Post Crowdsale Report View this email in your browser

Post Crowdsale Report



Successful Crowdsale: The team at Storj is very pleased with the outcome of the crowdsale. It has beaten the best of our expectations and we want to send each one of you a big thank you for the support shown. This gives us a very good idea on how much you all care about this project and we are hard at work trying to accomplish truly decentralized cloud storage. We are as excited as you and devoted with our commitment. There is still a lot of work to be done but rest assured the team is on the case, focused on delivering the most secure, easy to use and affordable product in the industry. This is an update on the things we are currently working on, the plans we have for the contributions received, the distribution of Storjcoin X and our commitment to transparency. We also want to introduce you to the Storj team; find more details below.



How the funds raised will be used (BTC): Reimbursement of prior expenses

Salaries for full time contributors and payments to freelancers

Further development of Metadisk

Further development of DriveShare

Research and development for the protocol, applications, and blockchain technology

Marketing, advertising, media and articles

Community Funding

Legal counsel

What’s next: We will continue to devote our efforts to developing DriveShare and Metadisk. There are many questions that need to be addressed such as DriveShare timeline, and more specific fund usage details. We will be sending more email communications soon.



How to get your DriveShare access: Once DriveShare is ready for a beta test, addresses will be “whitelisted” in order of donations to the crowdsale. This will be a staggered release for example 10 people first, these people will test the network and offer feedback. We will fix issues that arise with this first group. Then we will scale up to 100 people and then repeat scale again to 1000 until all crowdsale participants are able to use DriveShare. These people will be the only ones on the network until we reach a point where it becomes necessary to release to the public to support the network.



What happened to the rest of the SJCX from the Crowdsale?

A majority of SJCXs have not been created yet. Once they are generated, we will most likely be using a timelock transaction to ensure they cannot be touched in order for our team and the community to come to an agreement on the specifics of their distribution.



Where will the rest of the funds go (SJCX)? Bounties - There will be bounties for apps built on top of Storj APIs, some will be requested by the team some will be selected from the best ideas we see posted on our forums.

- There will be bounties for apps built on top of Storj APIs, some will be requested by the team some will be selected from the best ideas we see posted on our forums. Early Farming - Funds left over from the crowdsale are reserved for rewards during early farming and testing of the network for users as well as future projects and crowdsales.

- Funds left over from the crowdsale are reserved for rewards during early farming and testing of the network for users as well as future projects and crowdsales. Future Crowdsales - Should the need arise to raise more funds for future applications, a portion of the remaining funds may be sold during future crowdsales. Care will be taken to make sure that participants in the first crowdsale get bonus rewards.

- Should the need arise to raise more funds for future applications, a portion of the remaining funds may be sold during future crowdsales. Care will be taken to make sure that participants in the first crowdsale get bonus rewards. Dev Funds - 75 million SJCX are for the developers and used for paying bounties and paying full time developers on the project and other internal expenses.

- 75 million SJCX are for the developers and used for paying bounties and paying full time developers on the project and other internal expenses. Community Funds - 75 million SJCX are slated to be distributed towards the community organization. The community on our forums recently held elections for positions of President, Vice President and Treasurer. These people are stepping up to drive community growth and development. The community as a whole will decide on what the best uses for this share of the coins are. Transparency - Public Addresses SJCX, BTC

We want to make sure that we are as transparent as possible so we are showing our supporters where the coins are and how they are used. Crowdsale Funds BTC Address: 132aBrspLgL54cm9eQfGNFLGqXwBRQrugc

132aBrspLgL54cm9eQfGNFLGqXwBRQrugc Current Remaining SJCX Address: 19KvumZgcs2owq9tF2obyg1SBmXDVdzNnW

As stated before we are still working on moving funds to their proper locations. We will provide an update on the correct addresses and ledgers.



Storj Team Members

Many users have requested to see the faces and names behind the Storj Project. We have created a team page which can be seen here .



Contact Storj

If you would like to get in touch, please email us at hello@storj.io

For news and updates, subscribe to our newsletter at http://storj.io or register on our forum at http://storjtalk.org

