Status is an open source messaging platform and mobile interface to interact with decentralized applications that run on the Ethereum Network. SNT is a utility network token for Status, the first ever mobile Ethereum client built entirely on peer-to-peer technologies.
The messenger form-factor is chosen to make Ethereum feel as familiar as possible to the average smartphone user, while providing a flexible platform for DApp developers, aimed to maximise the amount of daily use of Ethereum’s public blockchain.
The Status Network token is a modular utility token that fuels the Status network. This includes a Decentralized Push Notification Market, Governance of the Status client, Community Curation of content, along with social communication tools such as Tribute to Talk. We also propose a fiat-to-crypto 'Teller Network', DApp Directory, Sticker Market, and demonstrate our research on a User Acquisition Engine to grow the Network.
The Status Network Token (‘SNT’) is distributed at a rate of 10,000 SNT per 1 ETH to participants in the Contribution Period.