I tried another time.
Below are the screenshots of all the steps I followed.
Is there anything wrong in what I did?
I precise that I imported my private key into metamask in order to use my existing wallet (previously created with MEW wallet).
Thanks all for your help
Transaction gas fees are sometimes volatile. The Uniswap contract exchange includes a time limit. If the gas fee is too low, a typical transaction will wait until a miner accepts the transaction for inclusion in a block. This may take weeks if one sets the gas fee at some low level. However, Uniswap has a time limit to avoid this situation.
So…
In your case, it’s likely the gas fee was volatile and the transaction timed out before completing. The smart contract reverted the exchange… and so, your wallet balances were left as is minus the expended gas fee for the non-completed transaction.
I’ve run into this problem sometimes when using Metamask. The gas fee selection algorithm sometimes chooses a fee that’s quite low in a volatile gas situation. I typically double check gas fees with the ETH Gas Station before hitting “Submit”
On Uniswap Fees
The liquidity fee is 0.3 % … However, it’s 0.3 % Per Liquidity Pool per Exchange Path
In exchanging a token for ETH, there’s 0.3% to STORJ and 0.3% to ETH. Furthermore, some tokens require one buys other tokens first. Each token pool along the path gets 0.3 %
The fees can add up fast. However, my experience has so far been that any given token exchange has been least costly using Uniswap versus any other platform or exchange.
At nearly 600 STORJ, I would wait until there’s a lull in the gas prices and reasonable stability in STORJ-ETH exchange. One could wait forever until the “right moment” … or just take the plunge. Either way, watch the gas.
Thanks.
Ok I will try with higher gas fees.
But I don’t understand why the swap is still “pending”, as in the following screenshots:
Indeed, when I started the swap on uniswap, I set the deadline to “20 minutes”
So why is it still “pending”, more than 1 hour later?
Check the transaction details on Etherscan. Make sure the transaction is marked as “Failed”. If the transaction is still pending and not failed, you may need to wait until it fails or is picked up by a miner.
If you get desperate, you can resubmit the transaction with a higher fee through Metamask’s “Speed-Up Transaction” button.
Submitting a second transaction won’t do anything. The transactions are processed in sequence on the blockchain. So, the second transaction will wait until the first one is processed.
Thanks.
Actually, I am not desperate. I just want to understand why the transaction didn’t fail after 20mn since I set the “deadline” parameter in uniswap with “20 minutes”. I thought it would mean “if the transaction is not a success after 20mn (because of too low gas fees for example), it’s failed”.
Am I wrong?
If so, how should I understand this “deadline” parameter in uniswap?
Your reasoning matches my understanding… However, perhaps there’s an implementation issue in the Uniswap smart contract…
EDIT
After checking my own uniswap transactions, the transaction expiration time is included as an input in the smart contract.
The function call header is list as:
Function: tokenToEthSwapInput(uint256 tokens_sold, uint256 min_eth, uint256 deadline)
And the third input is the expiration deadline as a UTC UNIX timestamp encoded as a hexadecimal number. I haven’t checked yet to see if the smart contract utilizes this value. However, it’s definitely included in the input.
Thank you.
So if I well understand, if I want to swap STORJ with ETH, I have 2 options:
Am I right?
Sounds about right…
Uniswap is a contract interaction, so the transaction fees may be a bit higher than a simple wallet to wallet to transfer. The amount of gas used will be more than in a simple transaction. So, Metamask may need to be told to use more gas…
For Uniswap swaps, my Metamask settings allow for 75,000 gas units.
So, at current “Fast” gas prices right now, the maximum transaction fee would be set to:
42 Gwei * 75,000 units * Price of ETH
0.000000042*75000*246 = $0.7749 USD
That’s a max spend on the transaction, after that an “Out-of-Gas” error would occur.
On a simple wallet to wallet transaction, the amount gas used is generally under 10,000 units, but 21,000 is a basic default setting.
Gas prices are very expensive and will only go up as the value of ETH goes up. Unfortunately, STORJ token is part of ETH erc20 token so we are tied to the gas fees if we want to convert, send to an exchange to cash out, or just send it to someone else. The example beast provided shows how much it costs to convert STORJ to ETH and then you would need to perform another transaction to send your ETH to an exchange which incurs another gas fee. So unless you have a lot of STORJ to make these swaps and transactions worthwhile, it is not worth it to do anything with your STORJ.
Ethereum 2.0 is just around the corner… hopefully.
Proof of Stake should take all the volatility, and expense, out of transaction fees.
Continuing this thread a little, could some one explain to me the best way of converting Storj to BTC or ETH please. I was getting it sent to my Nicehash account Storj wallet but with the fees being so high, each time I received Storj, the amount received was lost due to the fees being greater than the amount received. I am looking for a simple & cost effective means to received Storj, and convert to BTC or ETH. I have have also tried MEW wallet but nothing turned up in my account when I listed the address in docker as the payment address. Then I tried Atomic Wallet but the fees again are way too high. I also have crypto.com app installed but no Storj wallet. I have no idea how to get Metamask to work. Each time, a months payment is lost either due to high fees or Storj just not arriving in my wallet. 4 month of running a node and not a penny ‘received’ to date.
After I tried Uniswap, I can tell I really love the concept and the way it works.
I would recommend you to use MEW wallet. There, you can easily swap you STORJ for ETH inside the MEW website.
Or you can alternatively use http://uniswap.io which is very easy to use and with low fees (0.3%). Just convert a few amount of STORJ each time (it seems counter intuitive but it is due to the uniswap concept. You can read a lot of things about it). There, you can also easily convert STORJ for WBTC, which is an ERC-20 token indexed on BTC value.
Thanks @jeremyfritzen. I am currently using MEW as a receiving wallet but nothing arrived in my wallet last month. Maybe I done something wrong, I don’t fully understand MEW but I followed the advice given on another post on this forum with no luck. After 4 months of no luck in making costs break even with my Storj node earning, I am looking for a simple guide to receiving Storj token in a wallet that I can convert with ease to either BTC or ETH.
I suggest Exodus - you can use it on a desktop or phone or both synced to each other. It will hold Storj and allow you to easily exchange it with many other crypto coins.
Where did you find your address? Could you provide a screenshot (and hiding some characters for privacy concerns)?
Could you paste the docker run command you used to setup your container?
For your information, payments are sent in the first 2 weeks of the next month. So payments for June will be sent to your address by mid July. Be patient.
check your address on etherscan.io, if you have storj there you have it on MEW as well. Or read faq how to use it.