Phantasia Token
Phantasia's SPL token $FANT is both a utility and governance token (see "Decentralized Organization" section for more information about governance) that can be earned by using the Phantasia platform for daily fantasy sports contests. Through this play-to-earn model, users have an opportunity to generate tokens by using the platform as they normally would - participating in fantasy sports contests. When a user obtains tokens, they unlock exclusive features or in-platform recognition.
Play-To-Earn Contests
$FANT tokens serve as the contest prize in Phantasia's daily fantasy sports competitions. Because this is a play-to-earn model, joining a contest is completely free, yet offers the opportunity to still be rewarded. The amount of $FANT rewarded to contest winners is determined by two basic variables: the number of contest participants and the Phantasia treasury's wealth.
Contest Participants
When more users participate in a contest, it will be more difficult for a single user to win, but as more users interact with the protocol by entering a contest, the corresponding $FANT token prize increases. This incentivizes users to take part in larger contests and invite their friends to grow prize potential. Following this same model, any contest with less than 10 users will not pay a $FANT prize, since not enough users interacted with the protocol to generate a relevant prize.
Treasury Wealth
Since day 1, Phantasia has worked to give users the opportunity to play the role of both the player and house - or in other words - users benefit when Phantasia thrives. Because of this, $FANT prizes rewarded to contest winners will be greater when the amount in the treasury grows through separate revenue streams (NFT drops, for example).
Currently the FANT token is the only accepted method of payment for all of the NFTs on the Phantasia NFT Shop. Users are able to buy items on the primary marketplace with the FANT token and sell items on the secondary to receive the FANT token.
Staking
FANT token staking allows users to be a vital part in the protocol. The token stakers access different tiers which benefit them as an active user of joining contests and also a creator of contests. More information on staking can be found here.
*Disclaimer
The FANT tokens nor the transactions for them have not been registered under the United States Securities Act of 1933 and any related securities may not offered or sold in the United States or to United States persons unless registered with the Securities Exchange Commission or if a registration exemption is available.
Last modified 2mo ago