Minimum Threshold for Storage Node Operator Payouts

[jammerdan]

There is always the c option: Implement a parallel solution or switch to a solution using a cutting-edge chain, which has built full trust.

[CryptoPumpkin]

Thing is, no cutting edge ever has a full trust. Think of it as a late stage beta.

[jammerdan]

Ok, I agree. Then use something that just has proven it works and transaction costs are magnitudes lower.

[jeremyfritzen]

Hi!

Just some questions about the threshold:

1. I understand that the threshold is for each node, even we have several nodes using the same Ethereum wallet.
   Let say that the average transaction fee is about 1.25$ and my 3 nodes made 4.95$, I won’t get paid this month (the total earned amount is 14.85$).
   => Is that correct?
   => If so, i think it would be fairer to consider the total earned amount for a given address (and not a node) for 2 main reasons:
   • The transaction costs should be the same for Storj Labs since only 1 payment is done.
   • If my node gets DQed the following month, I will lose my previous payout while my node was up and running and doing a good job for that month… Very unfair for Storage nodes operators…
2. I understand that if my payout is postponed to the next month (because my earnings don’t reach the threshold), the amount of STORJ I will receive will be based on the STORJ price (in USD) at the time of the actual payout.
   Let say I should have earned 4$ in December. At that time, 1 STORJ=0.3$.
   1 month later, let say I earned 4$ for January. So I can get paid for January and December. At that time, 1 STORJ = 0.6$.
   Will I receive 20 STORJ (4$ / 0,3$ + 4$ / 0,6$ = 20 STORJ)?
   Or will I receive 13,33 STORJ (8$ / 0,6 = 13,33 STORJ)?
   => I think it is the second answer (13,33 STORJ). Could you confirm?

Thanks for your insights!

[kevink]

@jeremyfritzen

I understand that the threshold is for each node, even we have several nodes using the same Ethereum wallet.

I think it is per address. otherwise I would have only gotten the payment for my biggest node.

[jeremyfritzen]

Thanks.
I should have earned ~ 12 dollars for December.
At the current gas price (149 gwei), gas fees are still below 25% of the payout. So I don’t understand why I didn’t receive anything

[Alexey]

@jeremyfritzen

I understand that the threshold is for each node,

No, for the wallet address. Accordingly ToS you must use the same wallet for all your nodes.

@jeremyfritzen

I won’t get paid this month (the total earned amount is 14.85$).
=> Is that correct?

Who knows? What fee would be in the first two weeks of February?

If you mean for December 2020, then payout has been completed:

January 5, 2020: All monthly SNO payouts for December are complete

December payouts are now complete Hello! All payouts are sent. One payout has been sent per satellite to each payout address. (For those folks who are new to the process, our payouts occurs within the first half of every month. So while the payment period is always consistent – first half of the month – the specific date within that period may ‘float’ from month-to-month. ) If you have feedback or questions about your specific payout, contact support@storj.io As always, we very much value & a…

@jeremyfritzen

If my node gets DQed the following month, I will lose my previous payout while my node was up and running and doing a good job for that month… Very unfair for Storage nodes operators…

You will receive a pending payout anyway. You will lose payout for the month when DQ is happened (and all sequent months too obviously).

@jeremyfritzen

Or will I receive 13,33 STORJ (8$ / 0,6 = 13,33 STORJ)?

That’s right.
If you would opt-in for the

L2 Payouts with Zksync

In response to the feedback we’ve received about SNO payments (particularly in light of recent ETH volatility): We would like to thank you for always voicing your thoughts and feedback. We are fortunate to have a community of clearheaded, solutions-oriented folks who help us work through these issues. You help us make the system better when you point out flaws, and you frequently help us come up with novel solutions that are better because of your participation. We appreciate you greatly. We …

Then you can withdraw your tokens when it’s convenience for you, not when we send a payout.

[jeremyfritzen]

Thank you @Alexey

I’m sorry but I still don’t understand why I didn’t receive my December payout.

• all my nodes have the same address since more than a year
• after checking the SNO dashboard, it seems that I should have received 12 dollars.

With current gas prices, gas price should be lower than 25% of 12 dollars.

So can you explain me why I didn’t receive my December payout?

[deathlessdd]

Its because the system checked every 12 hours and the fees were over 8 dollars for most of it sometimes hit around 24 dollars. I myself did not receive either and I was around 40 dollars this month.

[jeremyfritzen]

OK thank you. It’s clear.

By the way, is there a way in the SNO Dashboard to see the actual paid amount (meaning that Storj Labs did pay the SNO and sent STORJ tokens to him)?

[deathlessdd]

Yeah you can check on https://etherscan.io/token/0xB64ef51C888972c908CFacf59B47C1AfBC0Ab8aC?a=0x303edcd8dbe1607fe512d45cc15d3e41fa4db44b
Where all the payments went though.

[jeremyfritzen]

Sure but it would be very convenient if the dashboard would display:

• monthly raw earnings: already done
• monthly paid amount (raw earnings - held amount) : already done
• monthly payout: may be different than the paid amount if the threshold has not been reached or if it includes previous payouts (if the previous have not been paid because of threshold)

[deathlessdd]

This would require the dashboard to be updated, and it would have to pull data from the price of ETH and price of USD check your Eth address, and then compare it, I don’t expect this to happen anytime soon.

[jeremyfritzen]

Actually, it would be simpler than that.
The satellite calculate the amount each SNO will be paid. So they should know if they have been paid this month or not.

[vohzd]

Thank you for clarifying this - I had been wondering where Decembers had been.

I’ve also crossposted this to /r/storj as I use reddit as the first port of call.

Cheers!

[kalloritis]

I mean for my payment of over $32 had a $4.45 gas fee (99 gwei@$1,225.50, 36,508 gas used). I just looked today and it’s down to 50-56 gwei (30s est) and $1,228.58 ETH value so that means you might be able to get away with super cheap transactions right now… (56 gwei & 37000 gas used) = 0.002072 * $1228.58/ETH = $2.55 fee.

[Toyoo]

@kalloritis

I just looked today and it’s down to 50-56 gwei (30s est) and $1,228.58 ETH value so that means you might be able to get away with super cheap transactions right now… (56 gwei & 37000 gas used) = 0.002072 * $1228.58/ETH = $2.55 fee.

Yeah, that’s why I suggested above to simply try sending payments more often. If in the first week of a month transfers cost a lot, maybe in the second week they will be cheaper. If not in the second, then maybe in the third, etc.

[nerdatwork]

Just a thought, why not send payments whenever gas fee is low in that month rather than restricting to first 2 weeks of the month.

[dominik]

The problem about this is, at what point are we talking about a low gas fee. I could reach a small gas fee in the first week of the month. But maybe the third week the gas fee is half of the one in the first week…

[guarez]

Hello, is there any summary for this topic? I would like to know for example

• What will be the minimum amount for the storj to send?
  -Is it possible to “see” somewhere how much I have accumulated?

Thank you!