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PHI (Φ)
PHI Φ is PHI network's native and primary token. Initially deployed on Ethereum, we have expanded its compatibility and use-cases by making it the native token of PHI Network & PHI Smart Chain. We also have extend its availability to Polygon and Binance Smart Chain. You can use PHI to:
- Pay for network and gas fees on PHI Smart Chain;
- Participate in securing the network by becoming a validator;
- Execute cross-border, trustless, and fast payments;
- Exercise on-chain governance on PHI Network; and
- Pay for products and services on affiliated marketplaces;
Name: PHI
Symbol: Φ
Standard: Native/ERC20/BEP20/Matic
Available Networks: PHI Network, Ethereum, Binance, Polygon
Wrapped PHI Contract Address (wPHI)
PHI Tether Contract Address (Φusdt)
Ethereum Contract Address
Binance Smart Chain Contract Address
Polygon Matic Contract Address
PHI token economics promote fair distribution amongst the community, scarcity, and holding incentives for users. A small portion of its supply is burned every time a user sends a transaction on PHI Network, and this ensures balance to the inflationary nature of the tokens, as they are used to pay for block rewards on the network.
There were PHI 10,000,000 (ten million) pre-mined in our genesis block, and about PHI 2 are produced every time a block is sealed on the mainnet. This brings a relative inflation of about PHI 4,000,000 per year with the network averaging 5 seconds between blocks.
Pre-Mined Supply: 10,000,000
Block Rewards: 2/block
New PHI is created on every block mined, thus bringing an inflationary element to the economics of the coin. Because the same average PHI is produced every year against a steadily growing supply, it is expected that the inflation rate will lessen as years go by, and this will also be countered by the built-in burning mechanism that burns part of the fees used to pay for transactions.
Expected Inflation Rate: 2* PHI per Block
* ~ 2M Blocks per Year = PHI ~4M/Year
PHI Network distributes part of the gas fees used to pay for transactions to the validators, and part of these fees are automatically burned by the protocol.
Out of the total supply, 1,000,000 tokens were - or will be - allocated to be distributed to the community in different stages of the project.
A total of 1,000,000 tokens have been set aside for community incentives, staking, and farming rewards,
Development Incentives & Operations
A total of 1,000,000 tokens have been set aside for assisting protocols and platforms to deploy on PHI Network, and to pay for operational expenses, such as salaries, etc. We have used a good part of the portion of these allocation in our buyback program.