Phaver, a leading multi-protocol social application alongside Lens and Farcaster, has announced the highly anticipated Phavercoin token - $SOCIAL. With over 500,000 users, Phaver is the first mature application in the ecosystem to launch a native token. Currently, the token is available for presale on Aevo, and spot trading will be launched on multiple exchanges next Tuesday.

Phaver's $SOCIAL token aims to capture and redistribute value in a meritocratic manner, rewarding users who truly create value. Phaver's vision is for creators to achieve native monetization in the future, where users are both owners and beneficiaries of their valuable social networks.

To address the issue of bots and multi-account "farming" that plagues crypto projects and social applications, Phaver has conducted privacy-safe facial scans or reputation verification based on wallet content for all airdrop recipients, ensuring that rewards are given to genuine users. Early users will receive a 4% Phairdrop on Base during the TGE period, and an additional 25% of the tokens will be used for monthly Points-to-Tokens exchanges, ensuring that both early and new users can continue to participate and fairly receive rewards for their contributions.

Social media is one of the areas in the internet world where value exchange can be clearly conducted: creators, disseminators, and moderators create value for the audience, and the audience's attention and appreciation also hold value. Therefore, unlike many x-to-earn models, it is actually possible to create a sustainable token economy mechanism in SocialFi, rewarding those who create value, while tokenizing readership, quality content, and the demand for more exposure or advanced features, without relying on the "Ponzi economics" that exist in the crypto field, as stated by Phaver's CEO and co-founder Joonatan Lintala.

The $SOCIAL token will be available for trading on exchanges including Bybit starting from September 24, and there are multiple Launchpool opportunities to acquire more tokens. Phaver has also launched its second NFT series - Cred Passes, which can be minted on OpenSea and will continue until TGE, providing users with the most effective way to achieve and maintain higher levels on Phaver, unlocking more tokens every month in the future.

Phaver's social media methodology combines the essence of Decentralised Social (DeSoc) and SocialFi. Phaver's Supergraph allows users to post freely and seamlessly on Lens and Farcaster. As decentralized protocols, they help users back up their social networks and content, ensuring that users' social assets belong to themselves and are no longer threatened by the deletion of accounts by individuals, companies, or governments. Meanwhile, SocialFi provides a new way to gamify the experience, allowing users to expand their audience faster and easier, while fairly rewarding actual value to the best contributors, rather than just exposure.

After building DeSoc features and becoming the largest app on Lens and the largest third-party app on Farcaster, Phaver will double down on SocialFi after the token release. Soon, users will be able to use $SOCIAL in the mobile app for gas-free experiences, and the built-in wallet will be used for tipping, paid content, gamified upgrades, and item collection scenarios. Recent updates will also include a Web3-era advertising model in collaboration with Spindl, where users can choose to participate, earn Points rewards, and receive income sharing by sharing ads based on Frames (Farcaster protocol-based plugins), with secure wallet positioning and non-intrusive tracking. In addition, Phaver Perks will unlock various partner benefits for verified users, including airdrops and discounts.

Phaver will also continue to expand its collection of native utility NFTs, which play a critical role in the ecosystem, providing users with a way to not only pay for services but also own and trade tangible assets that bring the same rights.

For more information, please visit www.phaver.com to download the mobile app and start using it, and participate in the second season Phairdrop in October.

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