Phantasma

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Discover Phantasma's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Phantasma?

Phantasma (SOUL) is a cryptocurrency launched in 2018, operating on the Ethereum platform. It is designed to enable interoperability with other blockchains while maintaining decentralized governance. The Phantasma blockchain allows developers to deploy infinite side chains, reducing the risk of disruptions to the entire network. The dual token system consists of SOUL, used for governance, and Phantasma Energy (KCAL), used to power transactions. SOUL holders can participate in on-chain voting and stake their tokens to access network resources and earn rewards.

How is Phantasma used?

Phantasma (SOUL) is a cryptocurrency token used for governance and staking on the Phantasma blockchain. It is part of a dual token system, where SOUL is used for governance and Phantasma Energy (KCAL) is used to power transactions. SOUL holders can stake their tokens to earn KCAL, which can be used to pay for transaction fees, effectively making transactions free for SOUL holders.

How do I store Phantasma?

To store Phantasma (SOUL) tokens, you have several options:

  1. Poltergeist Wallet: This is a native wallet of the Phantasma network, allowing you to store, manage, and stake SOUL tokens. It is available for Windows, Android, Mac OS, and iOS.

  2. Atomic Wallet: This is a multi-asset wallet that supports over 1,000 coins and tokens, including Phantasma. It is trusted by 5 million users worldwide and offers private, secured, and 24/7 online support.

  3. Ledger Wallet: You can store Phantasma tokens on Ledger by sending them to your Ledger ETH or BNB account. Although Ledger Live may not visually support the token, you can use third-party wallets like MetaMask to manage it.

  1. Cold Wallets: For long-term storage, consider using cold wallets like paper wallets or hardware wallets. These are offline and provide an additional layer of security against hacks and exchange shutdowns.

  2. Exchanges' Wallets: You can also store your Phantasma tokens on exchanges' wallets, such as Binance Wallet or Trust Wallet. However, these are "hot wallets" and are more susceptible to security risks.

  3. Phantasma Wallet App: This app allows you to manage your Phantasma tokens, stake them, and claim rewards.

Remember to always prioritize security and use trusted wallets to protect your assets.

How to buy Phantasma?

To buy Phantasma (SOUL) tokens, follow these steps:

  1. Choose a Reliable Exchange: Find a reputable centralized exchange (CEX) or decentralized exchange (DEX) that supports Phantasma (SOUL) trading. Some popular options include KuCoin, Gate.io, and PancakeSwap.

  2. Create an Account: Register on the chosen exchange's website or mobile app, providing necessary personal information and identity verification documents.

  3. Fund Your Account: Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, debit card, or cryptocurrencies like USDT, ETH, or BNB.

  1. Navigate to the Phantasma Market: Search for "Phantasma" (SOUL) in the exchange's marketplace and select the desired trading pair (e.g., SOUL/USDT, SOUL/ETH, or SOUL/BTC).

  2. Enter the Transaction Amount: Specify the amount of Phantasma you wish to purchase.

  3. Confirm the Purchase: Review the transaction details and confirm your purchase by clicking the "Buy SOUL" or equivalent button.

  1. Transfer to a Wallet (Optional): For added security, consider transferring your Phantasma tokens to a hardware wallet like Ledger or Trezor.

Remember to research the exchange's fees, security, and user reviews before making a purchase. Additionally, be aware of market risks and price volatility associated with cryptocurrency investments.

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History of Phantasma

Phantasma (SOUL) is a cryptocurrency token that was launched in May 2018. Initially, it traded at $0.5668 but quickly fell below $0.10 in July 2018. The mainnet for Phantasma was launched in October 2019, marking a significant milestone in the project's development. This was followed by the release of Phantasma 2.0 in December 2020, which introduced a revised NFT standard.

Phantasma is designed to be a fast, secure, and scalable blockchain that enables interoperability with other blockchains. It uses a dual token system, with SOUL serving as the governance token and KCAL (Phantasma Energy) used for transaction fees. The staking mechanism allows users to earn KCAL tokens by staking SOUL, which can then be used to pay for transactions, making them essentially free for SOUL holders.

