Phaver Points (off-chain)
Updated: 01-Jul-2024
Last updated
Updated: 01-Jul-2024
Last updated
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.
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.
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.
