Web3 Social New Star Phaver: The Bridge Connecting Web2 and Web3

In today's Web2 world, our lives are dominated by big data: flight prices rise based on browsing frequency, shopping ads are frequently pushed, and social media is filled with repetitive and boring content. As users, we have handed over data control to internet giants, who use this data to label us and strive to monetize it.

Phaver emerges with the positioning of "Web2.5", aiming to change this situation. It allows users to have complete control over their data and profit from it while breaking down the barriers between the Web2 and Web3 worlds. Users can smoothly enter the Web3 world using common Web2 login methods, such as email or Google accounts, without the need for a wallet. Phaver hopes to attract more users, including non-Web3 natives, to experience a decentralized, data-autonomous, and privacy-protecting internet environment.

As a super social graph in the Web3 world, Phaver is the only social application that allows cross-posting while integrating both the Lens Protocol and Farcaster protocol. It has created the Phaver Point system, similar to airline mileage rewards, encouraging community participation and creation through gamification. Additionally, the Phaver Cred reputation score system not only effectively prevents bots, fake accounts, and score manipulation but also provides practical value for assets such as NFTs held by users.

Phaver's data performance is remarkable. Its daily active users reach 41k, and the daily push volume after bot filtering is 27k. It is the largest application on the Lens Protocol in terms of daily active users and posting volume, accounting for 46% of the daily posting volume. On Farcaster, Phaver has become the largest external application, contributing 40% of the daily active users. Currently, the wallet assets connected by Phaver's active users exceed $200 million, the app download volume has reached 350,000, and the social media follower count is 300,000.

Token Economics and Airdrops

The total supply of Phaver's token $SOCIAL is 10 billion, making it the first social token to be listed on a centralized exchange. As a leading multi-protocol social application, Phaver has attracted numerous high-profile partners, offering many future benefits to $SOCIAL holders.

The official announcement has stated that the first season airdrop will begin, accounting for 3% of the total circulation. Each user can receive up to 100,000 $SOCIAL, which will be fully unlocked upon listing. Users can exchange Points for $SOCIAL tokens, with the exchange rate improving as Cred levels increase. To achieve a 1:1 exchange rate, one must reach Cred L5 level, possess a Creator badge, or hold a Phaver-Up NFT.

The current floor price of Phaver-Up NFT is approximately $1170. The official statement indicates that each Phaver-Up can earn 300 Points and 50 Cred daily, and encourages users to hold NFTs with higher rarity, with relevant benefits to be announced during the second quarter airdrop.

In the token allocation plan, community rewards account for 27%, which will be gradually released over the next five years. The development team accounts for 18%, including a 1-year lock-up period and 4 years of linear release. Airdrops account for 3%, mainly based on user levels and point distribution, with special contribution users potentially receiving additional rewards.

Phaver's Gamified Incentive System

Phaver Cred

To reduce the quantity of fake interactions and manipulation on social platforms, Phaver has innovatively established the Phaver Cred reputation score mechanism. This is a reputation rating based on the user’s on-chain assets, which determines the user’s level and privileges within the application. Cred is updated every 30 days, and users can earn Cred by linking NFTs and maintaining activity to sustain their level.

Phaver Cred is divided into 5 levels, each with corresponding benefits and privileges. From the basic features of L1 to daily 40 free staking points and hidden benefits of L5, users can gain more rights and exposure opportunities by upgrading their levels.

Point reward system and content staking mechanism

The Phaver Point reward system allows users to earn creative rewards while enjoying a comfortable and free experience. Users can earn points through daily staking, creating content, and inviting new users, which can be used to increase post visibility or redeem for tokens.

Through regular updates of the Cred system and token exchange incentives of the Point system, Phaver encourages users to remain active and participate in community building in a gamified way.

Team Background and Financing Situation

The founding team of Phaver has complementary professional backgrounds, covering extensive experience in social media, gamification, finance, and cryptocurrency. The company currently has 28 employees and supports multiple languages, which helps to expand into the global market.

In October 2023, Phaver completed a $7 million seed round financing, with investors including well-known institutions such as Polygon Ventures and Nomad Capital. To date, Phaver has raised over $8 million in funding, with a valuation of approximately $80 million.

Conclusion

Phaver, as an emerging Web3 social platform, successfully combines the convenience of traditional social networks with the advantages of decentralized technology through its unique "Web2.5" concept and powerful economic incentive mechanisms. Its multilingual support and global team configuration enable it to quickly enter multiple key markets. With the development of Web3 technology and the increasing demand for decentralized social interactions from users, Phaver is expected to become an important bridge connecting the Web2 and Web3 worlds, occupying a significant position in the SocialFi space.