Phavercoin Price

Phavercoin (SOCIAL) is the native token of Phaver, a decentralized social platform built on Web3 technology. Phaver allows users to earn tokens by sharing quality content and interacting with the platform. The token $SOCIAL rewards active users, enabling them to own part of the platform, similar to an early-stage investor.

Phaver integrates with decentralized protocols like Lens and Farcaster, ensuring users own and control their data. The platform encourages ethical monetization by rewarding content creators and curators without relying on invasive advertising methods.

You can use $SOCIAL tokens for various in-app activities, like boosting posts or accessing exclusive perks.

Phaver is a decentralized social platform where users can create, share, and earn from their content. It integrates with blockchain protocols like Lens and Farcaster, ensuring that you own and control your social data. When you share posts, they’re stored on the blockchain, giving you full ownership, unlike traditional platforms where companies own your content.

Phavercoin ($SOCIAL) is the platform’s native token. You earn $SOCIAL by actively contributing to the platform, such as sharing content or participating in staking. The more you engage, the more Phaver Points you can convert into tokens. Holding $SOCIAL provides perks like higher visibility for your posts and access to exclusive features.

Phaver rewards users through a gamified system where higher credibility and activity levels unlock greater rewards. The platform ensures fairness by preventing bots and multi-account farming through user validation.

Phaver was launched in May 2022, as part of the Lens Protocol mainnet launch. It is a decentralized social media app built to allow users to own their social graph and content. The platform integrates with Web3 protocols like Lens and Farcaster, enabling users to share and control their posts on the blockchain. The native token, Phavercoin ($SOCIAL), was introduced later to reward content creators and users for their contributions.

Phaver was co-founded by Joonatan Lintala (CEO), Tomi Fyrqvist (CFO), Carlo Hyvönen (CTO), and Tom Hämäläinen (CIO). These founders have diverse backgrounds, with experience in companies like Google, Goldman Sachs, and Coinmotion.

The platform's roadmap includes the launch of more decentralized features, integration with Web3 ads, and expanding its utility NFTs. $SOCIAL tokens will play a key role in these features, allowing users to boost posts, access gated content, and earn from their engagement.

Phavercoin ($SOCIAL) is used within the Phaver app to reward users for creating and curating content. Users earn $SOCIAL by converting Phaver Points, which are gained through activities like sharing content and engaging with the community. Holding $SOCIAL provides several benefits, including increased credibility (Cred score), access to VIP features, and higher monthly conversion limits for redeeming points into tokens.

The token is also used within the platform for advertising, boosting posts, and purchasing points at a lower cost than traditional in-app purchases. Phaver encourages user engagement through gamified mechanisms, and holding $SOCIAL unlocks exclusive perks such as preferential visibility and early access to features. 

You can also trade Phavercoin on the KuCoin spot market against other listed cryptocurrencies, but only after you DYOR. Based on your investment goals and risk tolerance, you can buy, sell, or HODL $SOCIAL in your portfolio.

Phavercoin ($SOCIAL) has a total supply of 10 billion tokens, with a structured allocation designed to promote user rewards and ecosystem development. Here's how the token distribution breaks down:

1. User Rewards and Airdrops: 28% of the total supply is set aside for rewarding users. This includes 25% allocated to long-term user rewards and another 3% for early airdrops. These tokens are distributed over time as users redeem Phaver Points for tokens.

2. Ecosystem Treasury: 22% of the tokens are reserved for the ecosystem treasury, which is used to support the development and growth of the Phaver platform. This could include partnerships, improvements to the app, and possibly token burns in the future.

3. Team Allocation: 18% of the supply is allocated to the founding team, with a vesting period that includes a 1-year cliff and 4 years of gradual vesting. This ensures that the team remains committed to the long-term success of the platform.

The Phavercoin airdrop, called "Phairdrop," is part of Phaver's initiative to reward its early users and contributors with $SOCIAL tokens. In Season 1, 3% of the total token supply was allocated to the Phairdrop. To qualify, users needed to meet certain criteria, such as holding a profile on Lens or Farcaster, reaching at least Level 2 in the Phaver app, and possibly owning NFTs connected to their account.

Once eligible, users could receive up to 110,000 $SOCIAL tokens based on their activity and level. For example, higher-level users and holders of special NFTs were rewarded more generously. After the token generation event (TGE), users can redeem their Phaver Points for $SOCIAL tokens in monthly quotas. Future seasons of Phairdrops are expected to continue rewarding active users.

For those eligible, claiming tokens happens on the Phaver platform, and gas fees may apply depending on the blockchain used.