Min payout this month?
i think they set it at 25% fees max, so 30$
ERC20 is around 10$ now… so like 30$ minimum payout… if the fees stay in this range.
but i think they will, seems to have been significantly lower in the last couple of weeks and storjlabs does try to send when there is a dip in the cost of fees…
Hopefully they WRAP there Token on the Tezos blockchain.
There is a mechanism to do that
It fluctuates quite a lot even within the same day, so we really won’t know until they start their process and let us know.
Saying it over and over again won’t change the answer. This won’t happen, you have the (better) option of getting paid through zkSync if you want it.
Assuming a $10 fee for ERC20 tokens transactions, that would actually mean a minimum threshold of $40 for payments.
but your payment would only be the 75% of the full 40$…
the rest is the 25% max fee storjlabs allows when they pay the fee.
its a ratio basically… because the 25% is 1/3 of the 75%, then we can simply multiply the
ERC20 fee by 3 to get the minimum SNO payout at a certain fee.
so 5$ fees would be 15$ minimum payout and a total removed from storjlab’s wallet of 20$
10 would be 30 minimum SNO payout
15 would be 45 minimum SNO payout
so yeah there goes a minimum of 40$ out from the Storjlabs wallet at a fee of 10$
Unless I’m mistaking that’s not the case. StorjLabs do pay for the fees on your behalf, in order to give you the full amount.
So you would receive the $40 they owe you, but they would have paid $50 (40+10) in total to pay for the transaction fees.
My understanding is that you will always receive what they owe you in total. But in order to limit the ratio fee/amount, they wait until the fees are less or equal to 25% of the amount they owe you. Hence, if fees were to be at $15 for this month (as an example), multiply this by 4 and you get the minimum threshold which would be $60.
If you reached this threshold, StorjLabs would pay you this exact amount (but they would have paid $15 more in fees).
If someone corrects you, just check before you byte down. @Pac is right, just so you know.
but multiplying by 4 would make the minimum fee 20%
it’s basic math…
of the whole anyways…
i guess its just a matter of which way one looks at it from…
maybe you are right i duno… i just assumed 25% was from storjlabs perspective. since the number to us is arbitrary.
maybe using % for defining a fee wasn’t the best choice.
Dude… stop arguing, just go check previous communications from Storj Labs. 25% of payout, not of total cost. It’s not that complicated.
Edit: Didn’t follow my own advice to stop arguing. I removed my further comments as arguing with someone who doesn’t want to admit when they are wrong is useless and wastes everybodies time. My apologies for my side in that.
was just calculating from the total transfer… my bad…
but the logic gets a bit messed up tho…
i mean … makes perfectly good sense to do it like this… because its easier for SNO’s
but when Storjlabs then say 25% they mean 20% from their view, but they call it 25% so that from SNO’s view it’s correct when they calculate it…
so really Storjlabs is essentially lying when they say 25% to make it simpler for SNO’s
i didn’t think about that they would do that… just remembered 25%
Why look something up before answering… Could be less work and less discussions… It’s just written in almost every payout announcement.
Took me 20 seconds to find that quote but I guess arguing is easier than checking things…
not like anyone could give an accurate number no matter what…
my 30$ wrong math could still be right, avg gas fees are at 7.5$ atm so 30$ minimum payout
even a broken clock is right twice a day… lol
but to them thats 20% of the expense
would still be 20% on their books.