Is it the time for we to discuss about the 0.2 $Near Storage fee

NDC Community and nodes
1

Hi.
As I mentioned in the topic title, I think we should discuss about the storage fee at the moment.
The problem: 0.2Near for a wallet right now is very cheap but in the long-term, when $Near hits around > 20$ / token. Then that 0.2 $Near >= $4. This will be increased by the time price of $Near is getting higher and higher

The topic of storage fee had been discussed at the following link:

But in my opinion, it seems still hasn’t optimized the use of storage fees. Therefore I would make a suggestion like this.

Option 1: + Based on the topic by our BlackDragon, I would suggest making an automatic algorithm to calculate the storage fee depends on the price of $Near. The higher $Near gets, the less storage fee we need to maintain $Near wallet is accessible by everyone.
Option 2: + We come up with a solution to get rid of the storage fee and getting mass adoption ($Near wallet for all) like we used to do before?
Option 3: + Use stable coin instead of $Near. This require more complicated work from devs because I haven’t seen any chain can do this uptill now.

Reason: From my point of view who is in the group chat on telegram for quite some time, newcomers usually confuse about the process of creating a Near Wallet or hesitate to invest 0.2 $Near to make a wallet. I am not sure this is the right way to do since We have tons of awesome apps and project on upcoming time. So getting rid of the storage fee is a way we let newcomers have an ease of mind to access and explore our new apps/projects on Near.

This is my personal point of view. Please let me know your idea on this
Mods/admins please help me to tag/move the post whatever its needs to be. Thanks

5 Likes
2

It’s actually more like 0.0224 N or something but the way wallet is implemented requires 0.2 N. So if you really need cheaper accounts created you’ll have to create a tool to use contracts like this:

Cheap accounts are useful for a number of reasons e.g. airdrop. But I don’t think we can differentiate between storage costs and account costs. This would just introduce unnecessary complexity.

3

Thank you for the reply, Matt!

After recent talked with illia, his idea is also making stable coin to be the storage fee. I really like this idea, but this seems to need more complex work from devs.
Hope this could work somedays