Phaver Points (off-chain)

Updated: 01-Jul-2024

Earning Phaver Points:

• Phaver points can be earned in-app or bought as in-app purchases (coming soon)

• Points are issued by the Phaver app while tokens are issued by partner company

There are three main ways to earn Points in the Phaver app:

1) Casting the Daily Phaves, which are available for Level 2+ users. Casting Phaves rewards the user if a post they chose early enough becomes trending that day. This gamified content discovery helps provide higher-quality input for the feed algorithms.

2) Receiving Phaves on your post or a mirror you made.

3) Referral Reward: inviting other users to join the app with each user's invite code (each user's username acts as an invite code). When the invited users reach Level 2, the inviter and the invitees are rewarded 1,000 points.

Using Phaver Points:

Casting Points on own posts for boosted visibility (Super Posts and Premium Posts)

The Phaves a post receives have a significant impact not only on the rewards but also on the visibility of the post in user's "Recommended" feeds, where higher Phaved content rises.

Subscribing to or unlocking Premium content (Coming soon)

In a Patreon/Substack style content creators can also define all or some of their content as gated premium material where the user needs to pay points to access it. This will allow a natural way for creators to monetize their most loyal fans without dividing to further platforms and will also help boost the demand for the tokens they earn in free posts since due to app store fees it will always be cheaper to buy points with Phaver tokens vs. in-app purchases.

Overview of Points Minted:

The selected period is after the launch of Phaving rewards in May 2024 - June 2024.

Overview of Points Burned:

The current Mint/Burn ratio is high to reward early users during the ecosystem growth stage.