Status will be a messaging platform modeled after the popular Chinese mobile app, WeChat, which had 889 million users at the end of 2016. Status aims to create a level, open marketplace driven by socio-economic incentives where users control their information and how they share it.
The object of the token sale, the Status Network Token (SNT) will be used to purchase services over the network. Unlike centralized social network models, in which the owner monetizes user information in order to develop services that keep them on the network, Status will have an open, competitive marketplace for social network services providers. Here is a brief overview of SNT’s utility.
Purchase access to services like push notifications.
Register a username on the network
Vote in protocol decisions in a liquid democracy
Deploy semi-trusted, token-based group chats
Set a minimum amount of SNT that an unknown user must stake in order to contact them, reducing spam.
Opt in for community developed curation mechanisms
Become a seller on a peer-to-peer, crypto-fiat exchange network
Participation in the Status sticker market
