I started a node a few monthes ago and i’m about to get my first payout. I would like to know if I set up correctly my payout wallet.
As I didn’t have a wallet I had put my binance deposit account addr for storj coin (the one concealed in red in picture below), note that i’m not a us resident (i’m in France).
Does using this address will work for the payout and is there any backside (not about that i don’t own the private key, more like big transaction fee on payout) that should me use another address ? (and which one, as an example i have access to token storj on my metamask wallet (on ethereum main network), but to me it look somewhat similar as binance address)
Many thanks for your advise,
Edit : looks like I should have read first : Storage Node Operator Payout Information | Storj Docs
So if I had correctly understood this should works, but fees will be high and I should wait having around $50 (25% used in fees)
I’m currently checking for that zkSync thing.
I do indeed recommend zkSync, but be aware that at the moment you would still have to pay for a withdrawal transaction if you want to later move it to an exchange. This is a little more expensive than a token transaction on ethereum and to compensate Storj pays a 10% bonus on zkSync payouts.
Unfortunately this number has changed to the fees being less than 10%. So you need to have earned well over $100 to see your first payout. That’s quite annoying, but the zkSync option will help.
@Alexey seems the linked docs still say 25%, is that something you could update?
I have confirmed that the payout threshold for L1 is still 25%, it won’t be changed to 10% until after we first announce it beforehand.
My bad, I thought it was live already. Disregard my message then.
I wouldnt use zksync I use polygon and the fees are much less of zksync and you also get paid every month.
Polygon seems not listed in the documentation, do you have any example how to setup polygon payout ? On my metamask I can only see storj on ethereum mainnet network, not on polygon network.
Thanks for the explanation,
I’ve understood that eth2.0 when deployed should decrease network fees, does it apply to storj payout or is it completly unrelated ?
That would apply to all transactions on Ethereum including Storj. But nobody really knows how big that impact will be. I would personally not count on significant drops in cost.
Thanks for the clarification.
binance wallets works fine in my experience.
Please do not call deposits “wallets”. You have no control above private keys from these addresses, so money belongs to the keys owner - i.e. Binance. For them these addresses are wallets.