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
|Role of token
||Payment, contribution, and voting rights
||Proportional to raise amount
|Distributed in ICO
||No new coins created
||Proof of Work
||June 17th, 2017 to July 1st, 2017
||First public offering
|Token distribution date
||Right after purchase
|Min investment goal
|Max investment cap
||12 million CHF + Hidden hard cap
|How are funds held
|Minimal Viable Product
||10,000 Alpha testers. Android deployment has an open invite for testing.