Exorbitant Otherside mint gas fees refunded, Yuga says

Yuga Labs claimed on Twitter that all gas fee refunds following the Otherside mint have been issued, but users are far from content.

According to Yuga Labs, everyone who attempted to buy an NFT for the Otherside metaverse and “failed due to network conditions caused by the mint” is eligible for a refund issued by MultiSender, an app which specializes in batch sending ERC20 tokens.

The team also told users not to interact with suspicious tokens or third-party sites requesting wallet connection, signaling a more proactive approach to potential scams after an April Instagram attack resulted in the theft of dozens of NFTs.

The Otherside mint, which took place on April 30, turned out to be the most successful NFT launch event to date. The first 24 hours saw Yuga Labs record $561m in sales. As a result, gas fees skyrocketed and over 55,000 ETH were burned, jamming the Ethereum mainnet and sending shock waves across the Ethereum community.

Not enough?

To mint an Otherdeed, people needed to register their Ethereum wallet and complete KYC checks.

The price was set at 305 APE, so prospective buyers also had to get enough APE ready in their wallet to pay for the NFT, plus a sensible amount of ETH for gas fees. For many, this meant exchanging other coins to APE.

After the mint went south, the price of APE nosedived, leaving Otherside fans with even bigger losses. This led some verified APE holders to complain that gas fee refunds were not enough. In response, they created a petition requesting Yuga Labs to reopen the mint for those who performed the KYC checks, then failed to scoop up an Otherdeed due to gas war.

7-day chart of APE price
APE price action over the last 7 days. Source: CoinMarketCap

At the time of writing, the petition was signed by over 80 people in hopes that a part of the remaining 100,000 NFTs, reserved for contributors, would be made available for another round, but there’s no indication that Yuga Labs is considering this.