Does Storj company plan to provide more STORJ liquidity on zkSync Era?

1

Hi!

zkSync Era is awesome and I’m glad that Storj made me know about zkSync (Legacy/Lite, then Era).

I recently changed the payment mode from zkSync Lite to zkSync Era.
Now, I’m facing a problem as several SNOs here: how can I sell those tokens onchain at the real/fair market price?

STORJ can be swapped on SyncSwap (just to name one of the main DEX) but since liquidity is so low, I would sell for a huge discount.
Some independent STORJ holders could add more liquidity (including me) but I think it would really help the ecosystem (SNO and clients who pay in STORJ) if Storj Company would add significant liquidity in a STORJ/XXX pool (either STORJ/USDC, STORJ/DAI or STORJ/ETH).

Is that something you guy consider or would consider?

Another suggestion that came to my mind (might not be good idea, I just dropped it as it comes ^^):

  • Why not creating a STORJ Staking Smart contract, that Storj company could use to provide liquidity to some Liquidity Pools?
    • Some STORJ holders would lock some STORJ in it to earn some rewards. To keep track of it, they would receive stSTORJ tokens after locking STORJ in it. When they want to get their STORJ back, they just ask the Smart Contract and get STORJ tokens based on the amount of stSTORJ they send back ;
    • Storj company would use this “vault” to provide liquidity in a liquidity pool ;
    • Some other STORJ holders could just decide to swap their tokens on a liquidity pool.

Thanks a lot!

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I consider this since a while, but i have to aquire some tokens first.

3

The company shouldn’t be involved with liquidity pools. If the market doesn’t have sufficient interest in zkSync Era (and STORJ on that network) then those LPs should die a natural death.

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4

In general Storj Labs does not perform direct financial actions to influence or manipulate the Storj token price. So, this is not likely to come about through company action.

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5

And the project too.
Because if SNO cant sell their tokens, a lot of them wont be able to keep up (you dont pay your bills with STORJ).
If Storj “pushes” for zkSync Era adoption by SNO (which is a good move, in my opinion), they should help creating good market conditions.

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I dont see it as a “market manipulation”.

7

Anyway.
Maybe contribution by Storj to liquidity pool is not a thing you up to.

So do you have any plan to address the issue I stated in my original post?
Or do you plan to consider it in some way?
Whats your propositions?

8

From the company’s perspective I can only tell you that any actions involving the token are typically not acted on for legal reasons.

9

They support Era solely to avoid monthly payout L1 gas fees: it’s cheap!. If you don’t think your payouts are useful on Era… use a L1 exchange address like so many others do.

I could spin this the other way: if you want to help create “good market conditions”… then hodl your STORJ :wink:

1 Like
10

Ok I won’t fight.
Too bad.