Status Community Fund Activation Approved

The Snapshot community vote on activating a portion of the Status Community Fund closed last week and was approved, with a clear majority of participating SNT holders voting in favour of the initial activation of Status Community Fund tokens. 

The vote authorised the activation of up to 700 million SNT from the Community Fund for defined, launch-critical purposes related to the Status Network mainnet.

The scope of this decision is a limited activation, with a mandate tightly framed around achieving mainnet readiness as well as initial incentives and liquidity seeding. This aligns with the Community Fund’s intended usage, as explicitly described in the proposal and approved by the community.

The approved activation enables several necessary steps for the launch of Status Network. These include:

• Bridging SNT to the Status Network L2 via the pre-deposit vaults
• Supporting early user participation by providing SNT-denominated rewards across vaults
• Seeding and incentivising initial liquidity for the L2 native DEX and lending markets
• Incentivising builders and early apps and protocols deploying on Status Network
• Integrating key exchanges and infrastructure partners and complying with SNT liquidity requirements

In parallel, the vote also authorises a governance and security upgrade for the Status Community Fund wallet. Following the activation, the remaining Community Fund balance will be migrated to a new multisig with updated custody controls. 

Existing governance rules remain unchanged, and any future actions involving the Status Community Fund will continue to require explicit community approval.

With the vote concluded, our focus now shifts to execution within the bounds of the community’s mandate. 

The immediate next steps include preparatory bridging, achieving operational readiness for mainnet liquidity, and completion of the multisig migration. 

This decision marks the final governance step required ahead of Status Network’s transition from testnet to mainnet. 

Thank you to everyone who took the time to vote and participate in the governance process. We’ll share further updates as execution milestones are reached.