Account Minimum Balance Increase - 7/21/21

Hello community,

This is a notice to let everyone know that we will be increasing the Account Minimum Balance for all accounts to ensure they can store more NFTs following MainNet Spork 11 (July 21). All accounts will be automatically funded to ensure they meet the new minimum, as part of the sporking process.

When does this go into effect?
Following the July 21 MainNet Spork.

Why is this changing?
We’ve seen significant growth in the NFTs folks want to store and our initial estimate just wasn’t enough. This change will ensure everyone’s account has room for more NFTs by default by increasing the new minimum to 400KB of storage. This change to account minimum balance is for users that are expanding their NFT storage usage rapidly.

As a reminder, the minimum account balance is deducted from the creator (payer) of the new account. Account creation cost is now 0.04 FLOW.

What do I need to do about this?
To ensure all existing accounts have enough FLOW to meet the new account minimum balance, we will be funding existing accounts as part of the sporking process on July 21. No action is required.

How will this impact the upcoming Spork?
Due to the need for our team to top up accounts with FLOW, the spork is expected to take additional time to complete.

If you have any questions, please feel free to contact us and we will further assist you.

Thank you,
The Flow Team :ocean: