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What is SNT ？
Status ( network token called ‘ SNT ’ ) is an open source messaging platform and mobile interface to interact with decentralized applications that run on the Ethereum Network.
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.
For detail introduction of SNT, please refer to SNT Whitepaper.
By introducing the Status Network Token, we can not only provide use-cases that were previously impossible in web 2.0 environments, but also address some of the core problems created by incentive misalignment and sock puppet bot creation that plague social networks today.
Some specific application scenarios about SNT as follows :
Decentralized Push Notification Market : SNT is required by Stakeholders to select and receive push notifications. It make the costs explicit to the User and don’t exclude possibilities what can offer the service ‘ for free ’ by the User viewing ads to pay for push notifications, then it give the User a choice.
Governance : A core part of the Status Network Token is giving stakeholders the ability to choose the direction that the software is developed. The token is used to make decisions on proposals, which can be made by any Stakeholder. For each decision, the token is cloned into a separate decision token. The amount of tokens you hold at that time becomes your voting power for that decision and it does not cost SNT to vote.
Usernames on Ethereum Name Service : An account must be holding The Status Network Token in order to reserve a username. This username is used to identify themselves within the greater Status community, and signal participation in the network. And Status abstracts the recovery process , which make user more easily recover his account should he lose his mobile device. Should a stakeholder wish to leave the network they can withdraw their token and the username will be unreserved and claimable by any other stakeholder.
Indicators of Trust : With the Status Network Token, Status intends to implement a non-exploitable online reputation system based on TrustDavis, and deploys a semi-public token-based group chats by use SNT. There will be a micro-deposit in SNT required for creating a group chat with these moderation tools. Status users have to prove they have a minimum economic stake in a token, or set of tokens, in order to qualify as a participant to join the online discussion, thus significantly raising the costs of sockpuppet actors.
Tribute to Talk : Status will be introducing an economics-based anti-spam filter.This enables stakeholders to set a minimum amount of SNT that a Status stakeholder must deposit in order for someone outside of their network to contact him directly. If the recipient replies the deposit is forfeited to the recipient.
Community Curation & Attention-based Signalling : Within the Status Network, stakeholders will be able to opt-in to curate the content that is displayed by producing signatures on events (i.e. by upvoting or downvoting content or ideas), referred to as signals, in which the stakeholders’ token backing is weighted in ranking. The aggregate signals generated from stakeholders form an open graph that content rankers can use. Should a stakeholder be dissatisfied with the content ranking by their current provider, they can choose between a market of search algorithm providers.
Status Teller Network : The Teller Network allows Stakeholders in the Network to find nearby users to exchange their cash for digital assets and currency, giving any smartphone owner in the world the ability to take control of their personal wealth.
DApp Directory : The Status DApp directory will provide a way to navigate by category and rating, enabling users to find exactly what they are looking for. Of course, only SNT holder required for curation and signaling in the Teller Network to improve the quality of the DApp Directory listings, these signals help improve the quality of content ranking.
Sticker Market : User can create and begin selling their own designs to users all over the world, and to begin using stickers within any Status chat.
User Acquisition Engine : The Status Acquisition Engine is based on the referral design in the paid user acquisition business model. In this model, Publisher (Seller) need to deposits some SNT in advance , and an Advertiser (Buyer) asks a Publisher to drive traffic to their offering, paying the Publisher on a cost-per-action basis.
The Status Network Token(‘SNT’) will be distributed at a rate of 10,000SNT per 1 ETH to participants in theContribution Period, and is expected to begin on June 20th. The Contribution Period will run for 14 days, orwithin 24 hours of the first ceiling of 12M CHF (Swiss Francs) having been reached Status.
Specific allocation ratio can be seen below：