STATUS ecosystem consists of two fundamental elements: STATUS NFTs and $STATUS tokens. STATUS NFTs were designed to establish a benchmark for digital status symbols. $STATUS token is a “social status token”, with an experimental and distinctive use case designed to showcase the social status of its owner.
As part of the STATUS experiment, the $STATUS token introduces new functionality for a fungible digital asset. Before the existence of the $STATUS token, there were no digital assets specifically designed to showcase the social status of their owner, making the $STATUS token the first on-chain instrument to fill this gap.
$STATUS is a fully functional ERC-20 token on the Ethereum blockchain. The total supply of $STATUS is capped at 1 billion tokens, and no additional tokens will ever be created. $STATUS contract is immutable and there will be no future token developments. $STATUS token is currently available on the Uniswap platform.
STATUS Token Design
The allocation of $STATUS tokens is outlined in the chart below. 60% of tokens will be allocated to the community to ensure the decentralization of the STATUS project. 20% of tokens will be allocated to the STATUS Ecosystem Reserve. The remaining 20% of tokens will be allocated to contributors, subject to a 9-month lock-up period starting from the date of the STATUS NFT collection release on the OpenSea platform.