What is the optional fee refund?
What is the optional fee refund?
OpenSea is optionally offering a refund of the platform fees that we earned in connection with participating transactions in Waves 3-6 of our Treasure Chest Rewards program which was not spent on rewards to be distributed to users as part of those Waves. Any user who opts to receive this refund will lose any Treasures they earned during those Waves, which will no longer receive consideration by the Foundation during TGE for $SEA. Further instructions, details, and terms are included below.
What happens if I don't take the refund?
What happens if I don't take the refund?
Nothing changes. Your Treasures stay in your Rewards account and will be meaningfully considered by the OpenSea Foundation at TGE for $SEA.
Can I select a refund for only some, but not all, Waves 3-6 Treasures?
Can I select a refund for only some, but not all, Waves 3-6 Treasures?
No, you must elect either to receive a fee refund for all participating transactions in Waves 3-6 (in which case you forfeit your Treasures) or no fee refund.
What happens to my Treasures if I take the refund?
What happens to my Treasures if I take the refund?
The Waves 3-6 Treasures will be removed from your Rewards account.
How is the refund amount calculated?
How is the refund amount calculated?
Your refund amount equals the total OpenSea platform fees you paid on participating transactions in Waves 3-6, valued in USD at the time of each transaction, minus the USD value of any ordinary prizes you were awarded during those Waves (valued at the time of allocation based on item or collection floor prices for NFTs, or our pricing system for fungible tokens). Grand Prizes are not subtracted. The refund will be paid in Solana, WETH on Abstract, or USDC on Base, depending on the wallet that received your Treasures. For WETH and SOL payouts, your USD refund amount will be converted using the prevailing exchange rate on Monday, March 30, 2026.
When and how can I opt in to the fee refund?
When and how can I opt in to the fee refund?
From Thursday, April 2 at 1:30 PM ET through Wednesday, April 22 at 1:30pm ET, OpenSea will have a webpage to submit a form to opt in to the fee refund.
What happens if I miss the April 22 opt-in deadline?
What happens if I miss the April 22 opt-in deadline?
After the opt-in period ends on Wednesday, April 22 at 1:30 PM ET, refunds pursuant to this offer will no longer be available.
When and how will the refund be paid out?
When and how will the refund be paid out?
The manner and timing of your refund depends on the wallet that received your Treasures. If you used a Solana wallet, and it is not connected on your account to an EVM wallet, your refund will be airdropped in SOL after the opt-in period closes on April 23, 2026. If you used an Abstract Global Wallet, your refund in WETH on Abstract can be claimed instantly. For all other EVM wallets, your refund in USDC on Base can be claimed instantly.
Why is there only a refund for Waves 3 to 6? What about Waves 1 and 2?
Why is there only a refund for Waves 3 to 6? What about Waves 1 and 2?
The Foundation’s TGE is postponed, not canceled. Waves 1 and 2 began before the Foundation announced Q1 2026 timing. OpenSea is offering fee refunds for Waves 3-6 because users may have participated in those Waves with that Q1 2026 timing in mind.