What will happen to the STORJ token

[Batman]

I am an investor in the STORJ token because I believed in the vision behind this project and its long-term potential.

Today, I feel deeply disappointed and concerned.

The Chapter 11 announcement has left many investors with uncertainty and very few answers. We placed our trust in this project, and now we are left wondering what the future holds.My biggest question is simple: What will happen to the STORJ token?

I hope the team will communicate openly and provide clear answers to investors. Transparency is essential, especially at a time like this.I sincerely hope the project can recover, but rebuilding trust will require honesty, accountability, and clear communication.

[Alexey]

Hello @Batman,
Welcome to the forum!

First of all - buying STORJ tokens not an investment to the company, it’s an utility token to pay for the service (and have 10% on top of each top-up), there are some benefits are included. The same token is used to pay our storage providers for the used space and bandwidth.
Currently STORJ tokens doesn’t give you a share in the company, they are not stocks and not securities.
I hope, that I explained, that you are not an investor to the company, at least up today.

Second, this Chapter 11 mean that all our decisions will be guided by the court. Thus we cannot give you any guarantee or promises right now, it’s no more fully in our hands.
We hope that our plan will be accepted by the court. I cannot share any details, but we want to keep the token and economics behind it, like it was before, maybe with some extent.
The main goal is to provide a distributed end-to-end encrypted cloud storage didn’t change, all business will continue to operate.
Please, subscribe to our blogs and if you want to have more details - to our forum.

[Alexey]

See also

$STORJ Community Buyout: Indication of Interest Is Open

To our token holders and network participants, In the open letter on July 26, we promised this community a seat at the table during the restructuring and concrete ways to engage. Since then, many of you have written to cbo@storj.io. Thank you. Every message is read, and the response has made one thing clear: this community wants to organize. Today we are opening the next step: an official indication of interest form for the $STORJ community buyout. The community’s indicative target is 10-20% o…

[wrath0x]

Your response is the exact reason why no one want to buy the token. Higher token prices gives you guys a larger treasury to expand. You guys should have a system where buying the tokens is encouraged.

[arrogantrabbit]

I highly doubt this will ever materialize or be approved. I don’t see how can it be feasible to convert from being strictly utility into a company share, without impacting the market:

• if it’s utility, you don’t invest in it.
• if it is going to be share, and you announce it in advance – you affect the price.
• if you don’t – you are rewarding minority of gamblers

Either way regulatory nighmware.

Issuing a new token – yes. At which point, just do a normal IPO and stop messing with fake money.