The new fees and fee levels on Magic Eden are in beta mode and we will continue to experiment with our fee structure. Please note they are subject to change without notice, at any time, at the discretion of Magic Eden.
You may be seeing "Maker" and "Taker" fees for the first time. Your rewards level will determine your fees. You can see your rewards level in your user profile and you can read more about rewards levels, fee percentages, and how the rewards cycle works in this article.
Maker Fees
Makers are those that provide liquidity to the marketplace either by selling items (through listings) or making offers. The easy way to think about this is the the Maker is the first person to interact with the marketplace. The maker fee is NOT charged when listing an NFT or making an offer, but rather at the point of sale.
Taker Fees
Takers are those that receive the liquidity provided by the makers by way of buying items, selling against an offer or instant selling against a collection offer.
Transaction Examples
Buying a normal listing
In this example the Buyer (4ieP) pays the taker fee which is determined by their rewards level. The Seller (5Enr) pays the maker fee which is also determined by their rewards level. Our smart contract creates a temporary intermediary account (4Zni) where the Buyer sends the listing price + the taker fee. The intermediary account then sends the Seller their profit from the sale and the maker + taker fees to Magic Eden (rFqF).
The Buyer (4ieP) sends the listing price (0.01 SOL) + taker fee (0.01 SOL * 0.013 = 0.00013) to the intermediary account (4Zni)
The intermediary account (4Zni) sends listing price - maker fee to the Seller (5Enr)
0.01 - (0.01 * 0.002) = 0.0998The intermediary account (4Zni) sends the remainder from initial amount sent (0.01013) to Magic Eden (rFqF) as maker + taker fee. The total fee should be 1.5% of listing price, so 0.01 * 0.015 = 0.00015
Total amount sent by Buyer (taker): 0.01013 = listing price + taker fee = 0.01 + 0.00013
Total amount sent to Seller (maker): 0.00998 = listing price - maker fee = 0.01 - 0.00002
Total amount sent to Magic Eden's fees wallet: 0.00015 = listing price * (maker + taker fees) = 0.01 * (0.013 + 0.002)
Buying an OCP listing
In this example the Buyer (4UGq) pays the taker fee which is determined by their rewards level and the royalties set by the Creator. The Seller (2sMm) pays the maker fee which is also determined by their rewards level. Our smart contract creates a temporary intermediary account (HiST) where the Buyer sends the listing price + the taker fee + royalties. The intermediary account does three things at the same time... It sends the royalties to the Creator, the Seller their profit from the sale, and the taker+maker fees to Magic Eden (rFqF).
The Buyer (4UGq) sends listing price (15.7 SOL) + royalties (4%, so 15.7 * 0.04) + taker fee (15.7 * 0.013) to the intermediary account (HiST)
15.7 + (15.7 * 0.04) + (15.7 * 0.013)= 15.7 + 0.628 + 0.2041
= 16.5321The intermediary account (HiST) sends the royalties, split equally, to two different Creator wallets.
0.628 / 2 = 0.314
The intermediary account (HiST) sends the listing price - maker fee to the Seller.
15.7 - (15.7 * 0.002) = 15.6686The intermediary account (HiST) sends the maker + taker fees to Magic Eden (rFqF)
(15.7 * 0.002) + (15.7 * 0.013)
= 0.0314 + 0.2041
= 0.2355
Total amount sent by Buyer (taker): 16.5321 = listing price + royalties + taker fee = 15.7 + (15.7 * 0.04) + (15.7 * 0.013)
Total amount sent to Seller (maker): 15.66 = listing price - maker fee = 15.7 - (15.7 * 0.002)
Total amount sent to creator's royalties wallets: 0.628 = listing price * royalties % = 15.7 * 0.04
Total amount sent to Magic Eden's fees wallet: 0.2355 = (listing price * maker fee) + (listing price * taker fee) = (15.7 * 0.002) + (15.7 * 0.013)
Accepting an offer
In this example the Buyer (8D3G) pays the maker fee which is determined by their rewards level. The Seller (4ieP) pays the taker fee which is also determined by their rewards level. The Buyer sends the offer price + maker fee to the Seller. The Seller sends the maker + taker fees to Magic Eden (rFqf). Then Magic Eden sends the NFT to the buyer.
Buyer sends offer price (0.025 SOL) + maker fee (0.025 * 0.002) to Seller
0.025 + (0.025 * 0.002 = 0.02505Seller sends maker + taker fee to Magic Eden's fees wallet
(0.025 * 0.002) + (0.025 * 0.013)
= 0.00005 + 0.000325
= 0.000375
Total amount sent by Buyer: 0.02505 = listing price + maker fee = 0.025 + (0.025 * 0.002)
Total amount sent to Seller: 0.024675 = listing price - taker fee = 0.025 - (0.025 * 0.013)
Total amount sent to Magic Eden's fees wallet: 0.000375 = maker + taker fee = (0.025 * 0.002) + (0.025 * 0.013)
Instant selling
In this example the Buyer is also represented by an AMM Pool account. The Buyer Pool Account (DddE) pays the taker fee which is determined by their rewards level from the Buyer's (5Enr) wallet. The Seller (4ieP) pays the maker fee which is also determined by their rewards level. The Buyer Pool Account (DddE) sends the instant sell price - taker fee to the Seller (4ieP). The Seller sends the maker + taker fees to Magic Eden (rFqf). Then the Seller sends the NFT to the Buyer.
Pool account (DddE…) owned by Buyer, sends instant sell price (0.01 SOL) - taker fee (0.01 * 0.013) to Seller 0.01 - (0.01 * 0.013) = 0.987
Pool account owned by Buyer, sends maker + taker fee to Magic Eden's fees wallet
(0.01 * 0.002) + (0.01 * 0.013) = 0.00015
Total amount sent by Buyer (via pool account): 0.01002 = listing price + maker fee = 0.01 + (0.01 * 0.002)
Total amount sent to Seller: 0.00987 = listing price - taker fee = 0.01 - (0.01 * 0.013)
Total amount sent to Magic Eden's fees wallet: 0.00015 = maker + taker fee = (0.01 * 0.002) + (0.01 * 0.013)
FAQ
Will I be charged a fee when listing?
No, there is no fee charged when listing an NFT. The maker fee is only charged to the seller when their listing is sold, or to the buyer when their offer is accepted. Fees are only charged at the point of sale.