Status ICO

0 Comments

Status

Status is a decentralized open source blockchain based platform that helps users to interact with other decentralized applications running on the network.

Details

ICO Name Status
Description Status is a decentralized open source blockchain based platform that helps users to interact with other decentralized applications running on the network.
Website URL https://status.im/
White Paper URL https://status.im/whitepaper.pdf
Token Platform ETH (ERC20)
Coin Price 0.0370 USD
Funding Target 90,000,000 USD

What is Status?

Status is a decentralized open source blockchain based platform that helps users to interact with other decentralized applications running on the network. It has a messaging interface and a mobile supported browser through which users are able to control and manage their personal data, digital identity and wealth. The Status is an ERC20 token based platform and supports ethereum as its base currency.

Concept

Status brings a blockchain based decentralized app at users fingertips that make their mobile act as a node of a light client on ethereum network helping them access full ecosystem of ethereum from anywhere. The app intends to let their users discover a new decentralized economy with the help of a special feature named as “discover”. People use the status messaging app to exchange their ideas, currency, and services with other users and help the decentralized network to grow fast.

How Does Status Work?

The Status app is more than simply a messenger. It helps users to send payments as well as smart contracts to other users and friends from within chats, and offer exciting features of the encrypted messaging set as default, and this is done via peer-to-peer protocols which don’t depend on centralized servers.

Earn Status Tokens

The ICO launched its token sale last year. To earn Status tokens, investors needed to participate in the pre-sale phase or main sale of the ICO. Since the token sale of the ICO has already been concluded, therefore, people who wish to earn Status tokens can get them exchanged against major cryptocurrencies provided that Status tokens are supported on various exchanges.

Buy Status Tokens With E-Wallets

The platform is based on ERC20 tokens. ERC20 tokens are also commonly known as ethereum. Ethereum being cryptocurrency needs electronic wallets to be stored in. Therefore, investors who wish to buy Status tokens need to open an e-wallet account first, before they buy Status tokens.

The ICO Distribution

As per the information available from variant online sources, the ICO was launched in June 2017. However, we couldn’t find any information concerning the end date of the ICO. The ICO planned to raise a minimum of 90,000,000 USD. The ICO funding cap is not known yet. The supported cryptocurrency of the ICO is ethereum. The starting price of the Status Tokens (SNT) is 0.0370 USD.

Token Distribution

The tokens distribution of the ICO followed the proportion mentioned below.

  • 41% tokens were planned to be distributed to the public to subscribe
  • 10% tokens were planned to be distributed to holders of genesis tokens
  • 20% tokens were planned to be distributed to the core development team of the ICO
  • 29% tokens were planned to be reserved for future stakeholders.

Funds Distribution (100%)

The ICO also planned to distribute funds generated from the ICO between different departments of the ICO under following proportion.

  • 50% funds were planned to be allocated to core development team to help in expanding the network
  • 15% funds were planned to be spent on security purposes
  • 10% funds were planned to be spent on marketing purposes
  • 15% funds were planned to be spent on operational expenses
  • 10% funds were planned to be set aside to meet legal obligations

Bonus Offers

Although it is normal for ICOs to offer bonuses to their early participants or investors, however, we couldn’t find any such information on the official website of the ICO. We believe the ICO would have issued some bonus tokens to its early contributors, but only we couldn’t find the information. It could well be the case that the ICO has just removed the information about the bonuses offered since the token sale has been completed.

Team Members

  1. Jarrad Hope is the CEO of the company
  2. Carl Bennetts is the CCO of the company
  3. Anna Danchenko Head of Quality And Assurance at Status
  4. Chris Hutchinson is the Community Manager at Status
  5. Patrick Storchenegger is the head of Legal affairs of the Company
  6. Andrei Mironov is the Head of Design department of the Company
  7. Viktor Trón is the advisor to the company
  8. Zsolt Felföldi Bo Shen is also the advisor to the company
  9. Yessin Schiegg is another advisor to the company
  10. Maciej Olpinski is also another advisor to the company
  11. Jordi Baylina is another advisor to the company
  12. Luis Cuende is another advisor to the company
  13. Jorge Izquierdo is also another advisor to the company
  14. Joe Urgo is yet another advisor to the company
  15. Owen Barnes is the Creative Advisor at Status
  16. Roman Volosovskyi is the head of engineering department at Status
  17. Victor Farazdagi is the lead engineer at Status
  18. Alexander Pantyukhov is also an engineer at Status
  19. Andrey Shovkoplyas is also another engineer of the company
  20. Teemu Patja is also an engineer of the company
  21. Gustavo Nunes is also another engineer at Status
  22. Ricardo Schmidt is yet another engineer at Status

Invest In Status

After a careful review of the ICO, we hereby conclude that Status doesn’t sound much impressive. The official website of the ICO is not as elaborative as it was expected to be. Successful ICOs use to categorically announce that their token sale has been ended and they have successfully raised a certain amount of funds. However, Status hasn’t shared any such information. Status is not the first to introduce a messaging app that is based on blockchain technology since another ICO such as telegram seems to follow the same approach. We are unsure about whether one should invest in Status or not. We ask people to invest in Status at their own risk.

Visit Broker

Leave a Reply

avatar
  Subscribe  
Notify of
close-link

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.