In today's Web 2 world, big data dominates our lives: air tickets that go up in price after a few more glances, frequently pushed shopping ads, repetitive and boring posts... As users of social media, we have handed over control of our data to Internet giants, who use this data to label us and monetize it to the best of their ability.
Now, Phaver is in front of everyone as "Web 2.5". Phaver allows users to fully control their data and monetize their data, while breaking the barriers between Web 2 and Web 3. Users can use common Web 2 social networking site login methods, such as email, Google account, etc., and can smoothly enter the Web 3 world without a wallet. Phaver hopes to attract more people, not just Web3 natives, to experience a decentralized, data-autonomous, and privacy-protected Internet world.
Phaver is committed to building a super social graph in the Web3 world. It is the only social application that allows cross-posting and integrates both Lens Protocol and Farcaster Protocol. It created the Phaver Point system, a system similar to airline mileage rewards, to encourage community participation and motivate creators in a gamified way, and cleverly set up the Phaver Cred credit system, which can not only effectively prevent the abuse of robots, fake accounts and farming behaviors, but also activate the practicality of NFTs held by users.
So far, Phaver's data performance is very impressive. DAU is as high as 41k, of which the DAU data filtered by the robot, that is, the daily push volume after deduplication in the application, is 27k. It is currently the application with the largest daily active users and posts on Lens Protocol (accounting for 46% of the daily posts). Before the release of the full feature set, Phaver was already the largest external application on Farcaster (at the alpha launch, there were already 22k active accounts connected), contributing 40% of Farcaster's DAU. At present, Phaver's active users have connected wallet assets of more than 200 million US dollars, the number of application downloads has reached 350,000, the number of fans on its X platform has reached 300,000, and the latest airdrop announcement tweet has more than 820,000 reach.
Airdrops & Token Economics
Phaver token is $SOCIAL, with a total supply of 10 billion tokens, and will be the first social token to be listed on a centralized exchange (CEX). As a leading multi-protocol social application, Phaver has attracted high-level partners such as Animoca, Pudgy Penguins, and Rakuten Group, unlocking many future whitelists, airdrops, and other benefits for $SOCIAL holders, far exceeding any previous social token.
The official announcement of Airdrop Season 1 was made on May 8, accounting for 3% of the total circulation, and the snapshot time has not yet been determined. You can check the airdrop qualifications at the website: https://www.phairdrop.com/ . The airdrop for Season 1 has a cap for each user, with a maximum of 100,000 $SOCIAL per user, which will be fully unlocked upon listing. In the first two weeks alone, the first season of $SOCIAL's airdrop announcement attracted 110,000 visitors and more than 60,000 mentions on the X platform, indicating everyone's enthusiasm and expectations for the launch of the $SOCIAL token.
Users can redeem Points for $SOCIAL tokens. Users with different Cred levels will redeem at different ratios. The higher the level, the better the redemption ratio. For example, the redemption ratio for Level 2 users is 1000 (Points): 200 ($SOCIAL). To get a 1:1 redemption ratio, you need to have a Cred level of L5, a Creator badge, or a Phaver-Up NFT.
The current floor price of Phaver-Up NFT is 1805 Matic, which is worth about $1170, and can be traded on the NFT trading platform MagicEden. The Official Twitter stated that each Phaver-Up can earn 300 Points and 50 Cred per day, and encourages users to hold Phaver-Up NFTs with higher rarity. The benefits will be announced during the airdrop Season 2. Last month, the floor price of Phaver-Up free mint NFT exceeded $1250, and the airdrop value to the community exceeded $3 million, and it became the most frequently traded Polygon NFT on Magic Eden last week.
- Community rewards (27%) account for the largest share of tokens. They will be released gradually over the next five years and may also be subsidized by advertising revenue and other revenue sources (subscriptions, NFTs, etc.).
- Developer team (18%), including a 1-year lock-up period and a 4-year linear release, ensuring incentives for the team to build a long-term sustainable token ecosystem.
- The airdrop (3%) is intended to reward early users, and its distribution will be mainly based on the user's level and points, but users with special contributions may also receive additional rewards.
Phaver uses a gamified points system and reputation system to encourage the community to produce high-quality content
Phaver Cred
In order to minimize the common phenomena of bots and fake interactions on social platforms, Phaver has innovatively set up the Phaver Cred reputation score mechanism , which is a reputation score based on the user's on-chain assets (such as PFP and identity credential NFT), which cannot be forged or connected to multiple accounts at the same time. Phaver Cred determines the user's level in the application and can unlock privileges including free staking and monthly points redemption quotas, which increase as the user's level increases.
