Foresight News reports that the token economy model and other upgrades are detailed in the whitepaper for the Web3 social application Phaver. According to the whitepaper, the in-app purchase points feature will reportedly go live in the fourth quarter of 2023, while the advertising functionality will debut in 2024. Phaver also intends to launch an NFT series through various in-app tools.
The entire supply cap for the token economy paradigm, as revealed by Phaver, is 10 billion tokens. Phaver also intends to launch a quarterly token burn programme using money earned from fiat money, native tokens, or other liquid tokens. The greatest portion of the token distribution (28%) is set aside for user benefits. These prizes will be given out over a number of years and may be supported by additional liquid tokens from advertising and other revenue sources, such subscriptions and native utility NFTs. The ecosystem treasury will receive the second-largest portion (27.7%), which can be burnt, transferred in part to users, or used to build and upgrade applications. Team allocation, which has a one-year lock-up period and linear unlocking over four years, accounts for the third-largest portion (18%).
In addition to the 28% user rewards pool, 18.3% will be utilised for sales, 2% will be given to partners, 3% will be given to advisors, and 3% will be set aside for rewarding early users who joined before the TGE.