Status
Crypto Overview
Project Overview
Status (SNT) is a decentralized platform combining a messaging app, web3 browser, and cryptocurrency wallet. The SNT token serves as the native currency within the Status Network, enabling access to services and governance rights.
Purpose and Utility
The primary purpose of SNT is to facilitate operations within the Status ecosystem, including: access to advanced platform features, participation in the decentralized governance system, and payment for services within the network. Users can stake SNT to become curators of content and participate in decision-making processes.
Business Model Analysis
Status's business model focuses on providing decentralized communication and cryptocurrency services. The platform does not involve interest-based transactions or prohibited activities. All revenue streams come from legitimate technology services and network operations.
Development and Adoption
The project maintains active development, with regular github commits and protocol updates. The Status mobile app has seen moderate adoption, particularly in privacy-conscious communities. While trading remains a significant activity for SNT, this doesn't impact its fundamental halal status.
Token Distribution
Initial token distribution allocated approximately 41% to contributors and early supporters, with vesting periods implemented. The remaining tokens were distributed through a public sale and reserved for future development. While the initial allocation to team members was significant, vesting schedules helped align long-term interests.
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.