Status
Crypto Overview
Project Overview
Status (SNT) is a decentralized messaging platform and mobile interface to interact with decentralized applications (dApps) built on Ethereum. The project aims to serve as a secure communication tool, crypto wallet, and Web3 browser all in one mobile application.
Intended Utility
The SNT token is designed to provide utility within the Status Network ecosystem, including: governance rights for the Status Network, access to premium features, curation of content and services, and participation in the Status client.
Actual Usage and Development
The project maintains active development with regular GitHub commits and updates to their mobile application. The Status Network has seen moderate adoption, primarily among crypto-native users, though usage remains below initial projections. The development team continues to improve the platform's functionality and user experience.
Token Distribution and Governance
The initial token distribution allocated approximately 41% to contributors and Status Core Dev team, with vesting periods implemented. The remaining tokens were distributed through a public contribution period and retained for future development. The project demonstrates transparency in its token economics and governance structure.
Revenue Model and Operations
Status operates as a non-profit organization, with the primary focus on developing open-source software. The platform does not involve interest-bearing mechanisms or prohibited activities under Islamic law. The primary revenue streams come from optional premium features and services within the ecosystem.
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.