Wen Gas station ⛽️

The Gas Station collects all the gas fees from Wen Exchange activities in one place. We distribute these fees in a way that rewards traders and creators.

First of all, Blast has a unique way of refunding gas fees to smart contracts. This is what they explained in its official docs:

When Blast refunds the gas fees to the contract, if you claim the gas fees for a contract immediately after the fees are earned, then 50% of the fees will be sent to the claim recipient and 50% will be sent to the sequencer operator it has 1 month maturity time. This is known as the “claim rate”, and it starts at 50% and increases to 100% over time. For mainnet, the parameters will be set to a 50% initial claim rate, a 30-day maturity period, and a 100% final claim rate.

Instead of the immediate but partial refunding of gas fees, which incurs a 50% fee loss, Wen Exchange has innovated a novel solution: the gas station⛽️. This feature reallocates the collected fees not only to wen token stakeholders and the treasury but also directly benefits traders. This model optimizes the distribution of gas fees within the ecosystem, ensuring a more equitable and incentive-aligned strategy that supports all participants.

Gas fee distribution

To maximize efficiency and ensure no value is lost from not achieving a 100% claim rate, gas fees will be collected every month. This collection process not only enhances the utility of the gas station but also serves as a beneficial resource for two main participant groups within the Wen Exchange ecosystem: active traders and WEN token stakers.

The distribution of gas fees is structured into three distinct segments:

1. Wen Exchange Users

   Active participants engaging in bidding, buying NFTs, and listing NFTs on Wen Exchange are eligible to receive WEN airdrop points. A significant portion, amounting to 73% of the collected gas fees, is allocated for refunds to these users, rewarding their platform activity.

2. Wen Token Stakers

   After we start issuing the first WEN tokens, those who stake their WEN tokens in WEN staking farm will receive a 20% of the gas fees collected. This rewards long-term support and participation in the Wen ecosystem.

3. Treasury

   The treasury will amass 7% of the gas fees, dedicated to funding further development and growth of the platform. Importantly, decisions regarding the allocation and expenditure of the treasury funds are democratically made by WEN token holders, ensuring community involvement in the strategic direction of Wen Exchange.