We've completed payouts for the last two weeks, and we've spent a lot on gas fees! Should we continue to pay this much for gas in the future, these fees would be a big burden on our budget.
A week ago I've written about issues we're facing due to high ETH gas fees and possible solutions. We've considered a few options on how to proceed, and I've asked the community for feedback as well.
Thank you for all of the feedback you've given us - there were hundreds of comments!
Solution: We Will Be Paying Out Users Once Per Month - On the First Monday of the Month.
The solution we have settled on for now is to schedule the payouts once per month, instead of once per week. We understand that this will make withdrawals less flexible for you. On the other hand, we also hope that you understand why this is needed - we will be saving a lot of funds by not paying the gas fees on a weekly basis, helping Publish0x be sustainable long term.
From now on, we will be paying out on every first Monday of the month. At the same time, we reserve the right to delay the payments for a few days, should gas fees be at higher levels on the first Monday of the month.
Why We've Chosen This Solution Over Others?
The other solutions discussed were to increase the minimum withdrawal threshold, and to introduce other tokens for tipping that are not on the Ethereum chain.
- We've decided not to raise the minimum withdrawal threshold as paying out once per month will, in a way, create a similar result.
- We've also decided not to introduce other tokens into the system, as we really believe that all of the three tipping tokens (ETH, BAT, and LRC) and projects created around them have a prosperous future. We cannot imagine ourselves disposing of all three tokens. At best, we could have changed one of the three tokens for a token that is not on the Ethereum chain. But, this wouldn't have helped us solve the problems created by high gas fees on the Ethereum network.
- Obviously, we do not want you to cover the gas fees from the funds you earn on Publish0x, not even even partially. Publish0x covers the full cost of transferring funds to your chosen wallets.
The next payout will be sent on Monday, 5th of October. Please note that you can still have one active withdrawal per month, and we are discussing a number of solutions to make this a bit more flexible.
Thank you for understanding!
Igor and the Publish0x team.