What Should Status Build Next?: SNT Hodlers Vote Now, Earn XP!

What Should Status Build Next?: SNT Hodlers Vote Now, Earn XP!

on Jun 20, 2024

SNT hodlers – it’s time to make your voice heard in the first Status community vote!

Since late 2023, we’ve been assessing the feasibility of three New Initiative Proposals through discussions with the Status Community on our forum. We’re now ready for SNT hodlers to choose whether we should prioritise the development of an SNT staking mechanism, a new contact discovery feature, or a Status layer-2 rollup!

Read on to learn about each NIP, how to vote for the one you’d like to see developed first, and how to earn XP for participating in this vote.

Starting 20 June, SNT hodlers can vote on which of three exciting new projects Status should work on first. The vote will be held on Snapshot and determine whether we prioritise the development of NIP-1, NIP-2, or NIP-3.

  • NIP-1: SNT Staking Mechanism – a non-custodial staking system with rewards distributed in multiplier points (XP) aiming to better align community incentives, increase governance engagement, and attract users to the Status app.
  • NIP-2: Pseudonymous Contact Discovery – an opt-in way for Status users to connect with contacts from less privacy-focused applications and social networks aiming to enhance user retention.
  • NIP-3: Status Layer-2 Rollup – Status Network would provide a low-cost onchain transaction environment for Status features that require blockchain interaction and would be optimised for socials apps, GameFi, and governance experiments.

Learn more about each NIP and vote for your preferred one on Snapshot now! The vote is weighted, meaning you can allocate a percentage of your SNT hodlings to multiple NIPs. Votes can be cast with SNT on Ethereum mainnet or Optimism.

You have until 27 June to vote. We’ll then announce the winning NIP and start working to make it a reality!

Status community members who engage in various activities within the Status ecosystem will receive XP, which will be useful in future governance votes and potentially other initiatives. We have some exciting ideas we’re developing for XP and we’ll reveal more details about them very soon!

So far, we’re distributing XP to everyone who participates in this SNT vote and users of both the Status Desktop and Status Mobile Beta releases.

Participation in this vote requires users to hold SNT tokens on either Ethereum mainnet or Optimism. When voting concludes on 27 June, the winner will be the NIP with the highest number of SNT allocated. Our engineers will then get to work on the NIPs in the order the community chooses!

To vote, head to the Status proposal page on Snapshot.

Connect the wallet in which you hodl SNT and make sure you have the correct network selected.

Select the NIPs you want to vote for and enter the amount of SNT you wish to allocate to each.

Click the ‘Vote’ button and sign the message in your wallet when prompted.

Status builds everything open source and out in the open. New Initiative Proposals give our community the opportunity to participate in the discussion about new initiatives for Status engineers to take on and for SNT hodlers to determine which we should prioritise.

You have until 27 June to cast your votes. May the best NIP win!

Stay tuned to Status on X to learn the winning proposal when voting concludes on 27 June and the next steps towards the winning NIP’s development.

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