Make first $1 or so paid to the SNO be in ETH and not STORJ

[anon27637763]

@SGC

lol lowest payment i got thus far for this month is 0.17$ and still the fee of 0.33$
going a bit slow this month… but on the upside… the storj token is doing good.

Any given transaction is not necessarily representative of the average transaction cost for distribution of all payments…

The correct comparison to look at is the total outgoing payout for a satellite (aggregate to all node operators) versus the aggregate fees paid for those outgoing payments… and then calculate what it would cost to distribute the same payments to the same number of accounts using traditional payment processing systems such as ACH.

Even if the gas fees are relatively high, the whole payment system is still cheaper to run than ACH.

[Vadim]

I thank thay need to return to 1 payment per sattelite, it will be much cheaper and faster.
And make just Mail senter server that will sent recept for payments, thats all needed.
I am realy not understand why we need payment system like now, it is to expencive.

[SGC]

best answer i’ve heard yet

[SGC]

and there we go…
time to start the debate of how to best fix it…

@john

Due to unusually high Ethereum transaction fees, we’re in the unfortunate situation of having to make a change to the payout methodology we’ve been following for the past months. The change will not affect the amount or timeliness of payments which are due. Normally, we prefer to provide as much notice as possible about any changes to payments, so we can solicit community feedback, but this is an unusual situation.

Our methodology to this point has been to pay one transaction per Node, per Satellite. This results in 48k payouts in the current month. 33k of those transactions are for payouts worth less than $1.
We completed the payout for all transactions worth over $1. For the remaining transactions, we’ll be aggregating all payouts across all Satellites and Storage Nodes so that Storage Node Operators will receive one single payment to their respective payout address.

To be clear, all Storage Node Operator payments will be completed on time this month.

We’ll continue to use this new payout methodology going forward. The Storage Node Operator Dashboard will accurately reflect the payments per Satellite, however the Ethereum blockchain will only reflect the single payment per payout address.

We’re considering a number of ideas and contingencies with payouts in the event transaction costs remain high or continue to increase. We’re investigating some alternatives including setting a minimum transaction amount—either a fixed amount or a ratio of transaction fees where payout amounts below a given threshold would roll forward into subsequent payouts until the threshold has been reached.

Long term, we would like to put Storage Node Operators in control using a withdrawal based system, but there is a substantial amount of work required to make that happen.

We value the members of our Storage Node Operator Community and appreciate your understanding. If you have suggestions or ideas that you think might provide a better solution, please let us know.

As always, we’ll keep the lines of communications open as new developments arise.The most effective way to provide feedback is via this thread, which keeps the conversation open and transparent to everybody. You can also enter suggestions under the “Suggestions and Ideas” category. If you would like to provide confidential feedback, please email ask@storj.io

Thank you.

[Mad_Max]

@BrightSilence

There is no way around paying those fees. They did pay all nodes with the same address in one go before, but when it was automated they switched away from that. Satellites are built to work completely independent from each other, so combining the payouts across satellites would go against that principle.

Its already back “back again” as latest payout (for May, done in June) was combined per payout address. I have got only 6 payments in for May for all 3 nodes was running with same ETH address in settings (one from each satellite, combined overs all nodes). Instead of 18 payments for April and about 15 for March (per each node-satellite pair).

And looks like it will be just one payment next Month combined even more: overs all nodes and all satellites into single transaction?

[Pentium100]

Also, while satellites are “independent”, they all belong to the same company. When there are “really independent” satellites it will be different, but right now they are all the same.

[BrightSilence]

Yes I posted that before this announcement.

Update on June 2020 Payouts

Update: JANUARY 2021 Please visit Minimum Threshold for Storage Node Operator Payouts for current (January 2021) details Original text : Due to unusually high Ethereum transaction fees, we’re in the unfortunate situation of having to make a change to the payout methodology we’ve been following for the past months. The change will not affect the amount or timeliness of payments which are due. Normally, we prefer to provide as much notice as possible about any changes to payments, so we can…

It’s possible for Storjlabs to do this of course, but it won’t work for satellites hosted by others. Whether they are tardigrade partners or independent satellite, they will have to figure out for themselves and unfortunately if every satellite operator is doing things differently, that means we SNOs will need to wade through all that to figure out which payment is which. It’s not ideal, but I don’t see a better solution right now.

[jammerdan]

@BrightSilence

but it won’t work for satellites hosted by others.

Are other operators forced to use Storj token as well? Or can they use a different crypto/token if they want?

[BrightSilence]

They can do whatever they want as long as they can convince SNOs to whitelist them, but I’m pretty sure that tardigrade community satellites would have to adhere to the same payout as Storjlabs operated satellites.

[Pac]

As a side note, considering recent ETH fees, the following suggestion doesn’t necessarily work anymore:

@Pentium100

My suggestion is this - for a new Ethereum address and a new node pay the first $1 (or whatever) earned as ETH and not STORJ

This would require more thinking now
Maybe let SNOs decide whether they prefer being paid in ETH or STORJ.

[SGC]

i think that kind of breaks the ecosystem, or whatever it’s called.
the idea being that SNO’s are paid in Storj which can be sold to companies so they can get a discount using the tokens for Tardigrade Services.

Thus it’s a closed cycle basically…
sadly i don’t have a better solution to the problem.

looks like this might end up being the solution, but not really sure…

Who needs some free initial ETH?

For everyone needing initial ETH in order to access your tokens, you may want to consider the new L2 solution. Transaction costs will be a little higher, but you can pay them with STORJ tokens, so you can avoid having to buy ETH or rely on the kindness of others to get access to your earnings. After having collected enough earnings you could then transfer your earnings to an exchange and get your own ETH if you want to switch back to L1 payouts to save on transaction costs. May be easier to jus…

can’t always expect the solution to look exactly like the feature request suggestions.

L2 Payouts with Zksync

zkSync is exactly that. So yes storj labs is using L2 to batch token transfers and save gas. That point is also fulfilled. Again you described the situation we expect to get with zkSync.