Jan 14, 2022: Payouts for the month of December are now complete, and Polygon announcement

Hello! January payouts for December are complete.

First up, Payments:

For layer 1 payments, we paid 1135 unique wallet addresses, up from 693 last month. All of these wallet addresses earned enough that the fee wasn’t more than 25% of the payout amount. As a reminder, we are planning to further restrict this minimum payout threshold to 10% in the coming months. As stated in prior months, there was no specific minimum. Unlike prior months, this did show up in a significant way - it appears that our layer 1 pipeline found a low gas window and sent payments for node operators that earned in the ballpark of $35 to $41 last month, but then did not find another window until $71. So if you earned below $35 or between $41 and $71 dollars and did not specify zkSync, unfortunately you’ll have to wait for next month.

As a reminder, the exchange rate is pulled from CoinMarketCap at the time the transfer is performed. We do not determine the amount of STORJ until within five seconds of actually sending the transaction to Ethereum, to avoid as much STORJ/USD volatility as possible.

For zkSync payments, We paid 1218 unique wallet addresses. Everyone who opted into zkSync got a 10% bonus (and will again next month)! Thanks for participating in the future of Ethereum scaling with us!

Across both layers, we paid 2348 unique addresses. If you did not get paid and did not opt into zkSync, we’ll hang on to your payment in case fees drop next month or you accrue more.

Second up, Polygon:

We are announcing a Polygon trial! If you would like to be the first to be paid not using Ethereum layer 1 or zkSync, add polygon to your list of wallet features (instructions are below)!

Please note that choosing to use Polygon is at your own risk and discretion. It is worth noting that the security properties of Polygon may be lower than that of layer 1 or zkSync. We are responsible up until the transfer is performed, and then the security of your funds is your responsibility.

The wallet features value is an ordered list and can include multiple values. Here is how you would specify preferring Polygon to zkSync, and zkSync to layer 1 in your config file:

operator.wallet-features: ["polygon", "zksync"]

And here is how you would specify it on the command line:

--operator.wallet-features=polygon,zksync

If you don’t want zkSync and want payments to fall back to layer 1 directly, don’t add zkSync to the list of supported wallet features for your node.

Just like when we first experimented with zkSync, we are going to try and send payments next payouts cycle through Polygon, but we are not guaranteeing it for this payout cycle. Please expect that your payment might still go through zkSync or layer 1 if we have to fall back to our existing systems. As a result, you must make sure that the wallet address you use is a key you control that can receive funds through any of the specified mechanisms.

To reiterate the above - your public key must be an address you can receive Polygon transfers, zkSync transfers, and layer 1 transfers on. Please make sure this is true before opting in to Polygon, otherwise you may lose funds. Polygon will not work for storage nodes that send their payout directly to an exchange address.

Thank you again to the community for asking for this. We’re excited to introduce this new payment mechanism! After this next payout cycle expect to see additional material and documentation but for now we’re eager for the opinions of our early adopters!

Last, if you participated in our storage node operator survey, thank you! We had literally thousands of responses, and payments to the subset of the first 50 responders who provided valid wallet or node addresses are (update:) now complete.

As always, if you have more questions, please make sure you’ve read through our mega FAQ.

Thanks again everyone!

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Im happy to see that we as a community are heard and thank you for listening and adding polygon im sure this will be a better move for more of us. Will also save storj on all these high fees.

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I want to send to L1 (to ethernum network and convert to real money) a token worth about $19… See how much the fee is:

Do you really want Polygon?

It’s really a black hole…
How will you pay your monthly bill for, say, increased electricity usage?

Well the plan isnt to send back to ETH its to send to exchanges that support polygon and matic. Which I have done and tested and it was pretty cheap to do 0.1cents
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If you wanted to once you get it to an exchange you can trade back to ETH. Going from L2 to L1 Is a bad idea on zksync and polygon there both doing the samething. But polygon is supported on exchanges now and zksync isnt.

Here is all the exchanges that support polygon

Thanks again for the extensive update and good to see a new payout option being added!

How would we know if we were one of the first 50? I finished the survey within 5 minutes of receiving the email, but I didn’t see a transaction for this, nor was it included with the payout for December. It’s of course possible others were even faster, but I would like to be sure if possible.

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Wow, Great News!

20 characters

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For this month I’ve moved my first node over to polygon. But if the tests are successful I’ll certainly be moving all of them.

On the multinode payout page I see this:
Screenshot_2022-01-15_035744

What is the relevance of this number?
Where do I see per month what was in fact paid and what was not paid and therefore undistributed?

You need to check each dashboard to see the exact number. Multidashboard doesnt work

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I did notice only 43 payouts of 15.55689109 STORJ went out. Maybe the remaining 7 were included in the months payouts? But if not, consider this a heads up.

My last Payment was higher than expected. And I did the Survey directly After receiving the Mail.
I think I gut some Storj :wink:
All in one Transaction.

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A few things:

  • The estimated transaction fee listed on Polygon is almost always extremely high. However, the actual transaction fee for L2 → L1 is usually less than $80 USD.
  • The transaction fee is nearly 100% on the L1 side of the blockchain bridge.
  • To transfer from L2 to L1, you need ETH in your L1 wallet in order to complete the transaction, because the transfer is actually Two transactions … one on L2 and one on L1.
  • While the STORJ token contract has been integrated into the Polygon blockchain, there is no guarantee that the Polygon STORJ token will have any value on the Polygon network. It’s possible for the STORJ token on Polygon to be $0.00 if there are no DeFi exchanges set with a trading pair.
  • The Polygon blockchain has recently experienced significant increase in transaction fees as well as significant speed reductions in processing transactions.

Given the above, my personal recommendation is to only accept payment of STORJ on Polygon if you very comfortable in the blockchain/DeFi universe and have enough L1 funds to retrieve your STORJ tokens from Polygon.

However, I’m more than happy to help test payouts on Polygon… so count me in.

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Great news! Will reconfigure all nodes ASAP!

You are correct. Also Polygon ends up in a fee hell

You are so very wrong because exchanges do support Polygon network for a variety of tokens like Polygon’s MATIC, ETH and so on and so forth, which are… Guess what!? Both stakeable and exchange card load capable. So, instead of transferring to L1 when you get paid via Polygon network, simply swap the STORJ for some token, which the exchange accepts via Polygon for a few cents fee and send it to your other token via Polygon network on the exchange, which supports it - fast and secure and again - FOR CENTS. :crazy_face:

Nay. It even supports micro payments of 0.0000000000X of whatever token.

For most purposes… Centralized exchanges are not the same as Decentralized exchanges.

I generally don’t use Centralized exchanges. I haven’t looked in a little while, but the last time I did… there were zero DeFi options for STORJ on Polygon. This is fine… but it would be nice if some large wallets joined in to make giant token pools…

Please tell me all the steps to convert Storj on Polygon to USD Fiat. Every step please plus fees

I like Polygon too… But all blockchains support micropayments.


I’ve set my payment options for polygon first, then zksync… because I’m willing to lose $20 in STORJ to help grow the payout options for SNOs. My hope is that in the next 12 months, the blockchain-o-sphere begins to grow “natural shards” - such as Polygon and other Ethereum chains. But for the tokens to function well, each chain is going to need at least on BIG holder for each token. I think that will take a while.

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With what fees? Insane like ERC-20?

Thanks! Same. It’s very important. :+1:

  • STORJ on Polygon is ERC-20
  • STORJ on Ethereum Mainnet is ERC-20
  • STORJ on any Ethereum network is ERC-20
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