Phaver Cred is updated every 30 days. During this period, users can earn enough Creds by linking NFTs and maintaining activity to ensure that they are not downgraded. Different NFTs also have different Cred pricing, for example, CryptoPunks are worth 60 Creds, Azuki is worth 15 Creds, Doodles are worth 10 Creds, etc. In this way, Phaver enhances the identity of different NFT holders and paves the way for subsequent marketing activities in cooperation with NFT project parties.
Phaver Cred is currently divided into 5 levels. The conditions and corresponding benefits required to reach the level are as follows:
- Level l1: The initial level of users, who can publish advanced topic posts, link NFTs, bind Lens and CyberConnect, but will no longer receive any free Stake after TGE, and are not eligible to redeem any tokens;
- Level 2: 50 Phaver Creds, 5 free staking points per day, can view popular trending posts and have higher exposure for posts, have the opportunity to be on the partner whitelist in the future, and have a certain amount of points to redeem tokens every month after TGE;
- Level 3: 250 Phaver Creds, 10 free staking points per day, and all the benefits of Level 2, with higher priority in posting exposure;
- Level l4: 1,000 Phaver Creds, mainly active Web3 "super users" such as NFT whales and KOLs. This level has 20 free staking points per day, posts can be recommended and exposed on all pages, and enjoy VIP channel services.
- Level l5: 3000 Phaver Creds, a new level, 40 free staking points per day, and hidden benefits that have not yet been announced.
Point system and content pledge mechanism
Founder Joonatan said: "We hope to build a system that allows users to have a comfortable and free experience in the user interface while rewarding the efforts of creators. But at the same time, we will not build it in an "intrusive" way. "Therefore, they built an off-chain Phaver Point system. Users can earn points in a variety of ways, and in the future they can also purchase points in the app, and these Points can be exchanged for Phaver tokens, bringing real economic incentives to users.
There are three main ways to earn Phaver Points:
- Daily Stake : Stake can be understood as "incentivized likes" or "super likes". Users can stake their favorite content every day. If users stake in the early stages of a post and the post becomes popular later, the staker will receive a reward, and the creator of the post will also receive a portion of the reward. This gamified content discovery method helps provide higher quality inputs for the information flow algorithm.
- As a creator : Users can earn points by original posts or reposting posts.
- Invite new users : Each user has an invitation code. By inviting other users to join Phaver, when the invited user reaches level 2, both the inviter and the invitee will receive rewards.
Phaver Points can be used in the following ways:
- Staking to increase exposure : Users can stake their posts to increase exposure, which are called Super Posts and Premium Posts. Posts that get more Phaves not only have a significant impact on rewards, but also increase visibility in users' "recommended" information flow, making it easier for high-quality content to rise.
- Subscribe or unlock premium content : In the future, content creators can make some or all of their content premium posts that users need to pay points to access. This provides an incentive for creators without having to divert traffic to other platforms.
Through the Cred system's 30-day clearing system and the Point system's token exchange incentives, Phaver uses a gamified approach to encourage users to maintain in-app activity and actively participate in community building.
Team Background
Phaver's founding team has good complementary backgrounds and strong overall strength.
CEO Joonatan has ten years of marketing and BD experience in social media, and has a deep understanding of what kind of user groups are willing to pay for what kind of features. CTO Carlo was once the chief developer of a large gaming company and knows a lot about gamification. CFO Tomi is a former investment banker and venture capitalist who is responsible for monitoring token issuance, economics, and economic-related matters. Another co-founder founded his first cryptocurrency exchange in 2012 and has extensive industry experience in the crypto field.
In addition, Phaver now has a total of 28 employees worldwide, which helps Phaver have local language support in many key markets, including Chinese, Korean, Japanese, Vietnamese and many other languages.
Financing
According to Coincarp, Phaver completed a $7 million seed round of financing on October 5, 2023, with participation from Polygon Ventures, Nomad Capital, Symbolic Capital, dao5, Foresight Ventures, Alphanonce, f.actor and Superhero Capital. Cryptocurrency exchange SwissBorg also participated in this round of investment and shared its allocation with community members. Phaver was launched as a "Web2.5" mobile application in May 2022 and has raised more than $8 million in funds to date, with a valuation of approximately $80 million.
Summarize
As an emerging Web3 social platform, Phaver successfully combines the convenience of traditional social networks with the security and user-led nature of decentralized technologies through its unique "Web2.5" design concept and powerful economic incentive mechanism. Its multi-language support and global team configuration enable it to quickly enter multiple key markets and attract a wide range of user groups.
Phaver's growth potential lies in its ability to create a decentralized, data-autonomous, privacy-protected social environment for users, and to incentivize user participation and contribution through a points and reputation system. With the continuous development of Web3 technology and the increasing demand for decentralized social networks, Phaver is expected to become a bridge connecting the Web2 and Web3 worlds and occupy an important position in the SocialFi track.
