Earning Points on Phaver happens by improving the experience, e.g., creating content, curating posts from the chronological feed by casting points, etc.
Casting points on your own posts to boost their visibility will also soon be possible - similar to what happens when others cast stakes on your post.
To redeem points for Phaver Tokens a user needs to fill certain criteria to mitigate cheating and multi-accounting activities. Besides Points, users will earn Phaver Cred, a credibility score initially based on your on-chain assets such as PFP and credential NFTs, which are not possible to fake or connect to multiple accounts at the same time.
Phaver Cred determines the user's Level in the app, similar to an airline's status miles defining their loyalty tier, while points correspond to reward miles in this example. The user's Level unlocks perks which include access to free Stakes as well as a monthly quota of points-to-tokens redemption which grows with each achieved level.
The level-based monthly redemption disincentivizes farming activities, multi-accounting, and other common harmful behaviors in first-stage attempts of Web3 economies while rewarding those who are active and keep building their credibility and not just their follower count.
The mechanism is ultimately designed to maintain a stable supply-demand balance in the market while providing asymmetric upside to the early users for bootstrapping the network.
Advertising features will be rolled out in 2024. Brands and communities can purchase boosted visibility with points. Acquiring points in the app can be done by purchasing the native tokens from the market and converting them to off-chain points via the token partner entity as part of the ecosystem.
The NFT-gated communities can also be customized by the community to include a subscription and/or marketplace-type fee using points, in its further upgrades in Q1-2024.