Status
Crypto Overview
Understanding Intended Utility
Status (SNT) is a utility token designed to power the Status Network, a decentralized platform that combines a secure messaging app, Web3 browser, and cryptocurrency wallet. The token's primary intended use is to enable access to services, govern the network, and facilitate transactions within the Status ecosystem.
Platform Functionality
The Status platform aims to serve as a gateway to the decentralized web, allowing users to chat, browse decentralized applications (dApps), and manage digital assets in a privacy-focused environment. SNT tokens are used for: governance voting, accessing premium features, curating content, and powering the platform's decentralized push notification market.
Current Usage and Development
The Status mobile app is actively maintained and available on both iOS and Android platforms. The project maintains regular development activity on GitHub, with ongoing updates and improvements. The network has seen moderate adoption, primarily among privacy-focused cryptocurrency users and Web3 enthusiasts.
Token Distribution and Governance
The token distribution shows a relatively fair initial allocation, with significant portions distributed to the community. The project maintains transparency in its development process and financial operations. The team's tokens were subject to vesting periods, demonstrating commitment to long-term development.
Revenue Model and Operations
Status operates as a decentralized platform without traditional revenue streams based on interest or prohibited activities. The business model focuses on creating utility through technological innovation and network effects rather than speculative financial products.
Crypto Impact
To assign a comfort level investing in Status from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Status.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.