😎Season 2 Phairdrop

All you need to know about the Phaver Season 2 Airdrop

Phairdrop Season 2 is now live! You have one month from token launch to increase your potential allocation and claiming will happen in the Phaver app for eligible users on a time announced later.

Eligibility

Season 2 is the first of monthly seasons where users redeem Phaver Points for $SOCIAL tokens based on the following factors:

1. Amount of Points

Each user can only at most redeem as many points as they hold, so gathering more points by posting, phaving and connecting NFTs truly counts.

2. Level

By earning more Cred from connected NFTs and daily activity, users level up and earn higher redemption rates. The maximum amount of Points you can use in a season depends on the level. To increase your Level most efficiently, get a new Phaver Cred Pass NFT from Opensea!(link)

3. $SOCIAL holdings

To reward holders and buyers, the $SOCIAL tokens you hold across all Phaver-connected wallets give you a multiplier on your redemption which can go up to 60x! This multiplier is determined by the 30-day average holdings of $SOCIAL in Phaver-connected wallets. At any point you can check your current total balance and latest 30-day average in your Dashboard (level icon at bottom menu).

The token allocation formula explained

Points used for the Season redemption times Holder multiplier divided by the sum of all redemptions for the season. This gives you a share of the total pool which in Season 2 is 2% so 200 million $SOCIAL.

There is no direct exchange rate between Points and Tokens and your Points x Multiplier number is not a sum of Tokens but a share of the total. A simplified example: You are a Level 5 user who redeems the full 250k Points in Season 2 and you also hold your Season 1 Phairdrop of 110k $SOCIAL which gives you a multiplier of 3x growing your total share to 750k. If we assume this number combined with others results in 750M, your share would be 750k/750M so 0.1%. In a Season of 200M tokens this would mean 200k $SOCIAL as your Season 2 allocation.

$SOCIAL Holding benefits

For maximal earnings, users are incentivized to keep at least a majority of the Tokens they receive. Instead of traditional staking where you need to lock tokens, in Phaver you only need to hold them in Phaver-connected wallets to receive the benefits. Note that exchange accounts can not be connected to Phaver so tokens held in a CEX do not yield any benefits in Season 2.

To receive maximal upside, a user should keep building a portfolio of $SOCIAL either by buying from the market or redeeming the monthly seasons where holding the previous round will always increase the multiplier for the next season.

Very soon Phaver will also launch in-app wallets that allow gasless use of $SOCIAL in the app to boost visibility, earn more from Phaving, and unlock special content and tipping from others.

Detailed multipliers in Season 2 based on average $SOCIAL held in Phaver:

NOTE: If the amount of $SOCIAL is (= or >) the thresholds listed in the left hand column below , the higher multiplier will automatically will be awarded Here are some examples to make it clear:

• if you have an average of 250 $SOCIAL - you will earn 0.5x (not the lower 0.1x)

• 2500 will earn you 1x (not the lower value of 0.5x)

• 175,000 will earn you 4x (not the lower 3.5x)

• 5,000,000 will earn you 60x (not the lower 40x)