Well that's the thing. Transparency is a dependency of trust. And as it stands, I for one ain't seeing a lot of the transparency, seeing as how (AFAICT) we can't see "under the hood". The lack of a published privacy policy is another red flag; publishing that policy - and including the necessary provisions to ensure that Slyde or any future owners/operators thereof will always put user privacy first - would go a long way toward establishing that transparency and therefore trust.
That said, it's a similar problem with DuckDuckGo: how do we know they're respecting users' privacy? DDG has it easy, since they're a search engine; absolutely nothing about their product requires storing any info about their users whatsoever, and thus (as far as anyone knows, and as far as they say) they don't. Slyde, however, is a social network, which makes the collection and storage of data much harder (if not impossible) to avoid.
