Token Sale Wrap-up Details

September 20, 2017

Where are all the tokens?

There were 500 million STORJ tokens created to replace the 500 million SJCX that were already in existence.

What is the current status of our tokens?

The following is the breakdown of the token status in each bucket:

  • Token Sale (Main) - 28.74MM
  • Token Sale (Pre-Sale Total) - 43.34MM
  • Token Sale (Pre-Sale Claimed) - 32.97MM
  • Token Sale (Pre-Sale Frozen) - 10.37MM
  • Converted (as of Sept 13, 2017) - 29.35MM (20.65MM SJCX still unconverted)
  • As SJCX tokens are converted to STORJ, they come out of the Storj Labs Unlocked Tokens which means that the circulation numbers will not change
  • Allocated to Service Providers - 2.99MM
  • This includes Farmer payments, vendor payments etc…
  • Storj Labs Unlocked - 54.92MM
  • Storj Labs Reserved for SJCX to STORJ Converter - 20.66MM

I purchased STORJ Tokens in the pre-sale. When will the freeze be released?

Not including our 245MM locked tokens mentioned prior, there were a total of 43.34MM tokens in time locks.

Here is the breakdown…

  • 1 Month Time Lock - 28.56MM (Freeze ended July 20th, 2017 GMT)
  • 3 Month Time Lock - 3.94MM (Freeze ends September 20th, 2017 GMT)
  • 6 Month Time Lock - 10.37MM (Freeze ends December 20th, 2017 GMT)

The 1 month time lock tokens freeze has already ended and they have all been distributed.

Were all STORJ tokens delivered and in the correct amount and rate?

Yes. However, we are aware of certain cases where users did not receive their tokens or the correct number of tokens. These situations have been corrected as they were reported.

We are still in the process of doing a deep audit of every transaction related to the token sale and in the event that there are errors are found, they will be proactively corrected.

Storj stated that an equivalent number of tokens to the number of tokens sold in the token sale would be burned. Has this happened?

Yes. There were nearly 75MM tokens sold in the token sale. We have already burned 75MM tokens to match this number as promised prior to the sale.

You can see that here…

What is being done with all of the old SJCX now that it has been replaced with STORJ?

The SJCX that has been sent to the converter will all be burned once the converter is shut down.

We will also burn all of the remaining SJCX that is held by Storj Labs.

When will the converter be shut down?

The SJCX to STORJ Token converter will stay active until 11:00 AM EDT on October 25th, 2017.

Originally we announced that the converter would be shutdown on October 19th. We have extended the time that it will stay active to account for the down time from the Bitcoin fork precautions.

Can SJCX tokens still be converted after the Token Converter is shut down?

No. If you do not convert your tokens while the token converter is still active, there will be no options to convert them afterwards. Please make sure to convert your tokens before the converter is taken offline.

How is Storj Labs planning on using the funds raised from the Token Sale?

Storj Labs will utilize the funds raised in the token sale as stated in the Token Sale Terms document under section B item 8 (Use of Proceeds from Token Sale), which you can find at the link below.

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