Phaver Tokens

Updated: 04-Apr-2024

Earning Phaver Tokens

  • Tokens can not be earned directly inside Phaver, but Phaver Points can be redeemed for Tokens at a later announced redemption rate for users with Level 2 and higher

    • Note: The FX rate of Points to Tokens is not necessarily 1:1, as it is dependent on various factors, and can vary

  • Higher level in the Level allows for higher amount of points withdrawn to tokens in the early months

  • Larger and contractual allocations of the token such as core team and investors are subject to pre-agreed vesting periods and cliffs to ensure long-term alignment and value creation for the platform and its users

Token holding benefits

  • The amount of Tokens held in any wallets connected to one's profile will impact the Cred score and therefore the Level of the user, allowing for higher withdrawal quotas

  • Higher levels will also be eligible for various other perks now and in the future such as VIP support, preferential visibility, and early access to features or whitelists

  • Share of Phaver tokens also determines the weight of a user's votes in any referendums or elections held either by the app or the token DAO structure to gather user preferences and as part of progressive decentralization

Using Phaver Tokens

  • For brands and projects, buying and using Phaver Tokens will always be the cheapest way to access any advertising, boosting, and collaboration features, but for those who prefer fiat payments there will be a buyback mechanism that ensures a share of the fiat revenue will also flow into token demand

  • As a user, Tokens can also be used to increase Points balance, in cases where the user does not have enough Points and wishes to avoid the additional payment fees of in-app purchases

  • The token-to-point price is more affordable (than in-app payment options), but can be further subsidized to drive additional token demand for example in specific brand/event campaigns that incentivize higher conversion sums for a lower price

  • Any NFTs launched by Phaver will also initially be mintable only with Phaver Points or Tokens, where priority for high-demand mints can be given to wallets that have held the tokens for a longer period to reward loyalty

Note: The ecosystem partner (token issuer) independent of the app rewards or grants other advantages (such as but not limited to tokens or cryptoassets) in return for Phaver points, but all such other user rewards in the platform are provided by the token issuer. It is important to understand that (save for the Phaver points) the app itself does not have the possession, custody, or control over any tokens or other crypto assets that may be provided by our third-party service providers appearing on the Platform nor over any user’s other funds. Further, the Phaver app does not store, send, or receive any tokens or other cryptoassets. You understand that when you interact with the Platform, you always retain control over your tokens and other crypto assets.

Last updated