Status Token Sale: A decentralized mobile messaging platform built on Ethereum

Status will be a messaging platform modeled after the popular Chinese mobile app, WeChat.

Project Description

Status will be a messaging platform modeled after the popular Chinese mobile app, WeChat, which had 889 million users at the end of 2016. Status aims to create a level, open marketplace driven by socio-economic incentives where users control their information and how they share it.

The object of the token sale, the Status Network Token (SNT) will be used to purchase services over the network. Unlike centralized social network models, in which the owner monetizes user information in order to develop services that keep them on the network, Status will have an open, competitive marketplace for social network services providers. Here is a brief overview of SNT’s utility.

  • Purchase access to services like push notifications.
  • Register a username on the network
  • Vote in protocol decisions in a liquid democracy
  • Deploy semi-trusted, token-based group chats
  • Set a minimum amount of SNT that an unknown user must stake in order to contact them, reducing spam.
  • Opt in for community developed curation mechanisms
  • Become a seller on a peer-to-peer, crypto-fiat exchange network
  • Participation in the Status sticker market

Project Details

Incorporation status Status Research & Development GmbH, Switzerland
Team openness First names on website with full names in the white paper. The wiki does link to GitHub accounts
Blockchain Developer Unclear, though Jarrad Hope is a contributor to Viper (an Ethereum programming languages)
Technical White Paper Yes
Available Project Code Yes
Prototype Alpha avaliable on github for iOS and Android users

Token Details

Role of token Payment, contribution, and voting rights
Token supply Proportional to raise amount
Distributed in ICO 41 percent
Emission rate No new coins created
Blockchain Ethereum
Consensus method Proof of Work

Sale Details

Sale period June 17th, 2017 to July 1st, 2017
First price 0.0001 ETH
Accepted currencies ETH
Investment Round First public offering
Token distribution date Right after purchase
Min investment goal None
Max investment cap 12 million CHF + Hidden hard cap
How are funds held Smart contract
Minimal Viable Product 10,000 Alpha testers. Android deployment has an open invite for testing.
Bonus schedule No Bonus

Official Resources