Since January 28, OpenSea has launched a beta version of the upgraded market OS2 and introduced the XP system, which provides points for the airdrop qualification of the platform's native token SEA. Users have expressed dissatisfaction with this new mechanism, believing that it is not conducive to creators, encourages wash trading, and is too focused on earning fees.
In response, OpenSea co-founder and CEO Devin Finzer announced the suspension of XP rewards and focused on the XP distribution mechanism. Some community members compared this new mechanism to the Blur platform, criticizing it for not setting a cooling-off period, which led to high-frequency trading, and pointed out that after OpenSea cancelled the creator royalties, XP farming became "zero risk."
