Gas Fees are a Killer, But a Solution is on the Horizon! Before that, as a Temporary Measure: Min Withdrawal Increased to $2

Gas Fees are a Killer, But a Solution is on the Horizon! Before that, as a Temporary Measure: Min Withdrawal Increased to $2


Hi Publish0x-ers!

We are glad that you're enjoying your experience on Publish0x. Like you, we are committed to Publish0x, but we are struggling with GAS fees. In this large payout that we sent on Monday, the gas fees were MORE than the payout amount.

Edit: In case you'd like to verify this, you know the address of our payout wallet - click here.

This hurts us, and it hurts our community, as we cannot afford to give out as much crypto as we'd like to. We have been seeking for a better solution, and we think we have one. This is a bad news, good news type of scenario:

 

1. On-Chain Withdrawal Changes - Minimum Withdrawal is Now at $2, Temporarily.

For the time being on-chain withdrawals will be limited to once monthly - except AMPL and FARM, which will both be available for withdrawing every other week, but with a higher withdrawal limit of $2.

You can check the current payout schedule here.

 

2. The Good, Long Term Plan: Weekly Payouts, Lower Withdrawal Threshold, and a 10% Bonus on Your First Withdrawal to Our CEX Partner Directly.

We have always recommended self-hosted wallets, and in principal we still do. On the other hand, we do realize that you are hit with gas costs as hard as we are, and so...

The better solution we are now working towards full speed, is a partnership with a major exchange. With this, you will be able to withdraw tokens from Publish0x direct to your wallet address in the exchange.

When this solution is implemented, it means NO gas fees, so we will be able to give higher rewards. It also means that:

  • In the short term, we will give a BONUS of 10% extra on the first withdrawal when this goes live.
  • AND it will also then be possible to do more frequent weekly payouts again. In fact, we might be paying out trusted users multiple times per week.
  • Finally, the withdrawal limits can then be $0.5 in token value, or even lower, when withdrawing your funds directly to an exchange we partner with.

 

Note: The CEX we are in talks with has no KYC before you trade or withdraw a very high amount of crypto.

Further, we will not force anyone to use a CEX for withdrawals. On-Chain withdrawals will still be available to you; we will most likely be sending these out once per month, and the minimum amount one will be able to request for an On-Chain withdrawal will be at least $2 worth of crypto, per token.

 

We will give out more info when we can. Watch this space.

Cheers,

Publish0x Team

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Igor Tomić
Igor Tomić Official Team Member

Publish0x COO. Interested in Cryptos and Blockchain, Travel, Basketball and Hiking.


Publish0x Official Blog
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