Web3 social pioneer Phaver $SOCIAL may usher in a surge of 12 to 29 times!
远山洞见2024/09/24 10:50
By:远山洞见
I. Project introduction
Phaver is an innovative application for Web3 social networks, designed for decentralized and unmanaged internet ecosystems. As a pioneer of the next generation of social networks, Phaver helps users share and interact with content in decentralized networks by supporting various Web3 protocols such as Lens and Farcaster. The platform's upcoming native token $SOCIAL will become an important part of its core ecosystem, providing incentives for users to create, interact, and participate on the platform.
Phaver was launched on the Lens protocol mainnet in May 2022, marking the birth of its "Web2.5" mobile application. The application lowers the threshold for using Web3, allowing users to register through familiar Web2 login methods without immediately configuring wallets, gradually guiding users to transition to the Web3 environment. As of September 2023, Phaver has successfully attracted more than 250,000 users and has become the most important mobile application on the Lens protocol, with a huge user base. In addition, Phaver also supports the Farcaster platform, becoming one of the most important third-party apps in the ecosystem. Currently, Phaver has connected more than 250,000 wallets, with a total asset value of over $200 million, and provides users with reputation management and point accumulation functions through its Cred system.
As an early pioneer of Web3 social networking, Phaver not only provides a blockchain-based social graph, but also rewards users' contributions through a points system. In the future, the points accumulated by users will be converted into $SOCIAL tokens through token generation events (TGE), allowing users to obtain more income and opportunities both inside and outside the platform.
II. Project highlights
1. Multi-protocol support and cross-chain interaction
Phaver supports multiple Web3 protocols, such as Lens protocol and Farcaster, allowing users to publish and share content on different chains. This multi-protocol compatibility not only breaks down the barriers of different social platforms, but also allows users to cover multiple decentralized network audiences through one application. Phaver's cross-chain interaction function provides users with a wider range of social connections and more diverse ways of interaction, enhancing the platform's attractiveness.
2. User-friendly Web3 experience
Phaver greatly simplifies the usage process of Web3 through Web2.5 design. Users can easily register through email or social media accounts, just like using traditional Web2 applications, without the need to immediately configure a blockchain wallet. This progressive guidance method helps users gradually enter the Web3 environment, making it easy for beginners to get started, reducing the threshold of Web3 technical complexity, and promoting user growth.
3. On-chain social graph and data ownership
Phaver builds an on-chain social graph based on NFTs, giving users complete ownership and control over their social data. Users' social relationships and interactive content will be permanently recorded on the blockchain, ensuring immutability and can be transferred between different platforms at any time. This decentralized social network model gives users true ownership of digital assets and is no longer limited by the data control of centralized platforms.
4. Native Token $SOCIAL and Incentive Mechanism
Phaver's $SOCIAL token is the core incentive tool of the platform. Users can earn token rewards by publishing high-quality content, participating in interactions and community activities. Phaver's point system allows users to accumulate points, which will be converted into $SOCIAL tokens in future token generation events (TGE), giving users actual economic returns. Through this Incentive Mechanism, Phaver encourages users to actively contribute and improve the quality of the platform's content, while bringing economic benefits to users' participation in the Web3 social network.
III. Market value expectations
Phaver ($SOCIAL), as a social pioneer in the Web3 field, is not only an application that supports decentralized network interaction, but also provides users with a platform that truly controls personal data and content. In the era of Web2 social giants monopolizing user data, Phaver implements the concept of decentralization through multiple Web3 protocols such as Lens protocol and Farcaster. This means that users can freely publish, interact, and truly own their own social graph and data without worrying about platform censorship or data abuse. Unlike many Web3 applications, Phaver's Web2.5 design allows users to easily get started and gradually transition from traditional Web2 environments to Web3. Combining its active community of more than 250,000 users, user asset value of more than $200 million, and token rewards converted through a points system, Phaver demonstrates its advantages in the Web3 social track.
Phaver ($SOCIAL) is about to release 9.8% of its tokens on TGE, totaling
980,000,000 tokens . Based on the overall valuation
of $80 million , the circulating market value released by TGE is expected to be
$7.84 million . Combining the current project scale and development potential, we can estimate the market value potential of Phaver by benchmarking other Web3 social projects.
- MASK (Web3 portal project) : Circulating market cap 227 million USD .
- Cyber (Layer2 social project) : circulating market value of 6.54 million US dollars .
- UXLINK (Web3 Social System) : Circulating market capitalization of $93.6 million .
Assuming the market value of Phaver reaches the levels of MASK, Cyber, and UXLINK, the expected token price and increase are as follows:
- Benchmarking MASK : circulating market value 227 million US dollars , Phaver token price is about 0.23 US dollars , an increase of 29 times .
- Benchmark Cyber : circulation market value of $6.54 million , Phaver token price is about $0.0067 , an increase of 0.86 times .
- Benchmarking UXLINK : circulating market value of $93.6 million , Phaver token price is about $0.095 , an increase of 12 times .
Through these benchmarks, it can be seen that Phaver has significant potential in the Web3 social field, especially as more and more users realize the value of decentralized social platforms. Phaver is expected to become a leader in this field. Combined with its upcoming $SOCIAL token Incentive Mechanism and huge user base, Phaver's market value may see huge upward potential in the future, bringing rich returns to early users and investors.
IV. Economic model
Phaver's economic model revolves around its native token $SOCIAL, with a total supply of 10,000,000,000 tokens. The distribution of $SOCIAL involves multiple stakeholders, including early investors, community users, teams, and ecosystem partners. The following are the key distribution details and release mechanisms.
