Dafi Protocol partners with Phantasma to create synthetic tokens
Dafi rewards users in a network through adoption-tied synthetics, instead of directly issuing tokens. These synthetics are distributed to users in a reduced quantity initially, to protect a token from hyperinflation. Longer-term users are later rewarded when network demand has grown.
What is Phantasma
Phantasma is a fast, secure and scalable blockchain solution powered by the governance token SOUL and the energy token KCAL that allows interoperability with other blockchains while maintaining a decentralized governance system. With its innovative staking mechanism, dual token system and advanced non fungible tokens, it allows users to access digital goods & services such as communication, entertainment, marketplace and storage.
DAFI and SOUL Token
DAFI enables any blockchain, cryptocurrency, or application to create their own version of a dToken, each pegged to the demand of their own native token’s demand.
Through this collaboration with DAFI, Phantasma will explore the creation of a network-pegged synthetic token on the DaFi protocol. dSOUL would be a synthetic version of Phantasma’s SOUL tokens.
dSOUL tokens will be created in a reduced quantity and pegged to the demand of the Phantasma network. This enhances their token scarcity during low-demand phases and allows SOUL users to be rewarded later when the demand has risen in the network.
Lee Kai (Co-Founder, Phantasma) — Dafi is bringing something new and fresh to the market in a way of controlling hyperinflation and we’re glad to be on this journey with them.
Zain Rana (CEO, DAFI — Phantasma has an interesting token economy, and by issuing a synthetic to their users, it gets a little more interesting. We’re excited to work with them on this, and see how they can create a better long-term value for their users.
About the Dafi protocol
DAFI uses synthetics pegged to different decentralized networks. Every blockchain, application and cryptocurrency can create a flavour of a dToken to reward their early users, while still enhancing scarcity when demand is low.
Dafi can reward a network even when demand declines, by issuing synthetics that will reward user’s later — instead of earlier.
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About Phantasma
Phantasma is a fast, secure, and scalable blockchain solution that allows developers to build decentralized applications (DApps) and facilitate interoperability with other blockchains while maintaining a decentralized governance system.
