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Implement Minting Fee Increase Across All Chains

Open erichfi opened this issue 2 years ago • 0 comments

User Story:

As a Passport platform developer, I want to implement an increase in the minting fee from $2 to $3 across OP, Linea, and any other chains supported by this time, So that I can align with the strategic goals of revenue optimization and the rollout of Identity Staking V2, while ensuring the platform continues to provide value to its users.

Acceptance Criteria

GIVEN a user initiates the minting process on any supported chain (OP, Linea, etc.), WHEN the transaction is confirmed, THEN the minting fee charged is $3, accurately reflecting the updated pricing model.

Product & Design Links:

Tech Details:

  • The minting fee logic within the smart contracts or the payment processing system needs to be updated to reflect the new $3 fee. Ensure compatibility across all chains and check for any chain-specific adjustments required.
  • Update the user interface and documentation to indirectly reflect this change without explicitly announcing the price update. This might involve ensuring that any displayed fees are dynamically fetched from a central source of truth to remain accurate.
  • Implement monitoring tools to closely observe the transaction volume and user feedback following the implementation, to assess the impact of the fee change.

Open Questions:

  • [ ] How will the change be communicated within the platform to ensure user awareness is managed subtly?

Notes/Assumptions:

  • It is assumed that the increased fee will not require changes to existing contracts but will be an update in the dApp interface and backend systems where fees are processed.
  • The platform's user base is assumed to be relatively price inelastic to this change, given the added value of Identity Staking V2 and the lowered transaction costs on L2 networks.
  • There is an assumption that all necessary analyses (user sentiment, market comparison, and competitive pricing) have been conducted to justify the increase from $2 to $3.

erichfi avatar Mar 26 '24 10:03 erichfi