Cred Score Explained
Phaver Cred or Credibility Score is a new way to identify and reward genuine users based on wallet content such as NFTs
- 1.Is earned each active day on Phaver based on total NFTs connected to your account (Cred and Points values shown in the app accumulate each day the user is active in the app)
- 2.Helps separate bots and duplicates from genuine users, improving the experience for everyone
- 3.Allows NFT holders to earn a risk-free yield for any quality NFTs in their wallets by using Phaver
- 4.Enables leveling up in Phaver for increased perks like visibility and higher redemption of Phaver Points to Tokens after TGE (redemption available from Level 2 onwards)
Credibility and reputation have always been broken in Web2 social apps. Previously the likeliest way to gain a Twitter blue tick was bribing employees, while now everyone can get one with zero verification letting scammers roam wild.
In Web3 wallets provide a unique opportunity to solve this issue and allow users to build their credibility in a gamified way by connecting unique unfakeable assets from Bored Apes to OATs or soon privacy-friendly zero-knowledge IDs.
Most airdrop campaigns are plagued by multi-accounting and farming that boost numbers but provide no real value to anyone. In social media, these bots and farmers also end up ruining the experience for others, so it's important to ensure they are not rewarded for their harmful actions.
While anyone can earn Phaver Points, they can only be redeemed as tokens by users whose Cred qualifies them to Level 2 or higher. Each asset can be connected to only one account, so multi-accounting becomes harder and more expensive, while unique real users have a clear and fun path to discover more assets they can use to build up both their social reputation as well as their airdrop eligibility.
When building a successful social network, it is crucial to attract interesting users who have already built their reputation elsewhere and avoid them having to start all over again. Besides NFT collections with financial value, Cred also uses soulbound tokens and other credentials to transfer reputation from e.g. Twitter or your Degenscore, as well as OAT and W3ST badges (coming soon) for users who have been part of the Phaver journey for a while.
Besides in-app perks like visibility, these assets will also earn the user Points on each active day, which can be used inside the app or later redeemed for tokens, so using Phaver for all your Lens and CyberConnect actions really pays off.
Similar to airline status miles, Cred Score will allow you to level up in Phaver to receive multiple perks and a badge next to your username.
Cred is earned in 30-day qualification periods, after which you keep the Level you reached for the next 30 days while requalifying. This is again similar to travel loyalty programs but initially uses a faster 30-day period instead of a year to reward the long-term active users.
The Cred Score and levels are currently in a beta testing phase so criteria, benefits, and numbers may change anytime while we adjust for the best possible experience.
- Level 1: New Phaver users automatically start here. To prevent cheating, L1 users no longer receive any free Stakes and are not eligible to redeem any tokens after TGE
- Level 2: The second level is designed to indicate unique users based on a combination of daily in-app activity and unique assets in any connected wallets. L2 users get access to free Stakes and are eligible to show on trending lists and feeds as well as unlock the opportunity to redeem points for tokens after TGE.
- Level 3: Level 3 is designed to be reached by the top 5% of Phaver users and shows you are both an active user of Phaver as Web3 in general. L3 perks include higher amounts of everything: Stakes, visibility, redeemable tokens, etc.
- Level 4: Less than 1% of users reach this highest tier, which includes NFT whales, Twitter KOLs, original degens, and other Web3 super users who are also active on Phaver. This level is designed to motivate the most interesting people in the Web3 scene to join and more easily rebuild their reach in the Web3 social world as well as get significant airdrop opportunities if active enough on Phaver.
The Phaver Cred Score is an important tool for users who want to get the most out of the app, and for Phaver to maintain and continue to build a high-quality user base and user experience. As we keep testing and iterating we appreciate all feedback in our Discord. You may also suggest more NFT assets to add to Cred.