The project has seen significant growth and adoption, particularly in the realm of blockchain gaming and NFTs. The launch of new protocols and projects on the Phantasma network, such as Blood Rune, Ghost Festival, and GhostMarket, has contributed to its increasing popularity. Additionally, Phantasma's cross-chain interoperability with multiple blockchain networks, including Ethereum, Binance Smart Chain, and NEO, has expanded its reach and usability.

Phantasma has also gained attention for being a certified carbon-negative blockchain, setting it apart from other networks with higher carbon footprints. This eco-friendly approach has helped attract positive attention and contributed to the token's growth.

Overall, Phantasma has made significant strides since its launch, focusing on scalability, interoperability, and innovative tokenomics. Its growth in the blockchain gaming and NFT sectors has positioned it as a promising project in the cryptocurrency space.

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How Phantasma works

Phantasma (SOUL) is a cryptocurrency that operates on its own blockchain protocol. The main goal of Phantasma is to enable interoperability with other blockchains while maintaining decentralized governance. Here's how it works:

Dual Token System

Phantasma uses a dual token system, consisting of two tokens: SOUL and KCAL. SOUL is the governance token, which is used for voting and decision-making within the Phantasma ecosystem. KCAL, on the other hand, is the fuel token, which is used to power transactions and interactions on the blockchain.

Staking and Rewards

SOUL holders can stake their tokens to earn KCAL as rewards. This staking mechanism allows users to access network resources and choose the network's validators. The staking functionality also allows holders to allocate staking rewards to other Phantasma addresses, making it possible to stake on behalf of family and friends, introducing new users to the ecosystem.

Soul Masters and CROWN NFTs

Holders who stake more than 50,000 SOUL are given the title of Soul Master. Soul Masters earn extra tokens from a monthly reward pool of 125,000 SOUL. Additionally, they receive a CROWN NFT every 90 days, which contains a share of the total KCAL fees from the previous 90 days and a portion of the ecosystem incentives. Having a CROWN NFT in the wallet increases KCAL generation by 5%.

Inflation and Token Supply

Phantasma has an annual inflation rate of 3%, which is distributed in thirds to network validators, developers, and ecosystem incentives. This inflationary element is designed to incentivize developers to use the network. The initial maximum supply of SOUL tokens is 94 million.

Decentralized Storage

Phantasma offers decentralized storage, which is proportional to and grows with the user's stake. This storage is served by block producers and allows users to securely store their files, encrypted for security.

User Experience

Phantasma's staking and KCAL system streamlines the user experience by eliminating the unpredictability of transaction fees. Developers can earn KCAL by staking SOUL, which they can use to cover transaction fees, making it easier for users to interact with blockchain applications without worrying about upfront costs. This approach enhances user trust and satisfaction, encouraging more users to adopt blockchain-powered solutions.

Interoperability and Side Chains

Phantasma enables developers to deploy infinite side chains, each of which can run independently. This reduces the risk that a problem with a single decentralized application (dApp) could disrupt the entire network. This interoperability allows for the integration of multiple blockchains, enhancing the overall scalability and usability of the Phantasma ecosystem.

Overall, Phantasma (SOUL) is designed to provide a seamless and cost-effective user experience, while incentivizing developers to build and deploy more applications on the blockchain, fostering a robust and sustainable ecosystem.

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Phantasma's strengths

Phantasma (SOUL) has several strengths that contribute to its appeal and potential for growth:

