Phaver (SOCIAL): The Key to Preserving Your Social Legacy

The internet has made it possible (and easy) to digitally share our social lives and content. Through Web 2.0 social networks, you can conveniently stay in touch with your connections, including family, friends, work colleagues and other life acquaintances. However, despite the convenience and the value these networks bring, most of them seriously infringe upon your privacy, with harvested data from your profiles and browsing history being used unethically — and without your permission.

Furthermore, most of our social history remains fragmented across our many social media channels, since we can’t move our old social profiles to a new one on another platform. This results in a loss of important social connections and precious social content that holds sentimental value — and you'll have to start from scratch if you want to rebuild your digital credibility. 

Phaver aims to change all this by empowering us with the ability to preserve our social history, even as we switch channels. It’s a forward-thinking web3 social platform that introduces an innovative approach to help you create and fully own a portable social graph through NFTs, and Phaver rewards you based on the quality of your social content.

Let's examine how Phaver uses an on-chain and off-chain approach to provide a rich and fulfilling social life.

Key Takeaways:

• Phaver is a web3 social app designed to let users create and own portable social graphs in a decentralized way.

• The platform has integrated with other social networks, such as Lens Protocol and Farcaster, to further enhance user experience in its ecosystem.

• Phaver’s utility token, SOCIAL, can be bought on Bybit as a Spot pair (SOCIAL/USDT).

What Is Phaver?

Phaver is a web3 multi-protocol social app that allows you to create a permissionless and noncustodial social graph through an innovative hybrid ecosystem that combines on-chain and off-chain mechanisms.

Through this gamified social app, users can cultivate their social reputations in a decentralized way, and receive rewards in the form of points for their constructive efforts on the platform. Launched in May 2022 by Joonatan Lintala (CEO) and Tomi Fyrqvist (CFO), Phaver's broad vision is to create more user-owned social networks through strategic partnerships, and by leveraging blockchain technology.

To enhance usability and scalability, the Phaver team has integrated social media DApps, such as Lens Protocol and Farcaster, which allow users to share posts on these blockchain-powered networks. Additionally, you can showcase your social content, earn NFTs and accumulate Points/Cred in the process.

Unlike some profit-centered, centralized and proprietary Web 2.0 socials, Phaver's user-centric structure embraces progressive decentralization and focuses on maximum utility, rather than maximum engagement. Better yet, you can port your social history via the platform, which helps you retain your social content.

At the heart of Phaver’s gamified ecosystem is the SOCIAL token, which provides accessibility to the platform’s in-app features and mechanisms. 

Source: Phaver

How Does Phaver Work?

As a gamified social network, Phaver utilizes a two-pronged reward mechanism consisting of Points and Cred, which ensures rewards seamlessly flow to genuine, high-value contributors. The next section explains some mechanisms that Phaver’s platform uses.

Phaver Points

Phaver Points act like a currency in the Phaver ecosystem. They’re redeemable for tokens, and can unlock various rewards on the platform. You can earn Phaver Points in the following ways:

• Create social posts

• Curate posts by casting (voting) Daily Phaves (for users on Level 2 and above); you’ll receive a certain number of Points if a post you’ve chosen is trending that day

• Through referral rewards, where you can get 1,000 Points for you and your referee, who reaches Level 2+

Apart from Phaver Points being converted into tokens on TGE, you can cast the Points on your post to boost visibility and appear on Recommended Feeds. In the future, Points will be the currency that unlocks premium content through subscriptions.

Levels & Cred

Phaver uses a Levels and Cred system to mitigate the challenges of botting and multi-accounting. Phaver Cred represents your level on the Phaver system and determines your rewards. With Phaver Cred, you can build your web3 digital reputation, earn a yield on your NFTs and claim token rewards.

Upon entry into Phaver, you'll automatically be placed in Level 1, where you can access all of the social perks on the platform, but can't cast Phaves (Points) or claim token rewards. As your Cred score increases, you’ll level up to unlock a wide range of perks, including better visibility and premium features. The maximum level you can reach is Level 4, typically only achievable by top-tier KOLs and web3 super users.

As part of the Cred system, Phaver has introduced Cred Pass NFTs as a way to level up faster and unlock more benefits. Minting of Season One of these 9,307 utility-rich NFTs was held on Sep 19, 2024 via OpenSea.

Source: opensea.io

Phaver Creator Program

Phaver incentivizes content creators by giving them full ownership over their work. The program is designed for a wide range of creators, such as musicians, visual artists, video creators, gamers, comedians and analysts. Through Phaver, these creators can monetize their work and also receive exclusive perks. There are over 100 participants in the program, with a growing number of applications already in the screening process.

Phaver App Key Features

Partnerships and collaborating with the community are an integral part of the Phaver ecosystem. In line with its vision to provide a decentralized social experience across networks, Phaver has integrated the following protocols on its platform.

Phaver Integrations

Lens Protocol

Lens Protocol is an open social network that uses NFTs to let you create profiles and content on-chain. This ensures you own your social graph, and can switch seamlessly across profiles. By integrating with Lens, Phaver has unlocked the ability for its users to connect with Lens Protocol’s users off-chain without needing a wallet. As a Lens user, you can post on Phaver and decide whether you want it broadcast across the Lens network.

