Open discussion / ideas for updated tokenomics

[jammerdan]

@striker43

I expect as an employee or board member you will not sell every STORJ that you get immediately as you believe in the companies growth. Also many SNO’s don’t do that.

Maybe they should have sold immediately. Look,

I have collected some quotes from the past:

@thepaul

Importantly, as someone else said, the STORJ token is not an investment vehicle. Its value is not tied to the success of the Storj company or the quality of its technology.

@BrightSilence

It absolutely does not. These are not shares. The token value implies the value of the token only, not of the project or company.

@striker43

For stakeholders that have a huge bag of tokens, that‘s indeed an investment, even if it’s not defined like that by official institutions.

And even more quotes that it is not considered as investment and never was:

@Alexey

The STORJ token is utility token for simple transfer of USD value between parties, it’s not shares, securities or investment into the company.

@heunland

STORJ is a utility token, not to be considered as an investment vehicle.

@Roxor

STORJ has never been something you hold expecting price appreciation. It’s a utility token that makes paying almost 28000 global providers convenient. SNOs should sell every token 5min after receiving it…

@striker43

If nobody would be thinking that STORJ token has any value, everybody would sell everything immediately and price would drop to 0 very fast. So obviously there are many people treating the token as a kind of investment right now.

The token value is not tied to the success or worth of the company, the value is not expected to go up and it should be irrelevant for for the operation. So there shouldn’t be any investors or holders:

@Roxor

It’s not a coin you’d hold for price appreciation, and it’s not tied to the profitability of Storj-the-company. (I mean if the company starts making serious cash the token isn’t worth more: but obviously if the company went out-of-business the token would die)

@arrogantrabbit

STOJ token is a utility token. Its worth at any point in time is completely irrelevant. It is not an investment vehicle, it’s not a share in the company.

@heunland

STORJ is a utility token, that is correct. Its use case is to pay storage node operators for their services, and to allow customers to pay for their usage on the Storj network.

@Roxor

The STORJ token gives you a 10% discount on Cloud Storage. Don’t buy it hoping the price will go up.

@Alexey

Storj tokens are utility tokens, not investment into the company. They are used to pay for the service and as a payout to Storage Node Operators.

@bre

(1) This video is an excellent explanation of the Storj utility token by John Gleeson, COO

(2) There are no plans to change structure

@Roxor

the token has no direct link to the profitability of the company… so the number-go-up crypto-bros have left us alone

@MarviBiene

This is not a share of the company. In fact no crypto coin is a share of any company.

@arrogantrabbit

Purpose of token today is to transfer value. Its own value is irrelevant. It has no intrinsic value. It’s a medium of exchange.

@Mitsos

Now repeat after me: if I hold any storj tokens I will immediately market sell them on any of the exchanges that I use.

@Roxor

But it’s not a token you’d buy as an investment (just to get a deal on buying space).

As token price is not tied to the company’s success but to supply and demand. So when token holders or “investors” expect higher prices, where can they come from? I can see only that they come from Storj when they start buying back tokens and the holders and “investors” will be able to control the supply and Storj is forced to buy. This makes the value of the token suddenly relevant for the operation of the company.

@striker43

So obviously there are many people treating the token as a kind of investment right now.

The quotes are showing that everybody including company officials have said in the past that the token is not an investment but a utility token. So what is it really? Does it turn out now that despite the companies claims to be only a utility token, it is in reality an investment asset? This makes a real difference as suddenly the token value does matter.
With an existing stable coin like USDT or USDC this whole discussion about token prices and value would be obsolete and immediately eliminated for SNOs, the company, “investors” and literally anybody else. This would achieve the originally intended goal that the value of the token does not matter.

@striker43

So please let’s come back to the intended discussion of this thread on additional usecases / tokenomics of the token instead of discussing the whole existence of the token.

In my opinion it makes a huge difference for imagining use cases if the value of the token matters or not. But also as I have said before there is no sense in creating use cases for a token that is obsolete or nobody is interested to use. That’s why the tokens future shall be part of this brainstorming about its use.