Open Actions are Lens native smart contract calls embedded into a Lens post.
Today, we’re rolling out the NFT Open Action that enables Lens posts to store and execute any NFT interaction on any chain supported by the Decent cross-chain router.
Background
Lens is pioneering social ownership to redistribute economic benefits more fairly and create a better onchain economic engine for creators, users and developers. In this new ecosystem, users and applications are stakeholders and earners – not just products on someone else’s marketplace. We believe this structure will foster a more just content supply chain within the social sphere.
NFT Open Actions
We’re excited to launch NFT Open Actions – a huge step forward in redistributing value within onchain media. Created using the Open Actions toolkit and powered by our friends at Decent.
NFT Open Actions is rolling out with various degrees of integration with leading marketplaces such as SuperRare, Zora, and Pods Media. With plans to support Opensea, Rarible and potentially additional NFT smart contract platforms in the near future. This innovation enables users and applications across the content ecosystem to transact on Lens with external NFT platforms allowing direct and verifiable on-chain monetization. Most importantly it also allows for cross-chain NFTs on various chains of these platforms to be minted directly on Lens, with initial support for NFTs on ETH mainnet, Arbitrum, Base, Optimism, Zora Network and Polygon.
As an evolution of traditional affiliate systems via protocol rewards, this approach ensures all key players in the NFT discovery and monetization process receive a fair share of rewards. That includes creators, curators/amplifiers, and even applications within the Lens ecosystem. By leveraging onchain technology, we believe NFT Open Actions can meaningfully contribute to a more equitable social media economy.
Open actions are expected to be migrated to the recently introduced Lens Network with minimal changes, and will be able to leverage native account abstraction and cross-functionality across all ZK chains.
Fee Structure
When a Lens post contains the NFT Open Action, users can purchase the NFT directly within a Lens application feed. A 5% mint affiliate fee is automatically applied to the purchase price. This fee is then distributed to stakeholders based on the framework below.
Consider the following scenario:
See split of how this 5% fee would breakdown below:
Based on a price of $1,000 on a third party marketplace, the 5% NFT mint protocol fee would be $50. That fee is then distributed as follows::
- Lens Protocol Treasury Fee
- 15% = $7.50
- Creator Frontend Fee (App A)
- 20% = $10.00
- Mirror Fee (User B)
- 15% = $7.50
- Publication Creator Fee (User A)
- 30% = $15.00
- Executor Frontend Fee (App B)
- 20% = $10.00
If there is no User B mirroring the content, the 15% mirror fee is instead divided among stakeholders as follows. See diagram below.
How It Works
Open Actions are Lens native smart contract calls embedded into a Lens post. The action module contains a function to embed any contract calls when a post is created or executed, along with parameters to make each instance of the action unique.
The NFT Open Action enables Lens posts to store and execute any NFT interaction on any chain supported by the Decent cross-chain router.
If a Lens application has integrated the NFTOpen Action and a user creates a post linking to a supported NFT platform, then the open action module is automatically attached to the post. This action module stores information that encodes the NFT action into the post, such as the contract address, chainID, tokenID (ERC-1155) and function signature.
When a post with the open action appears in a Lens feed, applications that recognize the action can render UI elements to allow users to select a payment token and execute the encoded action.
The nft-open-action-kit library simplifies the process by which Lens applications integrate both steps of the open action. This library contains helper functions to generate the open action calldata from an NFT link, and fetch the data to render then execute the action from a feed. NFT collection mappings can be added by submitting a pull request to the library.