Earning KCAL and Governance
  • Earning KCAL: Staking SOUL tokens allows users to earn KCAL, the fuel token needed for transactions on the Phantasma ecosystem. This provides a passive income stream for token holders.
  • Governance: Staking SOUL also grants voting power, which is calculated based on the amount staked and the duration of staking. This ensures that long-term supporters have more influence in governance decisions, mitigating the impact of large token holders.
Decentralized Storage
  • Decentralized Storage Allocation: Each staked SOUL token provides a certain amount of decentralized storage, which can be used for secure data storage. This feature is particularly useful for dApps and users who need to store important files securely.
Gaming and NFT Integration
  • Gaming Focus: Phantasma is specifically designed for the gaming community, offering features like Smart NFTs and dApp integration to enhance the gaming experience.
  • uMint and GhostMarket: The uMint protocol streamlines the creation of digital assets, while the GhostMarket allows for secure, peer-to-peer trading of NFTs.
Flexibility and Interoperability
  • Infinite Blockchain Protocol: Phantasma enables the deployment of infinite side chains, reducing the risk of disruptions to the entire network if a single dApp encounters issues.
  • Cross-Chain Interoperability: Phantasma supports interoperability with multiple blockchain networks, including Ethereum, Binance Smart Chain, and NEO, making it a versatile platform for developers and users.
Environmental Impact
  • Carbon-Negative Blockchain: Phantasma is certified as a carbon-negative blockchain, which sets it apart from other networks with higher carbon footprints, such as Ethereum.

These strengths position Phantasma as a robust and versatile platform for gaming, NFTs, and decentralized applications, with a focus on sustainability and community engagement.

Phantasma's risks

Phantasma (SOUL) is a cryptocurrency that carries several financial risks. One of the primary risks is the volatility of the cryptocurrency market, which can cause prices to fluctuate wildly. This volatility is inherent to decentralized and non-regulated markets, making it a significant concern for investors.

Additionally, Phantasma has been given a high risk assessment by InvestorsObserver, indicating that it is a relatively high-risk investment. This assessment is based on factors such as the amount of money required to shift its price over a 24-hour period, recent changes in volume and market capitalization, and the potential for manipulation by limited trading activity.

These risks highlight the importance of careful consideration and thorough research before investing in Phantasma (SOUL).

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Did Phantasma raise funds?

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Phantasma’s team

  • Scott Gallagher: Co-founder, passionate about helping Phantasma grow, with a Master’s degree in Information Security & Cryptography, and contributions to Phantasma 3.0 and bug fixes.
  • Alex Paukonen: Software developer with 20+ years of experience in Enterprise Software Delivery, focusing on E-Commerce, Collaboration, and Content Management.
  • Bill Petridis: Core developer and full-stack game developer with a passion for games and Virtual Reality.
  • João “Tek” Novo: Software developer committed to building secure partnerships through customer support, optimizing the customer experience.
  • Gary “GO” Ollivier: Ecosystem growth team member, passionate about Phantasma and the crypto space, with a background in photography and graphics.
  • Gayle Swan: Ecosystem growth team member, dedicated to educating community members about Phantasma, and a community manager.
  • GM Radford: Ecosystem growth team member, researching the expanding crypto ecosystem, and a retired cocktail expert and business owner.
  • John Reusing: Ecosystem growth team member, spreading the word about Phantasma and simplifying complex topics for the everyday person, and a former Biz Dev for Phantasma.
  • Justin: Ecosystem growth team member, ensuring accessibility and user-friendliness for the SEA region, guiding and educating creators, fans, and crypto newcomers.
  • Koyote Kai: Ecosystem growth team member, championing women in blockchain and leading in the SEA region as Phantasma’s Beacon of Empowerment.
  • Charlene Ocon: Ecosystem growth team member, motion designer and 3D artist.
  • Motion Samurai: Ecosystem growth team member.
  • Noah Wardell: Software developer, smart contract expert, and blockchain systems architect with 30+ years of experience.
  • Crypto Bull Boss: Community manager, empowering dreams and connecting Souls.
  • Crypto Cris: Community manager, passionate about Phantasma and the crypto space.
  • Gayle Swan: Community manager, crypto enthusiast since 2018, amateur coder, and professional SOULdier.
  • James: Community manager, blockchain and crypto enthusiast, Phantasma OG, and long-term supporter.
  • JohnCTK: Community manager, marketing director for Illuminated Entertainment, working on the Phantasma-powered game Blood Rune.
  • Joseph Colón: Community manager, blockchain enthusiast, web developer, and Phantasma ecosystem supporter since launch in 2018.
  • Liam Lead: Community manager, engineer, tech-savvy, anime lover, and crypto enthusiast.
  • Volkan Kurt: Community manager.
  • Paul West: Software developer and architect for 20 years, former Microsoft C# MVP, and Telerik developer.

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