"Social media is one of the few clear value exchanges in the internet world," said Joonatan Lintala, CEO and co-founder of Phaver. "Creators, curators, and moderators generate value for the audience, and the audience's attention and engagement are also valuable. Unlike many 'x-to-earn' models, it's possible to establish a sustainable token economy in SocialFi that rewards those creating value and monetizes attention and premium features without resorting to unsustainable practices."
Phaver aims to create an environment where creators can monetize their content directly, and users become both owners and beneficiaries of their social interactions. This model seeks to redefine the traditional dynamics of social media platforms by aligning incentives between the platform and its user base.
The $SOCIAL token is engineered to capture and redistribute value in a meritocratic manner to the platform's contributors-its users. Phaver becomes the first mature application in its ecosystem to introduce a native token.
To address the prevalent issue of bots and multi-account farmers that often afflict crypto projects and social apps, Phaver has implemented a validation process for all airdrop recipients.
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