Status

About Status

Status is an open-source, decentralized mobile application that enables users to access the Ethereum network, communicate with others, and store and manage their cryptocurrencies securely. It provides a decentralized, private messaging platform and a web3 browser, allowing users to access and interact with decentralized applications (dApps) on the Ethereum network. The platform's main goal is to make blockchain technology more accessible to the masses by offering a user-friendly interface and privacy-focused communication. Status also has a built-in decentralized exchange, which enables users to trade Ethereum-based tokens without the need for a centralized intermediary. Overall, Status aims to empower individuals to take control of their digital lives by providing a secure, decentralized platform for communication, storage, and financial transactions.

About $SNT token

$SNT is the native cryptocurrency of the Status mobile app and decentralized communication platform, which enables private messaging, payments, and decentralized application browsing on the Ethereum network. The token is used to facilitate transactions and interactions within the Status ecosystem and can also be staked to participate in the platform's governance and decision-making processes.

How to buy $SNT with a payment card

1. Enter the amount of $SNT and fiat currency that you wish to purchase.

2. Verify your phone and email.

3. Enter or create $SNT wallet

You are given the option to enter your $SNT wallet address or create one using the Swipelux widget.

4. Pass KYC flow

This verification process helps protect you from fraud and other malicious activities.

5. You're now ready to buy $SNT with a credit and debit card.

$SNT analytics

Market Position and Adoption: As of March 2023, the SNT token holds a market rank of #252 with a market cap of $108,289,333. The token is currently on 44,742 watchlists, indicating a decent level of interest from the cryptocurrency community. The 24-hour volume for SNT stands at $3,420,644, with a fully diluted market cap of $185,895,817.

Technology and Platform: SNT is an Ethereum-based ERC-20 token that powers the Status network, an open-source, decentralized messaging platform that allows users to send and receive messages, make payments, and access decentralized applications (dApps) all within the app. The platform uses the Whisper protocol for messaging and the Swarm protocol for decentralized storage.

Team: The Status team is made up of experienced developers, designers, and community managers with a shared vision of creating a more open and decentralized web. The team is led by co-founders Jarrad Hope and Carl Bennetts, who have a strong background in cryptocurrency and blockchain technology.

Competition: As a decentralized messaging platform, Status faces competition from other similar projects such as Telegram, Signal, and WhatsApp. However, Status differentiates itself by offering a more private and decentralized platform that also enables users to access dApps directly within the app.

Supply: The circulating supply of SNT tokens is currently at 3,964,730,597 out of a total supply of 6,804,974,035. The token has no maximum supply limit. SNT is available for trading on various centralized and decentralized exchanges, with CEX volume accounting for the majority of its trading volume.

Overall, SNT is a unique token that powers a decentralized messaging platform with a focus on privacy and access to dApps. The platform has the potential to attract users who prioritize privacy and security while also enabling them to seamlessly access decentralized applications.

$SNT risks

1. Regulatory Risks: The regulatory environment surrounding cryptocurrencies and tokens is constantly evolving and can have a significant impact on the value and adoption of SNT token. Changes in regulations could lead to increased scrutiny or even bans on the use of SNT token, reducing its market demand and value.

2. Market Risks: The value of SNT token is heavily influenced by market demand and sentiment, which can be highly volatile and unpredictable. Sudden price fluctuations or market downturns could result in significant losses for investors holding SNT token.

3. Technological Risks: SNT token is built on the Ethereum blockchain, which is still a relatively new and rapidly evolving technology. The security and scalability of the Ethereum network, as well as any future upgrades or changes, could impact the value and adoption of SNT token.

4. Competition Risks: There are numerous other blockchain-based messaging and communication platforms that compete with Status and its SNT token. If these platforms are able to offer superior features, functionality, or security, it could reduce the demand for SNT token and negatively impact its value.

5. Adoption Risks: The success of SNT token is largely dependent on its adoption and usage within the Status platform and broader blockchain ecosystem. If adoption is slow or fails to gain traction, it could limit the demand for SNT token and adversely affect its value.

6. Liquidity Risks: SNT token may experience liquidity risks, particularly in times of market volatility or reduced demand. Low trading volumes or limited availability on exchanges could make it difficult for investors to buy or sell SNT token, potentially leading to significant losses.

Potential market development triggers

Adoption of the Status platform by more users and communities, leading to increased demand for the SNT token as a means of payment and value transfer within the ecosystem. Partnerships with other blockchain projects and companies, which could result in new use cases for the SNT token and increase its visibility in the wider cryptocurrency community. Expansion of the Status ecosystem to new markets, such as emerging economies with high smartphone penetration but limited access to traditional financial services.

Integration with other decentralized applications and platforms, which could create additional use cases for the SNT token and further increase its utility.

Introduction of new features and improvements to the Status platform, which could attract more users and increase demand for the SNT token.

Increased regulatory clarity and acceptance of cryptocurrencies, which could lead to greater adoption of the Status platform and increased demand for the SNT token. Stronger community engagement and development of decentralized governance mechanisms, which could increase user participation and ownership in the Status ecosystem and lead to more robust network effects.