Tom: Lens China Community
Joonatan (co-founder & CEO)，Tomi (co-founder & CFO)，Brian (CMO)
Tom: Hello, everyone. It's really nice for so many people to join us, especially,Joonathan from Phaver. Phaver is basically a social app based on Lens, which allows the users to own their own data.It also allows users to share their daily life by some kind of tokenomics, which we call a curation market. It's also very suitable for massive adoption.
Tom: I will leave time for a more official introduction for Joonathan. For Lens China community, we are basically a group of a native web3 OGs. Some of us are community KOLs. Some of us are developers. And it's really nice to also have so many audiences, especially during this Lunar year festival.
Tom: Okay, the very first basic question, What is Phaver?
Jonathan: hey, everyone. And we also have my co-founder Tomi, and our CMO Brian here, so we let them also speak. Brian is also our only Chinese speaker in the team,
Brian:大家好, We will also answer some of the questions in Chinese.
Joonatan: To give a brief intro on Phaver. Phaver is the gateway to Web3 Social, where we see that there's a lot of amazing protocols and projects being built on the blockchain side, but there is actually a very big gap between what the user experience, to access things on blockchain, and what the kind of regular mainstream user actually needs and wants and is kind of comfortable with.
Joonatan:So Phaver is trying to bridge that gap and sort of build this sort of Web 2.5 application in between.
Joonatan:So when you join Phaver, you don't actually have to have a blockchain wallet or know anything about Web3 at that point. You can use your email address to join in the first place and not even have a lens profile. But then when you connect the lens profile, you start putting all of your actions on the blockchain. In the future, Phaver will be also supporting cyberconnect and some of the other decentralized protocols.
Joonatan:So the idea is to access the gateway to all of web3 social. Well, right now, we are the biggest app on Lens. So last week, the number was 52% of all the Lens posts in total were made on Phaver. So we're very thankful for our super-active community, and hopefully some of you are also. I saw some of our contributors in the audience, so at least some of you have been very much contributing into those numbers as well. Phaver is available in IOS and androids, and is trying to make it a very easy mobile experience for both accessing that content and also posting on Lens.
Joonatan:And then we are building our own tokenomics around this with the idea of kind of fairly rewarding the people who are actually generating value, so either creating, moderating or curating the content on the application.Here also, as we know that there's some restrictions, e.g.in China, on acquiring tokens, the way Phaver works is that all the Phaver points that you will need in the app are actually off the blockchain and not actually counted as tokens in any way. And then we will have a separate process for users to redeem those points into tokens. So then it also gives some flexibility on finding the right way to do so, and making sure that you do it kind of according to any regulation.So this way, we're also not blocking any one, regardless of regulation, from using the application and getting started with the earnings.
Tom: That's a very good introduction. Much better than everyone, I guess.The very second question will be, okay, where did the name come from? What is Phaver?
Joonatan: Yeah, very good question. And originally, when we started the company, it's pronounced “favor”, where the idea is that it comes from the word “Favorite”. We started an app that allowed users to share their favorite things, like your favorite shoes or your favorite restaurants. But then we very quickly realized that, Web2 is not really the future, and we shouldn't be building something that small. There is actually a much bigger change coming with allowing people to actually own their social graphs. And we realize that the word Phaver actually still works very nicely for what we do right now, because one of the core parts of Phaver is the staking mechanism, where you essentially choose your five favorite posts each day, and then you stake those and if you choose ones that actually become popular, then you also get rewarded for helping discover the best post.