Super high gas price

Node Operators
1

At this moment ETH gas price is over 55$, basically storj will pay a couple of times more for gas then the amount people made last month.

Is this ok? Is another way for storj to pay us?

2

Where do you see gas prices being 55 dollars?

1 Like
3

Gas price should be under 150 gwei and there by less than $4- where are you seeing such high pricing?

4

Sorry :slight_smile: i misunderstood something in myetherwallet, i tried swapping some storj to etherium and it told me the fee is: 55$

Screenshot_20210107_025230_com.myetherwallet.mewwallet~2
Screenshot_20210107_025230_com.myetherwallet.mewwallet~21080×1284 84.5 KB

5

This is what I was able to find on changely (not endorsing them, just reference):

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6

When trying to exchange with Atomic Wallet it tells me that the network fee is 0.0067ETH or $7.9 for 380 STORJ… So that is rather high… 380 STORJ is 0.1ETH which is $120 so the network fee is over 6% in my case…

7

That always depends on the time and network load. I exchanged some Storj for BTC last night and the price has fluctuated a lot the whole time. In between it was 30$ less. I paid just under 4$ for fees yesterday. Now I would pay almost 12$ for the same.
I use exodus. There the fees adjust every minute.

8

Look at this transaction : https://etherscan.io/tx/0x200b8d6434add072ce19d849f4c3699fd09f1ccf1a105d3f129f8a8a61b8174f
Yes, that’s me paying $80…whoops!

9

Ouch that is very unfortunate howd you manage that?

10

Creating a token called BadgerStork in metamask and then clicking confirm without checking.
On the positive side, I am now a millionaire (in BadgerStork erc20 tokens)

3 Likes
11

thanks for the post @goldyka
you may be interested in reading this thread which describes the company response to sudden high prices in ETH,and how we are handling payouts. thank you!
Minimum Threshold for Storage Node Operator Payouts

12

When is the STORJ token gonna reach such high values?
Can’t wait :sweat_smile:

13

Jees!
Transaction Fee: 005858556 Ether ($7.07)

14

One potential solution could be for Storj to explore alternative payment methods or networks that offer lower transaction fees.

2 Likes
15

Recently the L1 gas fees have been low enough so that the minimum required to payout was ~$20.

That being said you can opt-in to receive STORJ payments on L2 via zkSync Era.

1 Like
16

It could offer the choice to retain whatever amount and only payout whenever you choose, calculating the fee in realtime.
It would be nice also to cancel out any cost for customers paying their storage on storj with storj (as I do!).
As I pay more for the storage that I occupy than for the storage I rent, my transaction fees would be 0, because there would be no transaction except an internal compensation within storj.

1 Like
17

You can already specify your Storj account´s deposit address as your node payout address, and thus avoid transaction fees and get the 10% bonus for using STORJ token as your payment method.

2 Likes
18

Thanks! But how do storj tokens reach my account wallet? Isn’t this a transaction?

19

It is a transaction just like all the other payout transaction to Storage Supplier wallets. It will be sent along with all other payouts, according to the payout preference you specified (Layer 1 or via zkSync Era)

1 Like
20

Isn’t this a transaction with fees?
Amounts could be held and detracted directly from within the storj company, without any transaction and without any blockchain, using an internal accounting system. Actual blockchain transactions should happen only when the internal accounting value needs to be converted and transferred to an actual blockchain wallet.