November 14, 2021: Payouts for the month of October complete PLUS another payouts plan update

Hello! November payouts for October are complete.

Last month, we said we were going to be starting a bonus program for zkSync transactions where we included an additional 10% to incentivize zkSync adoption and address concerns related to transaction costs. This month, we did that! If you opted into zkSync, we included a 10% bonus.

Last month, we also proposed changing the minimum payment threshold to be 10% instead of 25% to reduce our impact due to high transaction costs. We got a lot of feedback about this and ultimately were persuaded that this change requires better communication with SNOs (not just on the forum). We are still interested in making this change, but only after we’ve given better notice and consider any feedback we receive.

As a result, this month the payment threshold remained at 25%. If you did not opt into zkSync, you got paid if you earned enough STORJ such that transaction fees weren’t more than 25% of what you earned.

Simultaneously, we’re doing everything we can to think creatively about how to improve the payment experience and lower overall costs, so the payment threshold affects fewer people. For instance, this month, we implemented EIP-1559 transactions, and we are next investigating multisend batch contracts. We’re also continuing to pay attention to other options (wrapped tokens and so on; we’ve been pursuing wrapped tokens for some time now).

We reread the last payout proposal megathread in its entirety, and we’re listening and hearing you. We’ve written up an FAQ to try and answer many of the recurring questions that come up often, and we’re trying to take your advice to heart, hopefully you can see above.

You perhaps saw that exchanges are starting to list support for zkSync, which is great and what we’ve been hoping would come. We’re excited to see OKEx do this.

Anyway, this month, we paid 650 unique wallet addresses on layer 1. While we’re still getting the hang of our new EIP-1559 supporting infrastructure, all of these wallet addresses earned enough that the target payment fee was 1/4th of the payout amount or less, though we did pay some with some higher fees, and we do still intend to drop this target to 10%. There is no specific minimum payout threshold dollar amount, but it was roughly around $52

We paid 1043 unique wallet addresses through zkSync. Once again, we did not enforce minimum payment fees here as an incentive. Across both layers, there were 1693 unique wallet addresses.

Thanks again for everyone’s feedback. Please check out our FAQ and let us know what you think.

10 Likes

Up from 915 last month. Not bad, but I think that kind of confirms what you mentioned about communicating these changes more broadly. Even though, I’m one of the ones who made the switch, I think not shifting the threshold was the right move for now.

Anyway, thanks for the update and good to see more attention being paid to the payout issues. Looking forward to more to come.

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Are all payments indeed complete? My dashboard still show Sept instead of Oct, and I was expecting ~$60 between held amount return and 3 payouts. There’s no change in the undistributed payout or any other payment related data field.

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Also, it was never confirmed, that the extra 10% would actually be paid this month already.

True, well we got the best of both worlds with the bonus going into effect but the threshold shift not yet.

I have the same issue as oc149, dashboard still shows Sept nothing for Oct and no change in undistributed payout or any payment.

It can take some time between payouts being done and satellites reporting back payout info to your nodes. Give it a few more days.

3 Likes

The unpaid amount just updated. But the release of 50% of the held amount that I was expecting didn’t happen, despite the fact I’m 16 months in according to the dashboard, so I didn’t make the threshold.

That’s normal. Your node started partway into month one, which means it takes partway into month 16 for your node to be more than 15 months old. You’ll get the 50% with the payout for month 16, which happens in the first half of month 17.

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Got it. Thanks for the explanation.

Sorry I miss out on the payout proposal megathread, but has anyone suggested to Storj on bidding for a slot at the Polkadot Parachain Auctions?

We could explore on the possibilities of paying out to SNOs via the Polkadot ecosystem if bid is successful. I’m pretty sure the fees are much lower and it would be a win win situation for all of us.

You need an API/bridge and listed STORJ there, so the adding that would be possible.
We do not plan to switch blockchain.
We do not plan to implement functions on foreign blockchains. If they have them and we can use them (like ready bridge/API and wrapped STORJ) - then it’s possible.

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I am surprised that there are so few operators. I imagined that with 12000, communications with snos would be infeasible but with so few surely you can take a more active/positive position regarding disqualification?
Can I ask, how many nodes get disqualified each day? Is it possible for pastoral care?

https://storjstats.info/d/storj/storj-network-statistics?orgId=1&viewPanel=35

Number of operators not always match the number of wallets, even if it’s required by Node Operator Terms & Conditions

system has 12000 nodes but, not node operators, for example only i have 40+ separate nodes, and lot of operators have more than 1 node.

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I probably shouldn’t have used the term “pastoral”
I meant take good care of your SNOs above and beyond your responsibility

Hey, at least it wasn’t “palliative” :slight_smile:

I just noticed that while my node has received paystub info for October now, it is still missing the payout info that includes the receipt. So the dashboard still doesn’t show a payout link.

@Alexey, @jtolio : The link is missing on all my nodes, did something go wrong with this?

I was trying to build in support for the 10% zkSync bonus in the earnings calculator, but I wanted to use the receipt which includes an indication that zkSync was used for payout. I’ve made the required changes, but would like to test with actual data before publishing the new version.

I have it. Could you please restart the service/container?

That seems to have done the trick, thanks @Alexey !

I haven’t seen this happen before. Wonder what might have caused this. But all good and I’ll get back to the earnings calculator update soon.

Edit: It looks like the receipt amount also doesn’t include the zksync bonus. Which is understandable with a new change like this. Is there a plan to include this info somewhere on the dashboard / in the databases and API?