I have a few questions about the advantage of using zkSync. I don’t have a deep understanding of cryptocurrencies and tokens especially.
Why would I choose to receive my Storj tokens with this zkSync method? As far as I understand, the transaction fees will be lower, but can I actually transfer my tokens somewhere and sell them (exchange into EUR/USD) or will I need to convert them to the ETH chain for that anyway and pay the same fees that I need to pay if I receive payout on the L1 Chain directly?
ETH fees seem absurdly high right now, am I correct that to withdraw any funds into fiat currency I would need to pay ETH fees at least twice (Storj to my wallet, then my wallet to an exchange) plus pay some fee to convert the tokens into EUR?
Currently the transaction fees seem to be somewhere around 4€ per transaction, does that mean it would cost me around 10€ to convert Storj into EUR?
You can swap into ETH. We are missing an option to convert the ETH into EUR/USD. Sooner or later someone will make that possible.
You can do that in one transaction. If you take the route over your personal wallet it should be an even trade because you can also save the transaction fee for the otherwise nessesary ETH deposit. Ofc it would still be way more expensive than staying inside the zkSync ecosystem.
Because you get a 10% bonus on your payout
Thank you for your explanation, but I am not entirely sure I fully understand how to exchange Storj for USD when using zkSync yet. I have to withdraw the Storj tokens to L1 ETH mainnet, right? And for that I have to pay a fee? And for this fee, I need to already have ETH because the fee is paid in ETH?
So I need to buy ETH somewhere to be able to cash out Storj tokens, and all in all, I will probably pay somewhere around 20 USD to be able to cash out any money I made by renting out my hard drive (some 5 bucks gas fees for the withdrawal to ETH L1, some bucks to buy ETH on an exchange, some bucks to transfer ETH to my wallet to cover the fees, etc.)?
TL;DR: Can someone give me an estimate how much it would cost me (in USD) to withdraw the money I earned by renting out my hard drive?
To withdraw from zkSync to L1 you need to pay fee. It can be paid in STORJ tokens or any other tokens which you also have on that address in zkSync, include ETH. These tokens should be on zkSync. For the storage node operator the easiest way is to choose STORJ tokens to pay fee.
If the destination L1 address (it could be any) is a deposit address of the exchange, you will get STORJ tokens there. Make sure that this deposit address is suitable for STORJ tokens (the centralized exchanges have a separate deposit address for each token/coin).
Then you can exchange STORJ tokens to what is you like - to ETH, BTC, USDT, or maybe even fiat (it’s possible for a few currencies on some exchanges).
We also expect to have exchanges on zkSync or using the zkSync to accept deposits.
I just transferred out July 2022 payout from zksync to mainnet.
Why am I charged double the cost of a normal erc mainnet transaction and why is it so slow?
Just complaining really
The transaction has a higher gas usage than a normal erc20 transaction.
zkSync creates one L1 block every few hours.