The Status Network Token (SNT) is an ERC-20 token used for various activities on the Status platforms. The Status network is free to use but to access most primary features; you need to pay with SNT tokens. Here are some of them:
- Opt-in to use Status curation mechanisms (e.g., content or DApps).
- Become a seller in the Status Teller Network.
- List DApps and gain exposure in the DApp Directory.
- Select and receive push notifications.
- Vote and propose on the Status governance issues.
- Register and reserve usernames.
- Receive badges that indicate the account's level of trustworthiness.
Status ICO took place on June 20, 2017, and was sold out in a day. The project raised $99 million, and the investors received 10,000 for 1 ETH. At the time, the SNT price was $0.0365.
Status Coin Founders
Status was launched by Swiss co-founders Carl Bennetts and Jarrad Hope in June 2017. Status is based in Crypto Valley, Zug, Switzerland, with more than 70 full-time team members and experienced advisors. The company’s current COO is Nabil Naghdy, a former product manager at Google.
The Status founders aimed to promote public adoption of the Ethereum blockchain and its DApps by creating a gateway for mobile users to engage with the Ethereum blockchain seamlessly.
The duo has worked together on various blockchain projects.
Status has raised a total of $99.1M in funding over 5 rounds. The latest funding was raised on Jan 1, 2018, from a Seed round.
Status was funded by 7 investors, among them Firestartr and Fundamental Labs.
Status made 6 investments, with the most recent investment on Oct 10, 2018, when NewVector Group raised $5M.
How Does Status Work
Status serves as a gateway to interact with DApps built on Ethereum. Status App functions as a P2P messaging platform, web 3.0 browser, and a crypto wallet. It can be used for free trade, P2P payments, and encrypted P2P communication.
Status uses the Whisper V5 protocol to delegate nodes and support decentralized chat.
Whisper is an open-source Peer-to-Peer protocol and end-to-end encryption service requiring a special Ethereum node to store and transfer messages.
The Status Framework
The Status community also builds infrastructure tools to enable everyone to join the community. The main platform components include:
Incubate: It supports early-stage open-source startups, including funding, technical support, mentorship, legal and regulatory compliance, product design, marketing and communication, and other resources.
Embark: A simple, easy-to-use development framework that lets you build and deploy DApps.
Studio: An integrated environment for developers and those who wish to learn more about DApp development.
Nimbus: A research project and light client implementation for Ethereum 2.0, designed for embedded systems and resource-limited hardware.
Keycard: Status hardware wallet used for smooth, safe, and contactless transactions. It works with SNT, ETH, and many ERC-20 tokens. Its code is open-source, so everyone can use and edit it for personal needs.
These components function together to keep Status running, accessible, and secure for all its users.
Where to Buy Status SNT
The Status Network Token is a utility token used for several purposes within the Status ecosystem. SNT can be bought in many cryptocurrency exchanges.
The top crypto exchanges for buying, selling, and trading Status (SNT) include Bittrex, OKEx, ZG.com, BiONE, Upbit, and Bithumb.
Get started by checking the current price of the Status (SNT) token today!
Check out our How to Buy Status guide to learn more!
