Hello everyone,
We want to give you an update on the current situation with storagenode payouts.
Prepayment for August: To avoid leaving operators without any compensation as we progress through the filings, we have made a business decision to prepay for August. We have to ensure that we strictly adhere to the court policies and procedures, we believe it will be satisfactory to the storagenodes. At the end of August, we’ll reconcile these prepayments against actual usage and correct for any over/ or underpayments.
July payout is currently on hold. Due to the legal process of Chapter 11, we are not permitted to pay out storagenodes for the period before July 26, until a decision has been reached by the bankruptcy court. We know this is frustrating, and we’re working to resolve it as quickly as possible, within the regulations of the court process.
Nodes that left the network will need to be excluded, as they are deemed past creditors. This affects only a very small number of nodes. If your node left the network in the past few days, it will not be able to receive a prepayment. The July payout remains part of the pre-petition creditors and can only be released upon instructions of the bankruptcy court.
Dashboard display. Prepayments are a new mechanism for the dashboard, and we’re going to find out how it handles and displays this data. If your numbers look off in the coming weeks, this is likely why.
Next steps. We have a court hearing scheduled for August 25, where we may get instructions about pre July 26 payments, although typically pre-petition payment decisions take quite some time. Therefore, we will continue our prepayment for September onwards, each month, to ensure payments are flowing to active storagenodes. We’ll share an update as soon as we know more.
Thank you for your patience and continued support as we work through this.

