Project Introduction :
Phantom is a cross-chain DeFi protocol that supports synthetic asset generation and NFT issuance. Utilising smart contracts, Phantom allowing individuals to build synthetic assets (pAssets) in a decentralized manner with mainstream cryptocurrencies or NFT as collateral. Phantom enables more people to join in a diverse range of investments by lowering the obstacles to entry.
Synthetic assets are a tool primarily designed for large investors in the traditional financial industry. The benefit of synthetic assets is that they can imitate real-world asset price movements, allowing investors to participate in other investment categories from the comfort of a unified platform without the cost and risk of asset transfers.
Phantom uses DeFi technology to enable traders to create or invest in pAssets to participate in markets such as NFT, crypto assets, forecasts, stocks, and others with a low barrier.
For example, if a USDT holder wants to buy and trade Gold, he/she would need to convert his USDT to fiat currency, open an account, and undergo KYC. He may now buy pAU (p-assets that resemble the price of gold) directly with USDT utilizing Phantom to get the same return.
Phantom Trading Pairs to add to Moonswap
Phantom’s mainnet is expected to launch on August 2nd on the Conflux chain. For this version of the mainnet, we will launch synthetic asset functions. Together with the launch, Phantom will also start its liquidity mining campaign: in 30 days, Phantom will release 20 million PHM tokens for its liquidity mining rewards. Additionally, the trading pairs that go along with the liquidity mining will be applied to be added to Moonswap for trading pair and liquidity addition:
Phantom’s PHM Token Metrics
50% - Community farming
1% - IDO
15% - Team
18% - Investors
8% - Foundation
8% - Project development, operations, and business development
Phantom’s Token Public Circulation
As of currently Phantom has completed the private funding for the PHM token, and is preparing for its IDO and listing. PHM tokens is scheduled to be released for public circulation after IDO and at time of public listing (TGE time). We expect this time to be between 3rd-4th quarter of 2021. For those participating in Phantom’s mining event in August, the user’s mined PHM on the Phantom platform will be available for withdraw at the time of the TGE (same as investors), 100% released.