Update for August Storage Node Operator Payouts
Hey Storage Node Operators! We’re always seeking to optimize the SNO payout process. Our goal is to balance the speed and transparency of paying SNOs against the complexity and cost of doing payments at scale on the Ethereum network. In July we adjusted our payout process by combining payments to the same address across satellites into a single Ethereum transaction.
Since Ethereum transaction fees have continued to rise, we are considering making another adjustment to the payout process. For August payouts, we are considering introducing a minimum payout amount. This means we would hold your payout until you meet the minimum payout threshold. For example, if your node earned $2 USD in August but the minimum payout threshold is $5 dollars, we would hold the $2 USD until September payouts. For September, if your node earned $3 USD then you would be paid $5 USD total for your August/ September earnings. If we introduce this change for the August payouts, the minimum payout threshold will be $10 USD.
This change would drastically reduce the number of transactions we have to make for each payout cycle. If you are running multiple nodes, please make sure you are using the same wallet address on all of them, so your chances of meeting the minimum payout are higher and we can reduce the number of transactions we have to make each month. The payouts that meet the minimum payout threshold will be completed in accordance with the Storage Node Operator Terms and Conditions.
We’ll be continuing to provide updates as we finalize our plans. Once again, thank you for your continued support!