1. Token distribution
User rewards/community: accounting for 25% of the total token amount, used to motivate users to be active and participate on the platform. This part of the token will be gradually distributed during the platform's development process, aiming to encourage long-term participation and content creation.
Ecosystem/Treasury: Accounting for 18.6% of the total tokens, this part of the tokens is mainly used to support the continuous development of the ecosystem and platform maintenance, with an initial release of 2%.
Team: 18% of the total supply, this part of the tokens is reserved for the core team to incentivize the team's long-term contributions, and no shares have been released yet.
Seed round investors: including multiple early investor rounds, such as the early seed round in 2022 (13.3%) and the seed round in 2023 (3.79%). Currently, these tokens have not yet started to be released.
-Season 1 Airdrop: 4% of the total tokens will be released immediately after the TGE (Token Generation Event) and distributed to eligible users.
Airdrop and User Rewards Phaver rewards users' contributions through a points system. Every 1000 points will be exchanged for different amounts of $SOCIAL tokens based on user qualifications. Rewards are divided according to user levels and badges, and are specifically divided into the following levels:
Every 1000 points = 1000 $SOCIAL: Applicable to level 5 users who hold Phaver-Up NFTs or join the Creator Program.
Every 1000 points = $600 SOCIAL: Applicable to level 4 users with verification badges.
Every 1000 points = $400 SOCIAL: Applicable to level 3 users holding Farcaster Power Badge.
Every 1000 points = 200 $SOCIAL: applicable to level 2 users. The total amount of tokens for all Season 1 airdrops is capped at 110,000 $SOCIAL per user, and the airdrops will be fully unlocked upon launch.
TGE (Token Generation Event) Phaver will release 9.8% of the total supply, or 980,000,000 $SOCIAL tokens, during the Token Generation Event (TGE). This release will include airdrop tokens, liquidity, and token distribution for some ecology and marketing. Users will withdraw points from the monthly quota after TGE and exchange them for tokens. The specific exchange rate will be based on the user's level and the amount of $SOCIAL held in the wallet.
During the liquidity and marketing TGE, 2.5% of the tokens will be released for liquidity management and market making to ensure smooth trading. In addition, 1.3% of the tokens will be used for CEX marketing and start-up capital pool, further promoting the market acceptance and liquidity of the tokens.
Through this structured token distribution and release mechanism, Phaver aims to incentivize customer engagement and promote the development of the ecosystem in the long term, while ensuring the continuous growth and operational stability of the platform.
V. Team and financing
1. The core team of Phaver is composed of experienced Subject-Matter Experts with rich backgrounds in Web3 and traditional technology fields.
Joonatan Lintala - CEO, Co-founder
Formerly led the global sales team at
Smartly.io , helping it become the world's leading social advertising tool platform. Started at Google and currently serves as a consultant for Shook Digital and Pomar.
Tomi Fyrqvist - Ecosystem CFO, Co-founder
Previously worked at Goldman Sachs and AXA Ventures, responsible for the global business development of Alibaba's Daraz.
-Carlo Hyvönen - CTO, Co-founder
Previously worked as a lead developer at Veikkaus, with extensive experience in Machine Learning and full stack development.
Tom Hämäläinen - Head of Analytics, Co-founder
Co-founder of Coinmotion, the largest crypto Payment service provider in Finland, with experience in smart contract development.
2. The financing situation
Phaver completed a $7 million seed round financing on October 5, 2023, with participation from top institutions such as P2 Ventures, Nomad Capital, and Foresight Ventures, as well as individual investors Sandeep Nailwal, Dorothy Liu, and others. The funds will be used for further development and global expansion of the platform.
VI. Risk Warning
1. The crypto market itself is highly volatile, and the price of tokens may be influenced by market sentiment, overall economic conditions, and competitor activities, leading to price fluctuations.
2. The Web3 social field is currently highly competitive, and Phaver is facing competition from other decentralized social platforms such as Lens and Farcaster. If the platform cannot continue to innovate and attract users, it may lose market share.
VII. Official link
Website :
https://phaver.com/
Twitter:
https://x.com/phaverapp
Telegram:
https://t.me/phaverdao
1
2
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Is MicroStrategy a bubble? What is the risk for Bitcoin’s price?
Cointelegraph•2024/11/21 18:45
US Bitcoin ETF assets break $100 billion
Cointelegraph•2024/11/21 18:45
Bitcoin is about to break 100,000 dollars, while altcoins are underwhelming
Market liquidity shows a trend of centralization, and the sentiment for crypto compliance still needs to be realized.
Chaincatcher•2024/11/21 12:00
TikTok Meme is here: After spending a night watching videos, my account lost 50%
Can TikTok serve as a traffic hub to attract a large number of Web2 users into Web3?
Chaincatcher•2024/11/21 12:00
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$98,291.72
+4.18%
Ethereum
ETH
$3,353.14
+9.07%
Tether USDt
USDT
$1
+0.05%
Solana
SOL
$254.69
+8.25%
BNB
BNB
$622.51
+2.15%
XRP
XRP
$1.18
+8.00%
Dogecoin
DOGE
$0.3871
+2.53%
USDC
USDC
$1
+0.03%
Cardano
ADA
$0.7914
-1.95%
TRON
TRX
$0.1991
+1.76%
Bitget pre-market
Buy or sell coins before they are listed, including ZRC, XION, OGC, MEMEFI, and more.
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new Bitgetters!
Sign up now