DFINITY recently released the new cycles ledger canister, enabling principals to hold cycles and greatly increasing the utility of Cycles as a token
Today, in partnership with Plug Wallet the CycleOps team is excited to announce the option for developers to Bring your own Cycles for canister topups , monitoring , alerts , and analytics on https://cycleops.dev.
This new cycles payment option directly integrates with the new icrc2 enabled cycles ledger , allowing users of CycleOps to dynamically pay for recurring charges (such as canister cycles top ups), while allowing users to retain full custody of their cycles ledger account (principal id).
Right now, changing from ICP to cycles payments is available for existing CycleOps customers by:
Navigating to the âBillingâ tab
Selecting âPayment Methodâ
Clicking on âChange Payment Methodâ.
Got cycles, but not sure how to use the new cycles ledger?
Weâve got you covered with tutorials on how to migrate from XTC and the Cycles Wallet to the new cycles ledger , includingâŠ
Migrating Cycles from XTC token to the new Dfinity Cycles Ledger
The CycleOps team would like to give a huge thank you to from ICDevs MVP and Motoko wizard @skilesare for delivering this feature , as well as @Severin , @dfx-json , and the DFINITY SDK team for their help and communication while integrating with the brand new cycles ledger .
Running an application on the Internet Computer is extremely cost effective , so even with a moderately burning application that burns 100T a year, the cost comes out to 30T cycles a year - on the order of $30 USD/yr or $2.5/month, essentially less than a cup of coffee
That being said, keep in mind that the CycleOps service isnât solely automated topups. We provide a full monitoring suite with historical chart data , topup and memory email alerts , project & canister organization , csv topup transaction history downloads , and more!
Right now the cost of top ups are âbundled inâ with the rest of the monitoring suite.
We agree that if you have a high burning application like OpenChat, Hot or Not, or an AI application (i.e. burning 2k-20kT a month), 30% is a much, much bigger deal
So far, we havenât supported an application burning higher than 500T/year ($12.5 in monitoring fees a month), but a sign of a successful application is an upwards cycle burn trajectory , and we agree that fees shouldnât get in the way
One of the things weâre looking into right now is a CycleOps Pro feature, such that in return for a monthly fee youâd get a decreased cycles rate, alongside some other monitoring & tooling features
Some other pricing strategies weâve discussed internally include providing a price gradation on the fee, but this is all to say that we hear your feedback, and are working on it