Phaver, a social media app, has launched its Phavercoin (SOCIAL) token and initiated the Phairdrop event, marking its transition to a token-powered decentralized social ecosystem. The SOCIAL token is currently trading at $0.0148 with a market cap of $146 million and has a total supply of 10 billion tokens. The distribution of tokens involves various methods, including users receiving tokens directly in their Phaver Primary Wallet and claiming tokens on the Phaver website with Base ETH for gas fees.
Trading of the SOCIAL token has commenced on multiple exchanges, including Bybit and MEXC, with the token issued on the Base network. The utility of the SOCIAL token within the Phaver ecosystem is extensive, with users earning tokens by redeeming Phaver Points in unique campaigns. Higher Cred levels unlock benefits such as increased monthly withdrawal quotas, VIP support, and early access to new features and whitelists.
The tokenomics of the SOCIAL token reveal that 3% of the total supply is allocated for user airdrops, while 2% is set aside for Season 2 redemptions. Eligibility for redemptions depends on user levels and the conversion ratio is influenced by the user’s Cred level and average SOCIAL holdings over 30 days before redemption, potentially offering up to a 60x multiplier. Phaver’s platform integrates with Lens Protocol and Farcaster Protocol, enhancing user experience across decentralized social networks.
Holding SOCIAL tokens may provide access to future opportunities, including whitelists, airdrops, and benefits from Phaver’s partners such as Animoca, Pudgy Penguins, and Rakuten Group. By encouraging users to hold tokens, Phaver aims to foster a sustainable ecosystem that rewards long-term engagement and supports the token’s value over time. Users and investors are advised to stay informed through official channels for updates on token distribution, exchange listings, and platform developments.
As Phaver enters this new phase with the launch of the SOCIAL token, users are encouraged to participate in the ecosystem and benefit from the various utilities and opportunities offered by the token. With its transition to a token-powered decentralized social ecosystem, Phaver aims to create a vibrant community that rewards engagement and fosters growth. Stay informed through official channels and be wary of scams to ensure a positive experience with the SOCIAL token and the Phaver platform.
