Today, we are pleased to publish our first quarterly STORJ token balances and flows report.
We plan to update this report for the next town hall, which is currently scheduled for January 2019, and then continue to publish it quarterly at each subsequent town hall. While it is possible to recreate this information directly from the Ethereum blockchain, we think it is helpful for storage node operators, customers, satellite operators, and others who use the token to have this information presented in a transparent manner for easy consumption. In the same spirit that we make our code, roadmaps, and other items publicly available and transparent, we want to make the token flows accessible as well. As with all of our posts concerning the token, the disclaimer found at the bottom of this document applies.
The detailed STORJ token balances and flows report is here. The quick summary of our token balances as of November 30, 2018 is:
a. our token sale put 75.1 M STORJ into circulation.
b. of the 50.1 M STORJ reserved for conversion of the legacy SJCX token, 43.1 M have been used for conversion, and there are approximately 6.9 M still in reserve for conversion.
c. of the 54.8 M in operational reserves initially held by Storj Labs after the sale, approximately 5.8 M have been used, primarily for paying storage node operators and other service providers. This leaves 49.1 M in our operational reserves.
e. Finally, 245.0 M STORJ remain in timelock.
f. This means that 75.1 + 43.1 + 5.8 = 124.0 M STORJ are in circulation. Another 49.1 M + 6.9 M = 56.0 M are in non-timelocked reserves.
g. The total number of STORJ now and in the future is the 124.0 M in circulation plus the 56.0 M in non-timelocked reserves plus 245.0 M in timelocked reserves = 425.0 M.
We’ve provided addresses for our major reserves, so that totals can be easily verified. The success of the Storj community depends on all participants having confidence in, and understanding of, the STORJ token. If you have questions, clarifications, or suggestions on how we can better present this information in the future, please let us know!
The STORJ token is intended to facilitate the provision and receipt of data storage and related services through Storj Labs’ software application, which serves as a user interface and development platform on the network. The STORJ token is not intended to be a digital currency, security, commodity or any other kind of financial instrument.
The contents of this publication contain a high-level overview of the network and the STORJ token and is subject to change as Storj Labs refines its plans. Changes to the network, the STORJ token, and the policies referenced in this post are entirely within the discretion of Storj Labs and could result from commercial, technical or legal issues, among others.