NFT marketplace Blur is offering some traders a 50% refund after a user lost 70 ether (about $83,300) due to the platform's user interface.
A pseudonymous Twitter user with the handle Keung pointed out the issue with Blur's new bidding system, adding that it could have been a human error that caused the mistake. The loss occurred after the user deposited more than 140 ether into the bidding pool and accidentally paid 70 ether for an Art Gobblers NFT. This mistake could have been avoided if the marketplace were to auto-add a zero in front of a bid with a decimal point as its first character, they said. They also suggested disabling the bid button when the bid price exceeds the collection's floor price.
"We originally considered the bid mistake to be a user error because there was no bug in the product per see," Blur wrote in a thread on Twitter. "After evaluating further, we see how this can be considered a bug from the user’s perspective, so we will refund 50% to traders who were affected by this UI behavior."
"Specifically, we will query for collection bids that were accepted over 25% of the non-flagged floor and refund them automatically," the team added. "We'll do this within the next 10 days (likely sooner)."
Blur launched mid-October to much fanfare from the NFT community — muscling in on an increasingly competitive market corner. The move to refund fat-fingered traders comes just days following the platform's second airdrop to its users.
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