Phaver, the leading multi-protocol Social app on Lens Protocol and Farcaster, has announced the much-anticipated launch of its token Phavercoin, carrying the easy-to-understand ticker $SOCIAL. With over half a million users, Phaver is the first mature app in the ecosystem to launch a native token. Premarket is now live on Aevo, with spot listings across exchanges next week.
Phaver’s native token $SOCIAL is designed to capture and redistribute value in a meritocratic manner to those who actually create it, the users. Phaver envisions a future where creators can natively monetize, and users are both owners and beneficiaries of their valuable social graph.
To combat the swarm of bots and multi-account farmers that often plague crypto projects and social apps alike - Phaver has validated all the Airdrop recipients based on a privacy-safe facial scan or the credibility of their wallet content, resulting in an audience of genuine users. And while the early adopters receive a 4% Phairdrop on Base during the TGE, an additional 25% of the token reserved for monthly Points-to-Tokens redemptions, ensuring both early users and newcomers remain engaged and fairly rewarded for their contributions.
Social media is one of the few clear value exchanges in the internet world: Creators, curators, and moderators create value for the audience, and the audience’s attention and admiration are also valuable. This means that, unlike many x-to-earn models, it’s actually possible to create a long-term sustainable token economy in SocialFi, which rewards those creating value and monetizes attention, premium content, and the desire for additional visibility or premium features in a way that can scale and prosper without the “ponzinomics” still prevalent in crypto, said Joonatan Lintala, CEO and co-founder of Phaver.
The $SOCIAL token will be tradeable on multiple exchanges such as Bybit, starting September 24th, with multiple launchpool opportunities to earn additional tokens. Phaver has also launched its second NFT collection, the Cred Passes, which are mintable on OpenSea until TGE, providing the most efficient way to reach and hold higher Levels on Phaver, unlocking more tokens in the monthly redemptions for next month and onwards.
Phaver’s unique approach to social media combines the best parts of Decentralised Social (DeSoc) and SocialFi. Phaver’s Supergraph enables free and seamless posting on both Lens and Farcaster, which, as decentralised protocols, help users to back up their social graph and content in places where they own it, ensuring they are never at the mercy of individuals, companies, or governments deleting their accounts. SocialFi, in turn, offers a novel way to gamify the experience,making it faster and easier to grow an audience, while fairly rewarding the best contributors with real value, not just exposure or Karma.
After building the DeSoc features and becoming the largest app on Lens and the largest 3rd party app on Farcaster, Phaver is doubling down on SocialFi following the token launch. Soon, users will enjoy gasless experiences using $SOCIAL inside the mobile app, featuring a built-in wallet for use cases such as tipping, gated content, gamified boosts, and item collection. Near-future updates also include a Web3-era ads model in partnership with Spindl, where users opt-in, get rewarded with Points, and can get a revenue share from sharing the Frames-based ads to their followers, privacy-safe wallet-based targeting and no invasive tracking. Furthermore, Phaver Perks will unlock numerous partner benefits from airdrops to discounts to Phaver’s validated users.
Phaver will also continue expanding the collection of native utility NFTs, which play a key role in the ecosystem and offer users ways to not only pay service fees, but also own and trade tangible assets that provide the same benefits.