Secondary Market on Zora

When any posts created on Zora.co (contract version v2.12.3 and above) ends their mint period, a secondary market powered by Uniswap will begin. This creates a liquid and permissionless marketplace where collectors can buy and sell, and creators can earn from secondary activity. A portion of the Mint Fee provides liquidity on Uniswap, and one token for every ten minted during the primary mint window ensures an immediately active secondary market.

This new secondary market allows all posts to always be available in one of the two following stages:

• MINT: The mint stage will remain open until there are 200 x mints on the post. This is subject to a flat mint fee of ✧111 Sparks (0.000111 ETH). This stage is no different from the current Zora mint experience.

• MARKET: The new secondary market starts with a variable price 24 hours after a post has reached 200 x mints. The price starts at ✧111 Sparks (0.000111 ETH) and then increases and decreases based on buy-and-sell activity.

For a further breakdown of our onchain secondary market, check out our writings here.

With our new secondary market model, we are putting forward a new form of creator royalties called Secondary Rewards—they are onchain, built into each Uniswap market, and cannot be taken away.

Uniswap pools allow the creator to specify a fee percentage. ZORA protocol adds liquidity at a 1% fee (as typically recommended by Uniswap for uncommon token pairs). This 1% fee is further split between the original creator of the collection (0.75%) and Zora (0.25%).

Any other LP positions that are not funded by Zora may configure a different fee percentages for their pools. These pools will collect 100% of the fees collected at the fee percentages they set (with no split to Zora)– as is the typical operation of Uniswap.

This new market model allows creators to continue earning from their work beyond the initial mint period. If a creator's mint becomes popular and the market evolves, they can earn for the entire lifetime of the market—which can theoretically be forever.

If you would like more help, don't hesitate to contact our support team via our help centre or tag us on X (formerly Twitter) and Farcaster.