Some of the core features on Lens that are supported on Phaver include the following:

• Profiles showing your followers and posts, which are stored and authenticated with a Polygon-based wallet

• NFT-powered follows

• Attachment of created posts on-chain

Farcaster

Farcaster is a decentralized social network that lets you own your social identity and data with features such as posting, mirroring (an action similar to X's "retweeting" function), channels and frames (interactive apps). Phaver integrated with Farcaster in March 2024, unlocking the following functionalities for users:

• Free minting of Farcaster profiles from Phaver

• Posting across both protocols

• Cross-protocol liking, quoting, commenting and mirroring on Farcaster from Phaver

• Other cross-protocol functionalities, such as following, supporting frames and indexing

Mocaverse

Mocaverse is a creation of Animoca Brands that uses a decentralized identity, Moca ID, to digitally access the company's extensive portfolio, which includes over 450 companies. Following Mocaverse's integration with Phaver, users can free-mint their Moca ID on the platform and use it as proof of identity to participate in various activities and accumulate reputation points.

Cyber

In its early days, Phaver integrated Cyber (CyberConnect) into its network. CyberConnect, a Layer 2 social protocol on Ethereum (ETH), built CyberAccounts, a smart contract–compatible wallet solution that helps simplify onboarding into web3 and facilitates the creation of decentralized digital identities through NFTs. This integration allows users to link their CyberAccounts to their Phaver profiles.

Sharing Content

Phaver aims to create a multi-protocol incentivized ecosystem for sharing content. With Phaver, you can access multiple social graphs simultaneously and get rewarded for creating/curating good content. Once you post, you have control over which audience can access the posts, either those on Phaver only or across its integrated networks, such as Lens Protocol.

You can also choose in which Phaver community you want to post when sharing content. This segmentation helps to improve engagement, since your posts are featured on feeds of others with similar interests.

Depending upon your level, you'll receive a certain number of “Phaves” that you can cast on your favorite posts (Phaves are similar to Likes on Web 2.0 social media platforms). Top-performing Phavers receive Phaver Points, which can be converted into tokens. You can also mirror posts: the poster who created the original post will earn the Phaves received on the mirrored posts.

You can also boost your posts’ visibility by purchasing Premium or Superior posts. This upgrade earns you a dedicated feeds filter that helps you quickly build an on-chain audience.

Discovering Content

Phaver believes discovering content on its platform should be user-optimized and incentivized for a more fulfilling experience. To achieve this goal, users get to choose what to follow, since every piece of content is shared within a topic based on the most relevant feed. Phaver has a Discovery tab that lets you search for a specific person. To ensure high-quality content is posted, Phaver has a Post Staking feature, which allows those on Level 2 and above to cast on their favorite posts.

What Is the Phaver Crypto Token (SOCIAL)?

Phavercoin (SOCIAL) is the native token for Phaver. Holding SOCIAL earns you Creds and Points that can be converted into tokens during special campaigns. It also increases your monthly withdrawal quotas, and if you’re at a higher level, holding SOCIAL unlocks exclusive perks, such as whitelists and VIP support.

SOCIAL has various utilities on Phaver. The token can be used by brands and projects to pay for advertising, collaborations and boosting posts. Users can also use SOCIAL to buy Points to boost their visibility.

Phaver (SOCIAL) Tokenomics

SOCIAL’s total supply is capped at 10 billion tokens. In the future, Phaver plans to implement a quarterly token burn, which will help reduce the amount of tokens in supply and retain SOCIAL's value. SOCIAL’s token distribution is as follows:

• 25% — User rewards

• 25% — Private sales

• 22% — Community and Treasury

• 18% — Founding and dev team (with 1-year cliff and 4-year vesting period)

• 4% — Partnerships

• 4% — S1 Airdrop (more on this below)

• 2% — Advisors

Phaver token distribution. Source: Phaver

Phaver (SOCIAL) Airdrop

Phaver is holding its Season 1 airdrop, Phairdrop, in which 4% of its token supply will go to eligible participants. To qualify, a user must:

• have a Lens profile

• connect their Farcaster profile to Phaver

• be on Level 2 and above

You can check eligibility for the SOCIAL airdrop on Phaver’s official site. The token airdrop ratios (based on Points) are as shown below:

Where to Buy Phaver (SOCIAL)

You can buy SOCIAL on the Bybit exchange as a Spot pair (SOCIAL/USDT). To celebrate this listing, Bybit is holding a Launchpool event through Oct 1, 2024, 10AM UTC. Staking USDT, SOCIAL or MNT will help you earn a share of the 90,000,000 SOCIAL tokens in the reward pool. To participate, you'll need to stake either of these three tokens in the Bybit Launchpool to earn a daily yield that will be calculated the next day. VIP users who participate in the event will earn additional APR rewards.

Bybit is also holding a SOCIAL token splash event through Oct 8, 2024, 8:59AM UTC, in which 7,000,000 SOCIAL tokens are up for grabs. To earn these tokens, you can deposit and complete tasks on the deposit page (see above link).

Closing Thoughts

As privacy and ownership of data continue to challenge internet users, Phaver provides an innovative approach to connecting on social media that not only gives you control over your content, but also rewards you for it. With strategic integrations to other social networks such as Lens Protocol and Farcaster, Phaver offers a seamless, cross-platform experience while preserving your social history. Powered by its utility token, SOCIAL, Phaver is leading the charge toward a more transparent, user-centric future for social media, offering a rewarding alternative to traditional networks.

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