What is Phantasma?
It’s a Blockchain where people can create Decentralized Apps; it’s highly focused on gaming and NFT’s. The consensus is done via a modified Proof of Stake. Phantasma’s main focus is on consumers and retail, rather than catering towards large enterprise.
Who is the team behind Phantasma?
Founder Sergio Flores has past ties to the NEO cryptocurrency team and helped with the City of Zion. Other team members were involved in creating the Phantom Wallet.
The Phantasma ecosystem is made up of a DUAL TOKEN system. These tokens are called:
SOUL and KCAL.
SOUL generates KCAL via staking; SOUL allows you to participate in governance on Phantasma.
SOUL has a 94 million initial supply with a 3% built in inflation.
Where does the inflation go? 1% of this 3% goes into the Developer pool which helps attract more and more developers to the project. Overall, the distribution mechanism behind this project seems extremely fair.
The 2nd token, KCAL, is the energy of the blockchain; it’s the token you pay transaction fees with. To interact with Phantasma in any way, you need KCAL.
Every SOUL you stake produces .002 KCAL. During transactions, half of the KCAL fees are burned the moment it’s used; this potentially puts pressure on the price as supply is reduced. Currently, around 58% of SOUL is staked.
At 50K SOUL’s, you become what is called a SOUL MASTER (HOW AWESOME IS THAT!) and earn extra rewards, as well as get special NFT’s.
One of the coolest things about Phantasma is you can secure your name on the chain. So your wallet address doesn’t have to be 2323408sdfljsdklfjsffoj on the chain, instead, Philip5231h, or something more memorable is possible. Of course, this makes it much easier and convenient to send money and items to friends and family.
In addition, another benefit that comes with Phantasma is you get Decentralized storage. For every SOUL staked you get 40KB of storage. This prevents your dapps you created from going bye bye, instead, they are stored on the blockchain.
The Mainnet has already launched and includes built in Oracles like price data during any swaps you do. Speaking of swaps, that’s one of the best things about Phantasma, it offers cross chain swaps with Ethereum and Neo.
NFT’s on the CHAIN?
There are over 300K NFT’s that have been minted so far. Minting a NFT on Phantasma is quite affordable and easy. It has Smart NFT’s that you don’t have to worry about someone manipulating. Bundle NFT’s are another possibility.
WHERE TO BUY?
Kucoin, Pancake Swap, and Uniswap. In addition, you can buy directly on Ghost Market via credit card, but please watch the fees as it may be an international service.
WHAT ARE THE WALLETS?
The wallets are the Poltergeist and Ecto wallets