To our token holders and network participants,
Today Storj Management and Board have commenced a voluntary, court-supervised financial restructuring — an accelerated reorganization. You deserve more than a press release, so here is the full picture, plainly.
Why we did this. The company carries liabilities that largely predate our current strategy. Inveniam has continued to support us, and the operating business has been right-sized — lean team, disciplined costs. But past obligations of this scale cannot be outgrown; they can only be resolved. This process resolves them in one place, under court supervision, with full transparency, and gives us the time to present a strong business plan for what comes next.
The network and the token today. The network continues to operate normally. The token’s utility in the network is unchanged by today’s announcement. We will not comment on price — not today, not during the process; we know trading has been quiet and low for a long time, and nothing in this letter is a prediction or an inducement to buy or sell anything.
The path we intend to propose. Our goal — stated openly — is that the restructured company be owned by the people who built it and the people who believed in it: management, this decentralized community, Token holders and other investors. Concretely, we intend to propose, as part of a plan of reorganization, a mechanism for Token holders to participate in the equity of the restructured company. The design (eligibility, mechanics, and terms) will be developed during the process and disclosed formally.
What we cannot promise. A plan must be approved through the court process, and the law sets priorities among stakeholders that we must respect. So we are promising you a seat at the table and a genuine intention — not an outcome. We would rather be straight with you now than walk anything back later.
How to engage — concretely:
- Organization: we strongly encourage token holders who wish to organize as a group during the process are welcome to do so; we are keen to engage constructively with any representative group, and the email above is the starting point. Please reach out so that we can build Storj with our community.
- Dedicated channel: community@storj.io — staffed, read daily, with a commitment to respond within [2] business days.
- Open AMA with Storj management team: TBD. Questions can be submitted in advance via the email above.
- Formal process information: court documents, timelines, and official notices. If you believe you hold a claim, please email community@storj.io — please rely on it over rumor.
Kaloyan Raev
Director, Software Engineering
Storj
Important: This letter is for information only. It is not an offer or solicitation of any security or token, not a promise of any recovery or distribution, and not financial advice. Any participation by token holders in the restructured company will occur only pursuant to a court-approved plan and definitive documentation, and applicable securities laws.
