This channel is where the Magic Eden team will post official responses to proposals submitted through the Product Improvement Impact Program. Here, you’ll find updates on whether proposals are approved, declined, or require further iteration, along with context behind each decision. Our goal is to provide transparent, timely, and actionable feedback so the community can see how ideas move from suggestion to potential implementation.
14 Likes
Lucky Emmy Thaw & Burn Official Response
Existing Lucky Emmys can’t ever be thawed or burned. Full stop.
The smart contract was built this way on purpose. Once they exist, they’re permanent.
This permanence was originally thought to be a feature, not a bug. A way for you to flex your participation in perpetuity.
We are now actively looking into ways to make the Lucky Emmy NFT’s burnable going forward. If it is possible, we will implement.
— Magic Eden Team
8 Likes
NFT lending, borrowing, fractionalizing, etc.
What We Found:
Existing TAM is small: SharkyFi is the leader in Solana NFT lending. They’ve done ~95% of all NFT loan volume on Solana and still only reached around 14,000 total users to date, with $1.2 million in revenue in their peak year of 2023. That’s a fraction of the NFT ecosystem overall. Even with that dominance, the business is still niche.
High engineering lift, modest upside: Building lending, fractional vaults, and rental systems would take major smart contract work (pricing oracles, collateral logic, vault governance, timed rentals, etc.) plus ongoing maintenance and security audits. The reality is that, even if successful, usage probably won’t scale far beyond the small power-user crowd.
Doesn’t fit the core Magic Eden business: Marketplace discovery, trading, creator tools, and community experiences are where Magic Eden is strongest. Lending and fractionalization are net-new products. They’d require dedicated liquidity management, risk oversight, and business ops very different from how we currently run.
Why We’re Not Pursuing This:
When we weigh the cost, upside, and focus, it doesn’t add up for us:
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Huge build + ongoing overhead vs. relatively limited adoption so far.
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Would distract us from the core marketplace experience and new user growth.
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Doesn’t bring in “new excitement” for the wider collector base as it mostly serves existing heavy users who already know about these tools.
Closing:
Your proposal shows exactly the kind of creativity we want in the community. Even though we’re not moving forward with these ideas inside Magic Eden, we’d love to keep the dialogue open and work on concepts that bring fresh energy to collectors and creators. Thanks again for putting the time into this, it means a lot.
—The Magic Eden Team
6 Likes
New Lucky Buy Feature
We really like this idea! A “secured Lucky Buy” where buyers always get the NFT while still having a chance at a discount could be a great evolution of the Lucky Buy experience. It addresses one of the biggest points of friction, losing the raffle entirely, while still adding excitement and upside.
From a platform perspective, it also has some interesting potential second-order effects:
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Could encourage buyers to pay a premium for access, which may help floors.
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Feels fairer and less frustrating since buyers never walk away empty-handed.
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Creates a new mechanic that’s simple to understand but different enough to stand out.
That said, before we commit, we’ll need to do some market research on appetite for this model and dig into the technical difficulty of building an MVP. There are a few things we’ll need to evaluate, like smart contract mechanics, fairness/randomness, and how the discount distribution is handled on-chain.
Overall, this is a strong proposal and we’re excited to explore it further. We’ll take it into a deeper research phase to validate demand and assess feasibility. Thanks again for putting this together. This is exactly the kind of fresh thinking we want around Lucky Buy.
— Magic Eden Team
6 Likes
Sell Side Royalties Official Response
We’ve reviewed the proposal to shift royalties sell-side and want to be transparent about the trade-offs. On paper it may seem like a collector-aligned adjustment, but in practice it creates a structural disadvantage for Magic Eden unless every major marketplace implements the same change at the same time. The reality is:
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90%+ of total trading volume in NFT collections occurs at the floor. If this shift takes place, then the floor effectively shifts higher on Magic Eden. That makes it instantly cheaper to trade the same NFTs on Tensor (or any marketplace that does not adopt the change).
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Because we aggregate listings across marketplaces, sellers would have maximum incentive to list on Tensor or elsewhere. They avoid the royalty fee but their listing still shows up on Magic Eden.
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This dynamic would essentially hand over our entire SOL floor market share and If only Magic Eden does this, it will accomplish nothing for NFT projects.
We are open to building it, but it is at least a month’s worth of engineering work. If Magic Eden were the only one to make the switch, it would be self-sabotage. The only way this works is if the ecosystem moves together. For that reason, our position is clear:
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If Tensor commits to the same shift, we will align and execute the change.
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If only Magic Eden moves, we risk undermining our market position.
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If any competing marketplaces launch in the future, we may revert based on their configuration.
We’re not dismissing the idea. We’re saying the implementation must be coordinated.
2 Likes
Shared Escrow Official Response
Thanks for the thoughtful proposal. We completely agree with the core motivation: our current AMM setup could be more capital efficient, and shared escrow is a clear way to improve liquidity provision and quality of life for AMM providers. Right now, idle SOL being locked in isolated offers is a real limitation, and we know it restricts participation across collections.To give some context:
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We’ve long recognized that our AMM system is in need of a rethink.
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Shared escrow is absolutely on our radar, and we see it as a first step toward a broader revamp of AMMs and trading on Magic Eden.
So, in short:
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Yes, we want to pursue this.
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Yes, shared escrow is part of the fix.
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Rather than a one-off patch, we want to be bold and take this as part of a larger rebuild of our AMM product, so we can not only catch up to competitors but also leapfrog with better tools for traders.
We see this as a P2 priority. Change will not be immediate, but this is absolutely something we plan to tackle in the near term.
2 Likes