July Payouts for the month of June 2020 are out!

Hello everyone!

Following along with the changes we made last month with the payouts for the month of May (Update on June 2020 Payouts), I wanted to update everyone about how payouts went this time and what we’re considering for the future.

First off, payouts are complete and the data has been imported back into the Satellite. Please make sure to check your SNO dashboard! (Edited to add: There may be up to 12 hour delay on your dashboard information.)

Like we switched to last month, we did a single transaction per wallet, across all Satellites that Storj Labs manages. As I’m sure you can see on the blockchain, we took what would have been 50k transactions (previous months) down to 4558, so, much more efficient blockchain usage.

We still had a few transactions where we spent more on gas than the actual value transmitted, though far less. We are contemplating either making it such that SNOs can trigger withdrawal when they want to (if they pay gas), or perhaps establishing a minimum balance before we automatically disburse. Any more thoughts on this? Lots of great feedback on the previous thread.

We heard the feedback from last month about how we should make it easier to calculate your cost basis for tax purposes, and we are contemplating putting the spot price at the time we did the transaction into the SNO dashboard in addition to the transaction hash. I don’t have an ETA on this yet but does anyone have thoughts on how to make this the most useful?

Anyway, thanks to the SNO community! You’re the backbone this project rests on! We wouldn’t be able to offer our storage product without you!

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You could offer a csv export of the monthly data so everyone has an easy way to get a list for paying taxes.
Otherwise I’d still have to go through each month on the dashboard and write that number down, on each node. Or dig through the database myself which would be a lot faster :smiley:

yesa same thing, i have 22 nodes, it is complecated to read it all manualy, is it posible to get by API?

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Definitely a minimum amount to be paid! It makes absolutely no sense to pay more in gas than what the node made itself!
It´s a huge increase in efficiency and payments and now that the Dashboard is working for monthly payouts we´re in the correct path.
Great job team :wink:

Thanks for the update @jtolio!

Here’s what I would recommend for payouts going forward.

Minimum payout amount
Set a minimum payout amount and by default automatically pay when that amount has been reached. Keep in mind though that just like it’s fair to vet a node to see if it performs well, it’s completely fair for SNO’s to vet Storj Labs to see if they’re true to their word and actually pay out the expected amount. If you set the minimum payout value too high, you might have potential SNOs walking before they got their first payout. You don’t have to convince me any more, but new users have no reason yet to trust you.

Don’t make SNO’s pay transaction fees
Additionally… don’t make the SNO pay the transaction fee. The reason for this is simple. You are running a larger overarching business and can afford to pay fees that wouldn’t always make sense to smaller node operators. And on average, it should still be a small amount to you. But it might not be to someone trying to get paid just a few dollars, especially since they will have to pay the transaction fees for turning that into ETH, BTC or hard cash as well. Setting a minimum payout amount covers you from having to pay way too much for some of the smaller transactions.

Option to hold payout
It would be nice to offer SNOs the option to hold the payout. There’s actually something in it for both sides. Storj Labs doesn’t have to pay transaction fees each month and SNOs don’t have to take on any risk of STORJ value changing over time. A simple option to hold or release would be fine. When payout is later released, it will be included in the payouts for that month.

Itemized pay stub
Many node operators run multiple nodes. And while the dashboard provides some information, it’s not a complete view and doesn’t have all information across all nodes. I suggest sending a full itemized pay stub by email to node operators, listing the periods paid out, the satellites that paid out and all individual nodes. This mail should go out for each unique combination of payout address and email address. So that SNO’s managing multiple nodes on the same payout address but different email addresses get the correct information on the correct email address.

Notification about received payout details on node dashboard
As mentioned previously, the payout information is actually not yet visible on the node dashboards. It would be nice to get a notification when it actually is. Perhaps this could be combined with my previous suggestion and that email could be the signal that the pay stub data is now available on the node dashboard.

Sorry to just dump a list of feature suggestions on you, but I hope some of it is useful for future product development.

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you most likely need to reload the webpage… the storj update button on the dashboard will not reload all the web code in the browser, it just seems to update the graphs maybe… … i think… usually works for me anyways… when something doesn’t work… like if you updated the node and press the storj dashboard update/refresh button, then you will not get the new web dashboard before you press the reload page on the browser…

anyways… long story short… just press the browser reload webpage button :smiley:

not sure if this is the dashboard thats weird … but doesn’t seem to count my stored data… O.o
ill check it again tomorrow, ill just assume that the data is still … processing or whatever

oh nevermind… it just writes 0 … it still gives me about the payout i would expect… most definitely a dashboard thing only…

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I confirm, something is definitely not correct on this month´s payout.
Explanation follows:
I had 7 nodes, on which one of them i GE´ed on which the held amount was 126$.
I got 116.36$ total payment

So, basically, this doesn´t even pay the held amount returned, not to mention I have 3 HP Microservers full (11TB) for over 1 and a half month which should pay 1.5$/TB/month totaling 16.5$ just for occupied storage, excluding traffic pattern.
I´m opening a ticket with support guys as the June payout dashboard shows no data!

That’s because payout is not complete yet and satellites haven’t reported the data. Just wait until there is an announcement that payments are done for June and your dasboard shows data. Then you can open a ticket…

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Yeah this is the June thread not July

@naxbc
the standard for payout is within the first two weeks of the new month i believe…

so no need to get to eager yet, it maybe up to 6 days more without them even needing to notify us… and then on top of that, there was trouble last payout… so it’s not impossible that it could be delayed … not that i think it will… just saying it might…

now we better be quite on here, so that this thread can fade back into the darkness of time… and not confuse to many others…

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Are you sure that your node was at least 6months on all satellites?
Since new satellites have been added in the past few months, they have held amount but they may not be 6 months.

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I know the GE´ed node was my oldest one, and it only succeeded on 4 satellites; that´s the receipts I got from it at least.
But, even so, I think some payment is missing. We´ll see what support says.
Thank you for your point of view.

I believe GE are paid differently then normal payments.

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How old are these nodes?

Is your node still working with rest of the 2 satellites ?

Don’t know for sure, but I can tell that the newest one is 4 months old.

No, the node is disconnected and repurposed.

are you aware that until the 10th month you don’t get the full payout?