Phaver Launches SOCIAL Token to Build the Creative Economy of the Future
Phaver , the leading multi-protocol social networking application powered by Lens Protocol and Farcaster , has announced the launch of its Phavercoin Token , Token SOCIAL. This is Phaver’s native Token , and the first time a mature application in the ecosystem Token Issuance . Phaver currently has over 500,000 users and a premarket has already begun on Aevo , with multiple exchange listings coming next week.
Phaver's SOCIAL Token is designed to fairly distribute value to those who actually create value for the app, the users. Phaver envisions a future where creators can directly monetize their content, and users not only own but benefit from their personal social networks.
Phaver has implemented verification of all Airdrop recipients via privacy-preserving facial scans or wallet content trustworthiness, to prevent bots and fraudulent farming accounts that are common in crypto projects and social media apps. The first users will receive 4% of the Phairdrop on Base during the TGE event, and 25% of the Token will be used to convert Points (Phaver Points) into Token ($SOCIAL) monthly, ensuring that both new and old users are equally involved and rewarded.
Phaver CEO and co-founder Joonatan Lintala Chia :
“Social media is one of the most obvious value exchange areas on the internet: Creators, content curators, and moderators create value for their audiences, and the attention and admiration of their audiences is a valuable asset. This means that, unlike other ‘x-to-earn’ models, it is entirely possible to create a sustainable and long-term Token Economy in SocialFi. It can reward value creators while also monetizing attention, premium content, and demand for premium features in a scalable way without falling prey to the ‘ponzinomics’ that are still prevalent in crypto.”
The SOCIAL Token will begin trading on Bybit and many other exchanges from September 24, along with launchpool opportunities to earn more Token. Phaver also launched a second Non-Fungible Token collection, Cred Passes, which can be Mint on OpenSea right up to the TGE, which is the most efficient way to reach higher levels on Phaver and unlock more Token in subsequent monthly redemptions.
Phaver’s unique approach to social media combines the best parts of DeSoc and SocialFi. Phaver’s Supergraph allows users to post freely and seamlessly on both Lens and Farcaster, decentralized protocols that help users back up their Decentralized Social Media and content where they own it, ensuring that they are never at the mercy of an individual, company, or government when their account is deleted. SocialFi provides a gamified experience that helps grow Watcher faster and rewards top contributors with real value, not just recognition or Karma points.
Following the Token launch, Phaver will focus more heavily on SocialFi. Users will soon experience using SOCIAL without paying Gas Price through the mobile app, with features such as an integrated wallet for tipping, locked content, in-game boosts, and item collection. There will also be a Web3-era advertising model in partnership with Spindl, where users can earn points and Chia revenue from Chia Frame-style ads to Watcher. These ads will use wallet-based, privacy-safe targeting without invasive tracking. Furthermore, Phaver Perks will unlock a variety of partner benefits such as Airdrop and discounts exclusively for verified users.
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