Feb. 8 Update on SNO Payouts and High Ethereum Gas Prices

One concrete followup - the threshold for the payouts going out now is $69.62. Here’s how we calculated this:

The median gas price from the last 12 hours is 278 GWei. Looking over the last 8 days, today looks like the best day since the 1st. STORJ token transactions cost a variety of different Gas amounts, depending on circumstances like whether the destination has received STORJ before. Gas can be as high as 51508, but could be as low as 36496. For the purposes of calculating a minimum, we assumed 36508 (which is the lowest reasonably common value, though 51508 is also fairly common). So, 278 GWei * 36508 is .010149224 Eth per transaction. At current Eth prices, 1 Eth is $1714.96. That means a transaction costs $17.41. Our minimum threshold policy (above) is that the transaction fee can’t be more than 25% of the payout, which means we’re doing payouts at 4x $17.41, so $69.62.

If you didn’t meet the threshold last month, this month and last month’s payouts count toward this threshold. If you still didn’t meet this threshold this month, your undistributed amount from this month (and previous months) will count towards your payout next time.

The month of January’s payouts (being sent now) should be completed by the 15th if not sooner.

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