We appreciate all the feedback we’ve received and the patience. We read and appreciate the suggestions and do our best to consider the community point of view in our plans. We want to be sure to communicate as close to real time right now as possible so you know that we are treating the impact the current state of high ETH fees on payouts with the high priority it requires.
The main questions we’re getting are related to the timing of when we will have an L2 solution in place, what that solution will entail, and the actual impact on the SNO community of that solution.
The most important part of rolling out the L2 payout solution is that it’s fully baked. The whole experience has to be good, easy to understand, and simple to execute. And it has to be a significant improvement over the current state.
The most significant area of progress we have is with the L2 payout solution. We’ve continued to work with Matter Labs zkSync solution and we’ve been able to confirm some additional details concerning the actual user experience:
- zkSync will support both payment of payout transaction fees and exit transaction fees in STORJ as opposed to just ETH. Payment of STORJ is not enabled on the zkSync production network at this time, but we expect that to be available when we begin payouts via zkSync. This is an external dependency on Matter Labs to enable this feature. *
- zkSync supports self-service wallet registration and supports withdrawals from wallets where users control the private keys.
- Users should avoid using exchange addresses or wallets where the user does not control the private keys. It is possible to withdraw from this type of account, but it will be a more expensive emergency withdrawal. Emergency withdrawals require submission of a web form today, but an automated solution is in development. Again, this is an option that is only for emergencies. *
- We will pay 100% of any payout amount owed to SNOs who opt into the zkSync solutions. For the foreseeable future, we’ll continue to have the minimum payout threshold in place for SNOs who do not use zkSync.
- We will provide an incentive to balance the cost impact of the rollout to SNOs
- We will have documentation, including an FAQ prior to launch
In addition, we’re still doing research on whether some of the other possibilities are feasible, including:
- More frequent payouts to wallets that opt in to ZkSync
- Creating an optimal user experience for the opt-in, wallet registration and withdrawal processes based on the zkSync API
Separately, we hear that you want more feedback and more frequent communication, and we’re making an effort to increase the amount of information we’re sharing on this topic and also on some significant upcoming developments with our product and marketing initiatives.
(*) Updated 2/16/21 to reflect the current state of the availability of payment of transaction fees in STORJ on the zkSync production service and clarify that the use of the withdrawal process with wallets for which a user does not control the private keys is for emergencies and not as a feature for use with exchange addresses/