Storj (STORJ)

System: Storj — Storage and Indexing

Storj is a distributed cloud storage system that provides Amazon Simple Storage Service (S3)-compatible object storage to developers, enterprises and other storage customers. Founded in 2014, it uses encryption, erasure coding, distributed storage nodes, Uplink, Gateway and S3 access tooling, Satellites, billing infrastructure and the STORJ token. The system boundary covers the Storj-branded storage service, customer access and account systems, Storj-operated Satellites, independent Storage Node Operators, node audit, repair and reputation processes, and STORJ payment and payout rails. Object Mount and Cloud Compute are acknowledged as adjacent Storj commercial activities but are not treated as part of the profiled STORJ-mediated storage system.

Market Data

Price$0.049838
Market Cap$21.06M
Fully Diluted Valuation$21.06M
30d Change3.70%
365d Change-81.00%

Token Functionalities

Payments

  • Prepaid Credit

    Right to redeem or deposit STORJ with Storj for a USD-equivalent account balance used for specified future Storj services. The credit balance is a non-transferable accounting mechanism, not a separate token, and the functionality belongs to STORJ.

  • Token-Settled Discount

    Right to receive a better effective price when settling Storj payment through STORJ, currently implemented as a 10% bonus on STORJ token payments.

System Attributes

Operating Model

<p>Storj&#39;s&nbsp;core&nbsp;storage&nbsp;service&nbsp;depends&nbsp;on&nbsp;Storj-operated&nbsp;Satellites&nbsp;and&nbsp;company-controlled&nbsp;account,&nbsp;billing,&nbsp;payment,&nbsp;audit,&nbsp;repair,&nbsp;reputation&nbsp;and&nbsp;node-payment&nbsp;processes.&nbsp;Independent&nbsp;Storage&nbsp;Node&nbsp;Operators&nbsp;provide&nbsp;storage&nbsp;resources,&nbsp;but&nbsp;they&nbsp;participate&nbsp;through&nbsp;Storj&nbsp;software,&nbsp;service&nbsp;requirements&nbsp;and&nbsp;supplier&nbsp;terms&nbsp;rather&nbsp;than&nbsp;through&nbsp;a&nbsp;fully&nbsp;on-chain&nbsp;coordination&nbsp;protocol.&nbsp;STORJ&nbsp;token&nbsp;contracts,&nbsp;Ethereum&nbsp;and&nbsp;zkSync&nbsp;settlement&nbsp;rails,&nbsp;and&nbsp;StorjScan&nbsp;payment&nbsp;infrastructure&nbsp;support&nbsp;payment&nbsp;and&nbsp;routing&nbsp;functions,&nbsp;but&nbsp;they&nbsp;do&nbsp;not&nbsp;enforce&nbsp;the&nbsp;core&nbsp;measurement,&nbsp;audit,&nbsp;repair,&nbsp;node&nbsp;selection&nbsp;or&nbsp;customer-account&nbsp;processes&nbsp;required&nbsp;to&nbsp;deliver&nbsp;the&nbsp;storage&nbsp;service.&nbsp;Those&nbsp;operational&nbsp;dependencies&nbsp;remain&nbsp;primarily&nbsp;off-chain&nbsp;and&nbsp;entity-administered.</p>

Value Creation

<p>Storj&nbsp;creates&nbsp;value&nbsp;off-chain&nbsp;by&nbsp;coordinating&nbsp;durable&nbsp;object&nbsp;storage&nbsp;and&nbsp;retrieval&nbsp;across&nbsp;independent&nbsp;storage&nbsp;nodes.&nbsp;Customer&nbsp;data&nbsp;is&nbsp;encrypted,&nbsp;erasure-coded,&nbsp;split&nbsp;into&nbsp;pieces&nbsp;and&nbsp;distributed&nbsp;across&nbsp;storage-node&nbsp;infrastructure,&nbsp;while&nbsp;Satellites&nbsp;manage&nbsp;metadata,&nbsp;node&nbsp;discovery,&nbsp;reputation,&nbsp;audit&nbsp;and&nbsp;repair&nbsp;processes.&nbsp;Storage&nbsp;Node&nbsp;Operators&nbsp;supply&nbsp;disk&nbsp;capacity&nbsp;and&nbsp;bandwidth,&nbsp;and&nbsp;customers&nbsp;access&nbsp;stored&nbsp;objects&nbsp;through&nbsp;Uplink,&nbsp;Gateway&nbsp;and&nbsp;S3-compatible&nbsp;tooling.&nbsp;The&nbsp;economically&nbsp;valuable&nbsp;service&nbsp;is&nbsp;the&nbsp;storage&nbsp;and&nbsp;retrieval&nbsp;of&nbsp;data,&nbsp;which&nbsp;is&nbsp;performed&nbsp;by&nbsp;off-chain&nbsp;infrastructure&nbsp;rather&nbsp;than&nbsp;by&nbsp;smart&nbsp;contracts.&nbsp;On-chain&nbsp;token&nbsp;transfers&nbsp;and&nbsp;settlement&nbsp;rails&nbsp;support&nbsp;payment&nbsp;flows&nbsp;but&nbsp;do&nbsp;not&nbsp;themselves&nbsp;produce&nbsp;the&nbsp;storage,&nbsp;durability,&nbsp;bandwidth&nbsp;or&nbsp;object-access&nbsp;service.</p>

