Hello prospective crowdsale participants,
The Storj crowdsale will begin on July 18, 2014 at 08:00 AM EST according to the terms listed herein.
“THE PROGRAM” refers to the software code that will be executed to provide cryptocurrency through the crowdsale,
which cryptocurrency may be compatible with Metadisk, DriveMiner, and/or any future application that runs on the
“SJCX” refers to Storjcoin X, the first cryptocurrency used on the Storj network which will be provided to you as a
THE PROGRAM IS DISTRIBUTED IN THE HOPE THAT IT WILL BE USEFUL, BUT WITHOUT ANY WARRANTY.
IT IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING,
BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A
PARTICULAR PURPOSE. THE ENTIRE RISK AS TO THE QUALITY AND PERFORMANCE OF THE PROGRAM IS
WITH YOU. SHOULD THE PROGRAM PROVE DEFECTIVE, YOU ASSUME THE COST OF ALL NECESSARY
SERVICING, REPAIR OR CORRECTION.
IN NO EVENT UNLESS REQUIRED BY APPLICABLE LAW WILL THE STORJ LABS BE HELD LIABLE TO YOU
FOR DAMAGES, INCLUDING ANY GENERAL, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES
ARISING OUT OF THE USE OR INABILITY TO USE THE PROGRAM (INCLUDING BUT NOT LIMITED TO LOSS
OF DATA OR DATA BEING RENDERED INACCURATE OR LOSSES SUSTAINED BY YOU OR THIRD PARTIES
OR A FAILURE OF THE PROGRAM TO OPERATE WITH ANY OTHER PROGRAMS), EVEN IF STORJ LABS HAS
BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
STORJ CROWDSALE DETAILS
Storj has decided to hold a crowdsale to aid in development and to offer early adopters a
chance to experience our software before anyone else. The goal of the Storj team is to raise up
to 9,800 BTC (or ~$6,000,000 at current exchange rates). This revenue will be allocated in the
● Reimbursement of prior expenses
● Salaries for full time contributors and payments to freelancers
● Further development of Metadisk, our web application software
● Development of DriveMiner, our storage and bandwidth renting software
● Research and development for the protocol, applications, and blockchain technologies
● Marketing, advertising, media, and articles
● Community Funding
● Legal counsel
This should give us enough resources to solidify our development team, perfect our codebase,
and strengthen the Storj community.
For more information about what Storj is creating please take a look at the deck on our
homepage http://storj.io and look at the crowdsale page at http://storj.io/crowdsale.
1. Storjcoin X (SJCX)
SJCX will be used to purchase bandwidth and storage space on the Storj network, initially within
Metadisk and DriveMiner. Because Storj is making innovations in blockchain technology, we
reserve the right to release new versions of SJCX in the future if further development cannot
continue without a hard fork or if another crowdsale is warranted.
To reward early adopters, holders of SJCX at the time of creation of new coins will automatically
be given at least a 10% stake in the new versions of Storjcoin. This will allow us, and other 3rd
parties to experiment with new blockchain technology before integrating it into SJCX, but
making sure that SJCX holders get their fair share in the interim.
● Algorithm: Counterparty Protocol
● Block Time: 10 minutes
● Total Coins: 500,000,000 SJCX
● Coin Distribution
○ Bitcoin Sales - 70% of coins
○ Developer Pool - 15% of coins
○ Community Pool - 15% of coins
The amount of SJCX participants receive during the crowdsale will depend on the
phase in which they contribute.
PHASE 1 - 10% Increase 0 - 1,800 BTC 38,500 SJCX per BTC
PHASE 2 - 5% increase 1,800 - 4,800 BTC 36,750 SJCX per BTC
PHASE 3 - Standard rate 4,800 - 9,800 BTC 32,480 SJCX per BTC
3. Early access to DriveMiner beta
When Storj determines that its storage and bandwidth renting application, DriveMiner, is ready
for use, participants in the crowdsale will be granted first access to the software and will be able
to sell their own space or purchase space from other users using SJCX. Storj reserves the right
to limit access to the beta for any reason.
We reserve the right to make modifications to the crowdsale plan, as we continue to refine the
protocols and strategy. Subscribers to our newsletter will be notified via email if we change the
terms. Please check the address in a block explorer before sending your coins. After we hit our
9,800 BTC limit, the extra coins will be returned to the wallet address which they were sent
We may be accepting up to 3 alternative cryptocurrencies in private or public sales with up to
200 BTC in market value each, at our discretion. This is so we have a solid stake in any
platform that we intend to integrate with Storj in the future. Potentials include Mastercoin,
Counterparty, and Safecoin. These sales distributions will be included as part of the Bitcoin
sales portion of SJCX.
1. Stake in Storj
SJCX is not a stock, security, equity, or share in a company. “Ownership” of SJCX tokens
resulting from this sale does not grant you any rights in Storj Labs whatsoever.
2. No refunds
No refunds will be made to purchasers of token Storjcoin X should they change their mind at a
later time, as the creation of the Storjcoin X tokens is locked in.
Storj held a pre-crowdsale to help us offset some of our ongoing marketing and development
costs. This allowed us to have a small team, and prototype our applications. The pre-crowdsale
was opened to a limited amount of people who fully understood the terms and conditions while
we were still drafting them. Pre-crowdsale participants received SJCX at a rate of 40,250 SJCX
per BTC up to 200 BTC.
4. If you send BTC From Coinbase or any other wallet that you don't
control the private key for, then you can't claim Storjcoin X
If you send your crowdsale bitcoins from a wallet that you do not control the private key for (e.g.
Coinbase), then you will not be able to claim the Storjcoin X you purchased, and we will be
unable to generate new ones for you. This is because the tokens are issued on the
Counterparty (XCP) protocol. We recommend you use Counterwallet to send your contribution
as you will see your Storjcoin X within Counterwallet immediately after we process the
transaction with no further steps. (Storj does not have a stake in Counterwallet).
5. Low liquidity / Ability to sell these digital tokens will be limited
If you are purchasing the token Storjcoin X in order to hold it as "a store of wealth or value",
please understand that this project is in its early days of development and that we cannot
predict what the market depth will be. Therefore, it may be harder to buy and sell these tokens
without affecting the price on the market.
The address for the crowdsale is 132aBrspLgL54cm9eQfGNFLGqXwBRQrugc
By sending BTC to the crowdsale address,you agree to all of the terms stated above.
If you have any questions, please contact us at <firstname.lastname@example.org>.
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