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What is Status Network Token (SNT)?

Crypto Terms Glossary: What is Status Network Token (SNT)?

The Status Network Token is the native ERC-20 utility token of Status Network, an open-source messaging platform. SNT plays a key role in Status' decentralized platform governance, as any Status community stakeholder can use SNT to vote on network proposals. With each vote the SNT committed is cloned into a separate decision token that is counted. As a result, while the amount of SNT tokens a user holds at that time of the vote represents that user's voting power for that decision, it does not cost any SNT to participate.

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