Value Capture

<p>Storj&nbsp;has&nbsp;Hybrid&nbsp;Value&nbsp;Capture&nbsp;and&nbsp;Routing.&nbsp;On&nbsp;the&nbsp;off-chain&nbsp;side,&nbsp;customer&nbsp;pricing,&nbsp;account&nbsp;balances,&nbsp;billing&nbsp;rules,&nbsp;service&nbsp;terms,&nbsp;payment&nbsp;methods&nbsp;and&nbsp;commercial&nbsp;relationships&nbsp;are&nbsp;administered&nbsp;through&nbsp;Storj-controlled&nbsp;systems.&nbsp;Customers&nbsp;pay&nbsp;for&nbsp;storage&nbsp;and&nbsp;related&nbsp;services&nbsp;through&nbsp;account-level&nbsp;billing,&nbsp;including&nbsp;credit-card&nbsp;and&nbsp;other&nbsp;non-token&nbsp;payment&nbsp;options.&nbsp;On&nbsp;the&nbsp;on-chain&nbsp;side,&nbsp;STORJ&nbsp;can&nbsp;be&nbsp;deposited&nbsp;through&nbsp;supported&nbsp;token&nbsp;rails&nbsp;and&nbsp;credited&nbsp;to&nbsp;a&nbsp;Storj&nbsp;account&nbsp;after&nbsp;confirmation,&nbsp;while&nbsp;Storage&nbsp;Node&nbsp;Operator&nbsp;fees&nbsp;are&nbsp;paid&nbsp;in&nbsp;STORJ.&nbsp;Value&nbsp;therefore&nbsp;routes&nbsp;through&nbsp;both&nbsp;off-chain&nbsp;commercial&nbsp;systems&nbsp;and&nbsp;token-payment&nbsp;rails,&nbsp;even&nbsp;though&nbsp;the&nbsp;core&nbsp;service&nbsp;is&nbsp;created&nbsp;off-chain.</p>

Governance

Participant-Based: <p>Storj&nbsp;has&nbsp;limited&nbsp;Participant-Based&nbsp;Governance&nbsp;at&nbsp;the&nbsp;storage-node&nbsp;operation&nbsp;layer.&nbsp;Storage&nbsp;Node&nbsp;Operators&nbsp;control&nbsp;their&nbsp;own&nbsp;devices,&nbsp;make&nbsp;local&nbsp;storage&nbsp;capacity&nbsp;and&nbsp;bandwidth&nbsp;available,&nbsp;and&nbsp;configure&nbsp;operational&nbsp;participation&nbsp;through&nbsp;Storj’s&nbsp;storage-node&nbsp;software.&nbsp;This&nbsp;governance&nbsp;is&nbsp;role-gated&nbsp;because&nbsp;the&nbsp;authority&nbsp;comes&nbsp;from&nbsp;operating&nbsp;a&nbsp;node,&nbsp;not&nbsp;from&nbsp;holding&nbsp;STORJ.&nbsp;It&nbsp;is&nbsp;also&nbsp;bounded&nbsp;by&nbsp;Storj-set&nbsp;service&nbsp;rules,&nbsp;software&nbsp;requirements,&nbsp;payout&nbsp;terms,&nbsp;audit&nbsp;processes,&nbsp;held-amount&nbsp;rules&nbsp;and&nbsp;disqualification&nbsp;conditions.&nbsp;Participant-Based&nbsp;Governance,&nbsp;therefore,&nbsp;applies&nbsp;only&nbsp;to&nbsp;node-level&nbsp;resource&nbsp;operation,&nbsp;while&nbsp;broader&nbsp;service&nbsp;rules&nbsp;and&nbsp;economic&nbsp;terms&nbsp;remain&nbsp;entity-governed.</p> Entity-Based: <p>Storj&nbsp;has&nbsp;Entity-Based&nbsp;Governance&nbsp;over&nbsp;the&nbsp;main&nbsp;branded-service&nbsp;components.&nbsp;Storj&nbsp;Labs,&nbsp;operating&nbsp;in&nbsp;the&nbsp;Inveniam&nbsp;corporate&nbsp;context&nbsp;following&nbsp;the&nbsp;announced&nbsp;acquisition,&nbsp;holds&nbsp;binding&nbsp;decision&nbsp;rights&nbsp;over&nbsp;the&nbsp;Storj-branded&nbsp;product,&nbsp;customer&nbsp;accounts,&nbsp;pricing,&nbsp;payment&nbsp;methods,&nbsp;Satellites,&nbsp;audit&nbsp;and&nbsp;repair&nbsp;processes,&nbsp;reputation&nbsp;systems,&nbsp;Storage&nbsp;Node&nbsp;Operator&nbsp;payout&nbsp;rules,&nbsp;containment&nbsp;and&nbsp;disqualification.&nbsp;Satellites&nbsp;are&nbsp;especially&nbsp;material&nbsp;because&nbsp;they&nbsp;coordinate&nbsp;node&nbsp;discovery,&nbsp;metadata,&nbsp;billing,&nbsp;storage-node&nbsp;payment,&nbsp;authorisation,&nbsp;audit&nbsp;and&nbsp;repair.&nbsp;Inveniam&nbsp;is&nbsp;relevant&nbsp;as&nbsp;the&nbsp;parent&nbsp;or&nbsp;strategic&nbsp;corporate&nbsp;context&nbsp;for&nbsp;those&nbsp;entity-controlled&nbsp;components,&nbsp;but&nbsp;the&nbsp;available&nbsp;evidence&nbsp;does&nbsp;not&nbsp;show&nbsp;a&nbsp;live&nbsp;change&nbsp;to&nbsp;STORJ&nbsp;token&nbsp;functionality.&nbsp;Current&nbsp;STORJ&nbsp;functionality&nbsp;was&nbsp;described&nbsp;as&nbsp;unchanged&nbsp;following&nbsp;the&nbsp;acquisition&nbsp;announcement.</p>