Description of Work

In this bounty we want to Find the wallet that collects Opensea Fees and showing how much Opensea has earned through Polygon transactions. To do this, we examine the following:

• Find the Wallet that collects Opensea Fees
• Total Opensea earned from Polygon transactions
• Daily Opensea earned from Polygon transactions

Method

To do this, we must first find the opensea main contract, then find OpenSea: Wallet or the address of the wallet that collects the Opensea Fee.

• Opensea main contract: This contract address is the main address of Opensea transactions on Polygon, whose contract address is:

  • 0xF715bEb51EC8F63317d66f491E37e7BB048fCc2d → polygonscan

• OpenSea: Wallet: The address of the wallet that collects Opensea fees and its address is:

  • 0x5b3256965e7C3cF26E11FCAf296DfC8807C01073== → polygonscan

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After finding these two addresses, we need to check how Opensea earns on Polygon. When a transaction related to the sale of NFT is made in Opensea on Polygon, an NFT is transferred from a seller's address to a buyer's address through opensea main contract, then the amount of NFT is transferred from the buyer's address to the seller, and from the seller's address the NFT transfer fee is transferred to OpenSea: Wallet through opensea main contract.

Now how do we get this transaction fee for NFT transfer in Opensea using Polygon database?

• To do this, we use the flipside_prod_db.polygon schema and the udm_events table and find transactions that meet the following conditions:
  • from_address = ‘0xf715beb51ec8f63317d66f491e37e7bb048fcc2d‘ → opensea main contract
  • to_address = ‘0x5b3256965e7c3cf26e11fcaf296dfc8807c01073‘ → opensea: wallet
  • event_name = ‘transfer‘
  • event_type = ‘erc20_transfer‘
• After finding these transactions, we need to calculate the sum of amount_usd (sum(amount_usd )), but in some records this value is empty.
  • So we must first find the Price USD of each token with which the fee was paid on that date using table fact_hourly_token_prices in ethereum.core schema. All fees are paid with 4 tokens REVV (REVV), Wrapped Ether (WETH), (PoS) Dai Stablecoin (DAI) and USD Coin (PoS) (USDC). Then we calculate Opensea earned from Polygon using the total sum(amount_usd) in general and over time

Sample transaction

1 → Opensea total earn from Polygon transactions

Observations

• The total number of transactions related to transfers to the Opensea Fee collector wallet through Polygon is 11.04 M transactions.
• The total Fee (earn) in USD related to transfers to the Opensea Fee collector wallet through Polygon is 13.93M USD transactions.

2 → Daily Opensea Fee from Polygon transactions

Observations

• The highest number of transactions and the volume of Fee related to the transfer to the Opensea Fee collector wallet through Polygon is related to the late 2021 and the months of Jan and Feb 2022
• From Mar 1, 2022, the number of transactions and the volume of fees are decreasing, and Opensea earn through Polygon is decreasing.

3 → Opensea Fee from Polygon transactions per year

Observations

Of Opensea total earn through Polygon, 47.2% is for 2021 and 52.8% is for 2022.

Conclusion

• Opensea total earn through Polygon is 13.93M USD, of which 47.2% is in 2021 and 52.8% is in 2022.
• The highest earn of Opensea through Polygon is related to the late 2021 and the months of Jan and Feb 2022, and from March 2022, Opensea earn is decreasing.