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

Don’t think these are new, the new thing is mostly STORJ for gas payments.

I am not aware of any Era ↔ Lite STORJ bridges. Orbiter and Layerswap can bridge ETH or USDC between them for around 2 USD fixed fee. So if you wanted to move STORJ from Lite to Era, sell for USDC on ZigZag then bridge to Era using one of them.

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Regardless, storj can be moved, which is good. I just need to get storj to lite to begin with. Looks like its Era → Main → Lite → Zigzag → Era. Everyone should put their hodled storj to the syncswap pool.

If anyone is looking for details I made a short description about moving funds from Lite to Era and also to fiat (without KYC).

w8, what!? i can stake my ERA tokens?
Got some tutorial on how to, to paste?

Out of the curiosity, why do you want to go from Era back to Lite? Cant quite follow this part, thus the question.

SyncSwap has a liquidity pool for storj: SyncSwap
If enough people put their storj there we can exchange it on ERA. You cant “stake” it, but you get paid exchange fees. Other ones have staking tho.
Heres the post link: Swap between STORJ and ETH on zkSync Era via SyncSwap

Zigzag has the liquidity to exchange storj without losing a ton of the value, but ERA currently doesnt (afaik), so if i want my storj to be eth, I have to move it out of ERA.

Aha, ok, thanks for the info, I was not aware that there are problems associated with it on Era. I am leaving this forum so I would prefer not to get into extended discussions, also I dont have detailed compassion with other exchanges, but what I noticed on ZigZag over the last couple of months is that the market making is indeed there but the spread widened significantly.

Yeah, and SyncSwap, which has a Storj liquidity pool, only has $140, so you cant really exchange real amounts without losing value.

I think it would be cheaper to use the txSync bridge and send it to a CEX. Bridging fee is quite high and the spread on ZigZag is pretty poor.

How big does a pool have to be to allow decent conversion rates?

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I asked that in another thread and didnt get a response. I guess it depends on how much you want to exchange.

Oh, I can guess it depends on the size of transaction. The question is, to have a decent exchange rate for a transaction of value V, do you need 10×V, 100×V, or maybe even more in the pool?

Well, the USDC-ETH pool has about 30mil USD or 8444 ETH in liquidity, and trading 8444 ETH has 64% slippage, 844.4 is 15%, 84.44 is 1.76%, 8.444 is .17%. So 1000 storj would allow a comfy transfer of 1 storj. But also, the larger the pool, the more it tracks the broader price of the token.

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well i can provide some 800 STORJ to some pool, but show me the one, we want to use?

maybe we should organize in dedicated topic, and specify pools we want to join, and publish full instruction what to do, coz i saw that pool on synswap, not sure anyone needs it, because it only can swap,

  • STORJ sent from zksync Era IF one got ETH to pay fee,
  • STORJ sent from zksync Lite, but that gonna be out of use
    because STORJ INC. is sunseting Lite, and only ERA and L1 will be in use.

So i guess ppl need solution to swap STORJ from zksync ERA, fee in STORJ tokens, and that only is at txsync.io but they don’t have POOL to fuel, sooo i dont know what pool has sense.
Right now, im “stacking” all my STORJ on my ERA, as i keep receiving them :man_shrugging:

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Swap between STORJ and ETH on zkSync Era via SyncSwap This is the post by the person who made the liquidity pool. Ive held $300 worth in there for a bit, but I dont guarantee anything in it. However, theres a new type of pool, and im not sure if that would be a better choice. @GollyTicker Do you know if it would be worth making a new AQUA pool?

So, if we wanted 1% of Storj revenue across all node operators be replaced this way, even if the other 99% put all their revenue there, it’s still only enough for ~2% of slippage. I hoped this mechanism is more efficient.

I assume that the pool needs to have an equivalent amount of the complementary currency also put by someone?

We’re talking about tens of thousands in USD that would need to sit in a single pool. With the volatility of Storj token value, might be a bit troublesome to attract investors.

I think I’m still confused by the thread’s title. Is this feature of txFusion allowing any transactions on zkSync Era have gas fees paid in Storj token, or just the specific transaction of withdrawing Storj tokens from zkSync Era into L1 through txBridge?

Using txSync, any gas fee on L2 can be paid using STORJ tokens, which includes both transfer and withdraw.

Note that you will still need to pay the L1 gas fee to claim STORJ tokens on L1 after the withdrawal.

Ok, but the example given by txFusion only shows their specific UI for withdrawal. Does their paymaster somehow integrate with wallets to offer fee payment for any transaction? Like, maybe using their paymaster to pay the fees of using syncswap?