As part of a first version of the staking protocol we're working on and committing to deliver in Q4 2024,
we're aiming for implementing a first version of the XP token contract that complements the staking protocol as well.

The XP token (name of the token TBD) is a non transferable token that users earn by staking SNT tokens,
or by specified onchain activities on the Status Network.
These XP can then be used to participate in community-driven governance,
such as voting apps, and to get access to premium features in the Status app.

We're aiming for implementing a first version of this token and have it ready for deployment on an EVM based test network of Status' choice by the end of Q4 2024.

Here are the main features and requirements of the first version of this token:

• The token is ERC20 compliant but non-transferable
• The contract is upgradable, this is necessary to allow for future improvements and changes
• The token's balances leverage the internal accounting of the staking protocol, among other sources, to provide real-time values