Topic: [SNT] Official Status Network Speculation - page 65. (Read 157586 times)

Hey everyone. There's a lot of controversy in public channels about Status right now, so I'd like to take this chance to explain our position here openly.
First of all, I’d like to address the concerns of 'whitelisting whales'. Yes, there was a whitelist that ignored the maximum gas price, but this was not for any single individual but a collective of distribution partners. This was discussed in our Slack channel, and we had previously outlined this in detail here:
https://blog.status.im/status-network-token-issuance-ad877b79a10
The largest part of the whitelisted pool was for ICOage, which alone had over 2,000 individual participants with a KYC process. This was a good hedge in addition to our dynamic ceilings approach, given the nature of pseudonymous addresses.
imToken was our second largest allocation (with a further 2,000 participants). Their users’ transactions were pooled together in an attempt to avoid DDOS’ing the network. We will be publishing a full report shortly on why this decision proved to be the right one.
Unfortunately some contributors set a higher gas price than the maximum of >50 Gwei, resulting in massive network congestions and delay for everyone else. We've since updated https://contribute.status.im to clarify for everyone why their transactions may have been thrown.
The good news is that the network congestion is finally clearing up now, and you can see that we're now at over 4,400+ token holders:
https://etherscan.io/token/0x744d70fdbe2ba4cf95131626614a1763df805b9e
Our team’s goal from the start was always to achieve widespread distribution via dynamic ceilings. Has this worked? I’d like to think so, and you can see a working example of this here:
https://etherscan.io/tx/0x0ac6a4598ca7884713198173aae8ba4d8f2447ac243d96c310c82c650edebefc
This transaction was originally for 348 Ether. However, the Dynamic Ceiling capped it to 22 Ether, which was exchanged for SNT at the expected rate, following which both the 220,000 SNT and the remaining 326 Ether were returned to the sender. As a result, we have successfully achieved our goal of widespread distribution and we hope that this example has helped clarify how we did so.
Our mission here at Status has always been to put our community first. Despite the hiccups, we couldn't be more excited about building Status together with you. Together with your help and support, we can minimize the spread of misinformation. Please share this with anyone who you think may find it useful.
Thank you all again for your continued support. We deeply appreciate it.