STORJ can now be used for fee payment on zkSync Era!

Huge thanks to our friends at txFusion.io for getting this going.

Read more here: https://twitter.com/txSync_io/status/1747971420234158517

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@jtolio This is great, a huge step forward for making all payouts zksync payouts!

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Is there a howto somewhere about how to swap tokens on zkSync Era? Without having any tokens on Era I can’t even try txSync to see what the fees are?

When I look at syncswap.xyz or Bitrefill I get a very bad exchange rate of ~0.4 USD.

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If it’s like this everywhere then it renders zkSync Era completely useless.

Is there a DEX like zigzag which works with Era?

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Google suggests How to Use SyncSwap on zkSync Era? – imToken - Ethereum Wallet, Bitcoin Wallet - Help Center ? Could SyncSwap work?

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Options on zkSync Era right now are pretty poor. The cheapest seems to be using the txSync bridge to withdraw STORJ to an L1 address like a CEX, selling there, and then withdrawing to an L2 if needed.

Right now due to high gas fees it is quoting me 8 USD worth of STORJ or 7 USD worth of ETH for the withdrawal. I’m hoping the Dencun upgrade next week will reduce this.

I’m not sure why payouts on Polygon were phased out, the support and ecosystem there seems much richer than either of the zkSync chains.

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In theory yes and if you read my post again I already found it. But did you see my screenshot with the exchange rate of 0.4? That’s half the current exchange rate everywhere else. :dizzy_face:

Secondly, in the link you postetd it says

Entering SyncSwap

  1. Open the zkSync Era wallet, click “DApp” to find SyncSwap, and open it.

What is this “zkSyncEra wallet”? There is no such thing in the Playstore and I’m not installing some obscure app and put my seed into it.

Please keep zkSync lite until zkSync Era is usable. As it looks right now I’d rather switch back to L1 than using Era. And that will cost Storj Inc. much more in fees.

Hmm, okay, thank you for this feedback. I think this thread has been eye opening in that the ecosystem still has some maturing to do.

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as always, somebody has to provide liquidity. this eighter takes big amounts of storj or more smaller ones over time.

you can connect your wallet to the chain, if wallet supports it, or try metamask.

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lite is no longer supported from programmers, everybody got advised to move the assets away.

Is the ZigZag exchange ever going to listen?

I think any wallet, which supports zkSync Era. Truly support, not like MEW :slightly_frowning_face: , where they unable to detect STORJ tokens and cannot add them manually to the wallet. You can switch to zkSync Era,… but you cannot add a token there, because: web wallet doesn’t support zkSync Era, and the mobile wallet doesn’t support to add a token which they are not support yet on zkSync Era. So frustrating…

Yes, keep it. I testes Era also this month but, i have no benefit for using it, as i would have to withdraw to L1 anyway to Swap it.

EDIT: Ah just read that they do not want to support it anyomer, bummer. Then it seem i stick to L1 until there is something in place for era like ZigZag Exchange.

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era gets you 3% extra (afir), when you wait long enough, it accumulates to the withdrawl amount, or more. I think that’s a benefit. why not waiting with the tokens already on era?

Well what i did on light was to exchange the STORJ Tokens to a Stable Coin on ZigZag as soon as i got the payment, and sent those to L1 when the Gas Fees were low. Now on Era i cannot do that.

I do that for the Reason that i want to have the Revenue i get of Storj without depending on the Marketfluctuations, as i do not want todo the “Gambling”.

And to achieve that on Era i would have to send those to L1 independent on the Fees todo the Swap/Trade, where i loose the benefit of those 3% in the worst case.

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Yeah: it seems that extra 3% inevitably gets eaten in fees or spread. Sending direct to a L1 exchange address to immediately sell is sounding pretty good these days.

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With the current gas fees ERC20 transfer on L1 is about 3x more than L2->L1 on Era. Bridging should go down with the hardfork this week.

Or are people just using CEX address for payout address?

Its not advised, because there is a rule for crypto that says:
not your keys, not your crypto.

Its as to say: put my paycheck in the wallet of somone else.

Even i trust my cex with a 4 digit number. As cold storage for low investments.

But the storj and the valuable stuff goes over era to my private wallet. Despite its only a 2 digit payout.

In short: do as you like it.
(Can’t remember summoning the rabbit)

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I disagree with this cliche.

It’s like saying that unless you are owner of a bank, money that you keep on your account is not your money, and it’s best not to keep money in the bank, but sow bills into mattress.

And yes, I now use non-custodial wallet for storj deposits on coinbase. They are the exchange. They prepare tax statements. They are doing all the work. I’m just getting paid.

Why should I become my own exchange or my own bank? It makes no sense.

Just like with banks, don’t pick random hole in the wall operation, go with one of the major providers. Both exchanges and banks can collapse. Paying extra fees to mess with custodial wallet is not worth the risk.

I did both ways, and the busy work managing my own custodial wallet is just not worth it.

I’m with you. Not to push a particular vendor: but if you use something like a Crypto.com Storj address then you get your payout… make a couple clicks to sell-to-fiat… and make a couple more clicks to load it into one of their Visa Debit cards. So 5 minutes after getting the coins you can be spending the money anywhere Visa is accepted.

I don’t care if I eat a bit of spread. Before the zkSync folks even figure out how to get their extra 3% back to L1… I’ve used my coins to put gas in my car :wink: :racing_car:

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