What if you could be rewarded for publishing free articles or collecting your favorite articles on Mirror? Protocol rewards are the latest iteration on Mirror’s Writing NFTs. Now, Mirror’s mint fees are split between creators who publish free Writing NFTs, the first person to mint a Writing NFT, and people who refer Writing NFTs they’ve collected to other collectors.
With the advent of fast, inexpensive Layer 2 networks like Optimism, Base, Linea, and Zora Network, we truly are beginning to see collection behavior in web3 resemble “likes” on web2 social networks. Collect to show appreciation for a post; collect to tip the creator; collect to keep track of interesting ideas you read online. And now, earn a reward for yourself and for the creator via your collection activity.
Types of Rewards
Creator Reward
Free mint: 0.000276 ETH
A creator reward is earned by a creator after someone mints their entry as a free Writing NFT. Note that the Writing NFT must be free to earn this reward.
First Mint Reward
Free mint: 0.000138 ETH
Paid mint: 0.0001725 ETH
A first mint reward is earned by a collector when they are the first to mint an entry as a Writing NFT. This reward is earned by the first collector after every additional mint of the Writing NFT, too.
Note that since Mirror introduced Writing NFTs, we’ve used a “lazy minting” feature. This means that the creator doesn’t pay gas costs to deploy the Writing NFT smart contract for their entry, or for collectors to mint their Writing NFTs. Instead, the first collector to mint an entry as a Writing NFT pays the deployment cost, and each subsequent collector also pays the gas costs to mint an NFT. The first mint reward helps defray those already marginal deployment costs.
Referral Reward
Free mint: 0.000069 ETH
Paid mint: 0.0001725 ETH
A referral reward is earned by a collector when someone mints a Writing NFT they discovered through that collector’s Mirror posts or collection feed. If the mint isn’t the result of an attributed referral, this amount is added to Mirror’s platform fee.
For example:
Reward Split Details
Split on 0 ETH mints:
- Creator reward: 40% (0.000276 ETH)
- First minter reward: 20% (0.000138 ETH)
- Mint referral reward: 10% (0.000069 ETH)
- Mirror platform fee: 30% (0.000207 ETH)
Split on paid mints:
- First minter reward: 25% (0.0001725 ETH)
- Mint referral reward: 25% (0.0001725 ETH)
- Mirror platform fee: 50% (0.000345 ETH)