INTRODUCING: PHAVES

Phaver is all about a great community and great content, and now we are doubling down on these by putting community-curated content at the center and introducing Phaving with an all new reward system!

How did Point rewards 1.0 work?

Previously, Phaver had regular and Premium communities. When posting in a Premium community, you would use 50+ points per post. You would also receive 10 points for each Stake they got from other users. For regular posts, users earned 1 point for each Stake they got.

This mechanism was built to incentivize high-quality posting vs mass spamming as the best way to earn, and significantly improved the average quality of posts. However, it still allowed getting Points from farming with unoriginal posts and did not provide other alternatives to earn from e.g. curation.

Whatโ€™s new in Point rewards 2.0?

First off, Phaver has always been about finding your favorite posts, and now that is brought to the center with PHAVING! The former Staking has been renamed and redesigned and now a majority of daily Point Rewards will be distributed to phavers instead of posters.

This model ensures we still reward the best posts each day, but also our entire community can get rewarded by helping discover those best posts, creating the best-curated feed in all of Web3. We can also replace biased algorithms with a truly decentralized model where the community votes each day who should be rewarded and earns in the process, bringing us closer to a DAO model.

Posting in Point economy 2.0:

Free posts are no longer eligible for rewards even if they become popular, to discourage farming, but the Premium Community logic is now on a post level with POST BOOSTING, allowing posters to participate in the daily reward pool with Premium Posts (50p) and new Super Posts (500p) that provide boosted visibility and eligibility for rewards.

The most recent Super posts are also now found in their own filter on top of the feed for extra visibility.

All used Phaves build up a daily reward pool that is shared among the best posters and phavers. A post participates in the first pool available after being live for 24 hours, to make things fair across timezones, and is ranked based on the amount of Phaves received. The distribution logic of the rewards is not public and will be adjusted often, but in simple terms more Phaves means more Points, though the relationship is no longer linear (no more 10 Points per Stake).

The rewards on your posts can be seen in the Cred dashboard page after the pool has been rewarded.

Phaving in 2.0:

Choose your favorite posts each day by giving them Phaves and get rewarded with Points if others also agree with you and the post becomes popular.

How will it work in practice?

Users still receive 5/10/20 Phaves (formerly Stakes) each day based on their Cred Level. When a user gives a Phave, we add points in the Daily reward pool. This reward pool is used to reward both the best phavers and posters and is subsidized by Phaver to ensure people get fair rewards.

Phaving rewards get distributed among the phavers on popular posts with more rewards reserved for the most popular posts. The earlier you phave a popular post, the more rewards you can earn, so being the 1000th phaver on a post may not get you rewarded. In very popular posts there are also many more users sharing the reward, so the best phaving rewards come if you help discover posts that are not from the most popular users but deserve to be seen and rewarded.

Like Posting Rewards, also Phaving Rewards are distributed in 24h cycles and results can be seen in your Cred dashboard. (COMING SOON)

Other changes to posting

To simplify the Community structure and give users full control over their posting, besides Premium logic, also the visibility of posts is now controllable on post level. Previously posts in Holder Communities were always private and other Communities public, but now you can post public and private posts to any Community. Posts to your profile are always public (private profiles coming later).

New Post Visibility options

Community Only: Only members of the selected community can see the post.

Everyone on Phaver: All Phaver users can see and comment on the post.

Everyone on Lens: All Phaver and Lens Protocol users can see and comment on the post.

This new system allows more control over the audience so users can for example post in their native language in a local community but make English posts to their followers, or dive deep into a topic of interest without spamming those followers with different interests. As before, the Lens setting allows choosing if the post is distributed also to other Lens apps like Hey, Orb and Buttrfly.

How do I control post boosting and visibility?

When making a post through the + button, you first select if you want to post to a community you belong to, or just your profile. After making your post the new final screen gives you a preview of what the post will look like and allows selecting Post visibility and Post boosting. After selecting just hit Create post and wait for the Phaves to flow in.

How do I get Points to use for posting?

We are soon launching a new onboarding experience that gives every new user their first batch of Points while helping them learn about Phaver and set up their profile. The other great option is to connect your wallets and start earning Points alongside Cred for your NFTs. In this update we have cut the Point earning for NFTs in half to reward the early users with higher value and reflect the massive new Point opportunity users get from Phaving, where Cred helps you level up and get more Phaves therefore making it possible to get more Points each day for finding the best posts.

And that's not all!

We have also upgraded the mirroring experience. By community demand you can now again mirror posts into Communities AND create Quote Mirrors on Phaver and Lens! Hit the Mirror button on any post, select the Community, and write your comment about the post youโ€™re sharing. You can also boost a mirror post, but as before, the rewards and Phaves go to the original poster. To reflect the logic in other Lens apps, now normal Mirror comments go to the original post, while Quote Mirror comments and likes go to the quote post.

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