Levels & Cred

Updated: 01-Jul-2024

To address and mitigate one of the largest issues in both web2 social media platforms and crypto projects alike - botting and multi-accounting - Phaver has rolled out a credibility system that helps to curb multi-accounting and other actions that are harmful to both (i) the user experience and (ii) tokenomics. All levels are voluntary and every user enters at Level 1. L1 already allows for full access to the social perks of Phaver, but won't allow actions like casting points or claiming token rewards. Also, L1 users won't be part of Phaver tokenomics directly because they won't receive any daily Phaves.

By the end of Q2 2024, over 250,000 wallets with a total value exceeding $200 million have been connected to Phaver Cred and the level of unique profiles in levels 3-4-5 is 99.9%.

Cred Score will allow you to level up in Phaver to receive multiple perks and a badge next to your username.

Level Perks include in-app benefits such as more Phaves and visibility, premium content, unlocking features, advertising as well as upcoming exchanging capped monthly amounts of Points for tokens. Users with higher level and cred have also partner benefits such as participation in partner whitelists. For example, Phaver users level 2-3-4 were auto-qualifying to mint a free Lens handle, Farcaster profile and Moca ID handle.

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 5 Phaves 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 and across Web3. L3 perks include higher amounts of everything: free 10 Phaves, visibility, redeemable tokens, etc.

• Level 4: Less than 1% of users reach Level 4, 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. It gives 20 free Phaves per day.

• Level 5: The ultimate whale tier. Only the most credible users can reach Level 5 that comes with 40 free Phaves and some special benefits for reward redemption.