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

they said that wire transfers and stuff like that are even illegal in some countries, therefore they’re not considering that.
there was actually no response on USDT idea (ignored)
anyway, they would probably need to dump some tokens on the market first

if that would be a real company with stocks, we would see an impact of this situation on the price already. I am actually getting worried of the token’s price now :wink: bc the project turned out to be unreliable

Hi!
What about those in which should receive the held amount?
I have 2 months for 6USD (Dec. and Jan) + i should be receiving this month held amount of 158USD + the previous 2 months (DEC. and Jan.).

Althoug, atm, after the last update, in my node dashboard it shows that i have that amount of held amount but it erased the held amount history, showing nothing for all the nodes.

I haven’t been paid yet for any held amount.

But you see my point?

I see your point, but when the choice is to enforce SNOs to take market risk vs ensuring the SNO will always get the dollar amount they are promised, I think they made the right decision.

You can always buy tokens if you want to take on that market risk anyway, but if they held your amount in tokens you would take a market risk you can’t exit out of.

It’s going to have to be either A or B. And the people who don’t want B have a more solid argument than those who don’t want A. So A it is.

Yes, I can actually see the stability point of view, but if we are going to use that point of view, I would guess the people also want a stable payout rate.

So either way, this is a bad situation.

Then of course, you could look at this as a project, and think that it is fine anyhow… There is always a way to defend this, but the fact is that there are an issue and it needs to be resolved. I hope there’s a bright mind out there, that can figure out an easy solution.

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Is this an L2 exchange? Did anyone tried? https://www.deversifi.com/
Currently Storj is not listed there but they said, they can if they talk with the Storj Team

I have 10 Nodes and this month I did not receive my payout :sob:

Damn Ethereum

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The USDT is also just an ERC20 token, so the same transaction costs will apply.

Should go with an SLP token and never have to worry about fees again.

I am not sure how to get paid, or check how much token is held. I connected my Metamask to the Zksync system. How do I request my payment to go through?
the message on the interface is this:
Screen Shot 2021-02-10 at 5.54.35 PM
The trial tokens link does not work right now.
Not sure what to do from here…
Thanks
ilan

Personally, I’d be quite happy to let Storj keep my earnings in IOUs of sorts until a moment when I decide I want to “cash in”.
Yes, there’s a little risk for us (if Storj goes bust we’ll lose the money) but as I’m not doing this for the moolah, it would mean one single transaction for multiple months and multiple nodes.

(Sorry, not sure if anyone already suggested this but the thread is so HUGE now that I admit to having skipped it a bit)

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Forgive my ignorance, but how does Storj determine when to perform the payouts? Because while at that instant the gas price may be rather high, it may just as well be lower the next hour / day. Does / could Storj monitor gas prices and initiate payouts when the gas price is lower? Gas prices seem to be fluctuating a fair bit.

I get that high gas prices are not within StorjLab’s control, but surely Storj could watch prices and initiate payouts at a more optimal time?

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Can you make payments now?

Gas is at $ 3.62

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Exactly… If the payment were made around this time think of how much less angry the SNOs would be

Or even have multiple payout cycles, the main one at the start of the month, then a second payment run a week to 10 days later if prices are lower to send out more payments.

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We sending USD by tokens. This is a whole point. As @BrightSilence said:

We do not involve you to take market risks, we sending you USD in tokens on date of payout. If you want to take market risks - it’s up on you.

We do not cancel payments. Please, do not confuse people. We postpone your payout to the level when it’s economically viable to send them. We always responsible for paying and we pay to our SNOs. This will not change. You will receive your payout sooner or later and exactly the same USD value which we owe you.
This is the exactly the same situation as with mining pools - you can receive the amount only higher some threshold. Here is exactly the same situation - you will receive a payout as soon as it cross the threshold.
You can check that on blockchain, you do not need to trust me. We always paying. Maybe not in the exact date, but we paying to our SNO. Always.

The other option - is opt-in for L2, then you will see your payout immediately and can withdraw when you want and with fee acceptable for you. I suspect the withdrawal will not be more often than you currently can receive a payout on L1 for exactly the same reason - the high transfer fee.

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You should opt-in for L2 first, then we can send you payout via L2.
The next version should have an option in the config file to specify that you want to receive payouts via L2.

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The fee for ERC20 transfers is $11.20

  1. Wait for storagenodes to complete sending orders (48-96 hours)
  2. Create invoices for customers (another 24 hours, if there is no issues)
  3. Calculate payouts and send it as soon as possible within the first two weeks preferable in workdays.

Now we forced to add another step - determine the average fee and calculate the minimum threshold

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