What is Phaver? Phaver Cryptocurrency Overview

What is Phaver? Phaver is a Web3 social networking application and is built on Lens Protocol. At Phaver, users can post articles, images, etc. So how does Phaver work? What’s different about this platform? Find out with the Weakhand team below in this article

To understand more about Phaver, you can read the following articles:

• What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
• What is Web3? Advantages & Disadvantages of Web3
• What is Lens Protocol (LENS)? Lens Protocol Cryptocurrency Overview

Phaver Overview

What is Phaver?

Phaver is a Web3 social networking application platform, built and supported by Lens Protocol as well CyberConnect. Phaver is an App version of Twitter on phones. After downloading the application and setting up a profile, users can share content in the form of text, images, videos, etc.

Here users can also register and log in with Gmail, Facebook and have a profile link card with a domain name on Lens or CyberConnect.

Phaver is designed to help users increase their reputation on decentralized social networks. The platform will reward constructive users of the platform with off-chain points, which will then be converted into project tokens.

Mechanism of action

Phaver is the largest mobile application on the Lens Protocol, allowing users to connect Phaver profiles to their Lens. The Lens protocol uses NFTs to create online relationships between profiles, followers, and posts. It is understood that users own their data and can use it interactively with any Lens application.

When Lens users create a post in Phaver, they can decide whether they want to broadcast it live on Lens or just post it on Phaver. Lens posts are on-chain and cannot be changed, but Phaver posts can be edited and deleted. On these two occasions, users earned bonus points that their posts received on Phaver.

Core features Phaver supports include:

• User profile
• Followers
• Post
• Comment and share the article

Share and manage content

Phaver aims to make feeds and feeds relevant to all users. This can be achieved by granting simultaneous access to personal data and other social platforms as rewards to users who create, manage and moderate content.

• Content object: Users can choose posts to be only for their followers or for everyone on Lens.
• Premium themes: To facilitate quality content in topics, some of them will be designated as premium.
• Posting mechanism: Platform support on iOS and Android. Just click the share button on any app.
• Posting rewards: Level 2 users will receive 5 stakes, which are used on the user’s 5 favorite posts of the day. Level 3 and 4 users get 10 and 20 points respectively. Those who bet on posts to trend before others will also be rewarded.
• Mirroring: Lens’ version of Retweet, Mirroring allows sharing someone else’s post as your own for their followers.
• Post visibility boosting: In the near future users will be able to stake money and use their own tokens to stake their posts for added visibility in other people’s feeds.

How to make money in Phaver

Users can earn points on Phaver by sharing content, curating the best posts over time by spreading points, or inviting more participants.

In the near future, users will be able to accumulate points on their own posts in exchange for Phaver Tokens. Users will need to meet certain criteria to minimize fraudulent activities and multiple account usage.

Phaver Cred determines the user level within the app, which unlocks perks including access as well as a monthly token exchange limit that increases with each level.

Development Roadmap

Phaver’s development roadmap will be as follows:

Q3-2023 – Q4-2023

• Supports Lens Protocol V2.
• Supports Binance Smart Chain assets such as W3ST, SpaceID.
• Automatically detect and filter languages.
• First localized app version for Japan, Korea, China and Turkey.
• Multi-protocol direct messaging with XMTP.
• Login and register with Lens.
• The Phaver community has an NFT portal, privacy settings, and community-level moderation.
• Move from Topics to Hashtags.
• Improved Stake mechanism, Channel your higher daily earnings into discovering the best posts through Stake.

2024

• Fully supports Social Grap CyberConnect.
• Phaver Supergraph serves quality considered content from all the major Web3 graphs in one.
• The Phaver Perks portal unlocks in-app whitelisting, airdrops, and other benefits for premium users and holders of certain NFTs.
• The first self-serve advertising feature.
• Simplify account registration for easier universal adoption.

Investor

The project successfully raised $8.6M through 3 funding rounds:

• March 10, 2020: The project successfully called for $1.29M in Seed Round from Superhero Capital investment fund.
• March 20, 2020: The project continues to successfully call for $275K in Angel Round, this round does not announce investors.
• October 5, 2023: Most recently, the project continued to successfully call for $7M in Seed Round from 19 investors.

Core Team

Joonatan Lintala: Co Founder & CEO

• 2012 – 2014: Joonatan Lentala started his career at Google.
• 2014 – 2019: Joonatan built and led global sales teams for Smartly.io, including opening the US market with 3 years working in New York with the world’s largest advertisers and Grow into a global market leader in paid social media advertising tools
• 2012 to present: Joonatan is a board advisor at Pomar (shoe brand) and Shook Digital (TikTok marketing partner).
• 2019 to present: Joonatan and his associates founded Phaver and hold the position of CEO.

Tomi Fyrqvist: Co Founder & CFO

• Tomi tPreviously also served as a fundraising and strategy development advisor to various crypto companies raising a $25 million Series A round as a private advisor.
• 2012 – 2016: Tomi started her career in investment banking at Goldman Sachs.
• 2016 – 2018: Tomi acted as an investor at AVP.
• 2018 – 2019: Tomi is director of Alibaba Group.
• 2019 to present: Tomi and his partners founded Phaver and hold the position of CFO.

Carlo Hyvonen:Co Founder & CTO

• Carlo has been a senior full-stack developer for over 10 years.
• 2014 – 2020: Carlo works at Veikkaus as Lead Developer, incl. Machine learning efforts. Build a recommendation system that includes more than 2 million customers.
• 2019 to present: Carlo and his colleagues founded Phaver and hold the position of CTO.

Tom Hämäläinen: Co Founder & Head of Analytics

• Tom used to be Co – Founder & Chairman of the board of Coinmotion. Coinmotion is the largest cryptocurrency payment service provider in Finland and was founded in 2012.
• Tom is also nSenior full-stack developer (over 10 years) with experience in Solidity and Smartcontract.
• 2019 to present: Tom and his colleagues founded Phaver and hold the position of Head of Analysis.

Tokenomics

Overview of Phaver tokens

Currently Phaver’s token has not been released. Weakhand will announce as soon as there is notice from the project. Total supply of the project is estimated to be 10 billion.

Token Allocation

Token Release

The token payout schedule is expected to take place as follows:

• For Community Rewards: Paid in installments within 5 years.
• Treasury & Ecosystem: Treasury is managed by the council.
• Private Sale: Lock for 12 months and pay in installments until the 36th month.
• Founding & Dev Team: 12-month course and paid in installments until 48 months.
• Advisiors: 12 month lock and paid in installments up to 36 months.
• User Airdrop: Additional rewards for active users.
• Partnerships: Locked within 12 months and paid in installments until the 36th month.

Token User Case

The benefits for Phaver token holders are:

• Participate in project administration.
• The number of tokens held in the wallet will affect credit score and user level, providing indirect accumulation and redemption to hold tokens in the form of monthly redemptions.
• Holders of more tokens will enjoy many other perks now and in the future. For example, VIP support, priority visibility, and early access.

Project Information Channel

• Website: https://www.phaver.com/
• Discord: https://discord.com/invite/phaver
• Twitter: https://twitter.com/phaverapp
• Telegram:

Summary

Above is all the information about Phaver that the Weakhand team learned. Phaver is a dApp growing strongly on Lens Protocol, the new project raised an additional $7M, and in Tokenomic there is mention of an airdrop that everyone can experience this platform. Hopefully the above information can help you in your research process.