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How much is the Status(SNT) currency issued?
The total supply of Status (SNT) tokens amounts to 3,600,348,375, with 50.9% allocated to the non-profit SNT Foundation for platform support.
Dec 08, 2024 at 11:48 pm
How Much is the Status (SNT) Currency Issued?
Status (SNT) is a decentralized messaging platform that aims to provide a secure and private alternative to centralized messaging apps like WhatsApp and Telegram. The platform utilizes blockchain technology to allow users to communicate with each other without the need for a central server.
SNT Tokenomics
The SNT token is the native currency of the Status platform. It is used to incentivize users to contribute to the network, and it can also be used to purchase premium features and services.
The total supply of SNT tokens is 3,600,348,375.
Distribution of SNT Tokens
Here is a breakdown of how the SNT tokens were distributed:
- 50.9% - Distributed to the SNT Foundation, a non-profit organization that supports the development and promotion of the Status platform.
- 30.0% - Sold to investors during a public token sale held in 2017.
- 14.3% - Reserved for the Status team and advisors.
- 4.8% - Allocated to the Status Rewards Pool, which rewards users for contributing to the network.
Use Cases for SNT Tokens
The SNT token has several use cases within the Status platform:
- Network participation: Users can earn SNT tokens by contributing to the network, such as by running a node or relaying messages.
- Premium features and services: Users can use SNT tokens to purchase premium features and services, such as increased storage space or access to exclusive channels.
- Governance: SNT token holders can participate in the governance of the Status platform by voting on proposals that affect the future development of the platform.
Factors Affecting SNT Token Value
The value of the SNT token is influenced by several factors, including:
- Adoption of the Status platform: The more users adopt the Status platform, the more demand there will be for SNT tokens.
- Development of the network: The ongoing development of the Status network, such as the addition of new features and services, can also boost the value of SNT tokens.
- Market conditions: The overall cryptocurrency market conditions, such as the price of Bitcoin, can also impact the value of SNT tokens.
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