First the good news: Transcoding is going really well. I’ve earned almost 1.5 ETH in fees already, considerably more than most other transcoders/orchestrators!
Now the bad news: We need to talk about fees… the gas prices are crazy high at the moment, resulting in very costly reward calls. The last two cost me $80 each, while receiving only ~$25 in LPT. Obviously this is not sustainable… I will therefore increase my reward cut to 8% (to break even on gas costs vs LPT rewards, not including server & maintenance costs…)
Please not that this is only temporary and I’ll decrease the cut again once we’re back to normal gas price levels (or if the reward call mechanics are reworked).
At the same time, I have to increase my fee cut. As mentioned on discord and here in the forum, I’m currently losing ETH with a fee cut of only 25%.
As an example the latest fee returns: A ticket value of 0.13 ETH -> I’m sharing 75% of it and keeping only 0.0325 ETH. But I’m paying 0.0845 ETH for the transaction itself… Until this is reworked or the gas prices come down, I’m forced to increase the fee cut to 65% (again, this is ~break even for me in terms of gas costs).
Thank you for understanding and for staking with me 