499Block：First, please introduce yourself and Phantom.
Mr Phantom：Hi all, I am Mr. Phantom, one of the founding members of the Phantom protocol. I am a veteran in the crypto industry, having been through ups and downs in the industry since 2015. I came from a development and finance background and had worked on various projects including public chains, privacy tokens, cross-border payments, DeFi, NFT and now synthetic assets. The reason that attracted me to create Phantom is that the hope to provide everyone with the chance to access the most profitable and interesting financial instruments out there in the market, be it derivatives, stocks or commodities. Additionally, I had been a collector of NFTs and early engagers on NFT gaming, and it has been my dream to combine defi and NFT together. So now you have Phantom. And I want to tell you more about it today.
Phantom is a cross-chain synthetic asset issuance protocol that enables all DeFi users to participate in multi-market investment in a decentralized manner. Using the Phantom protocol, users can create synthetic assets (pAssets) with collateral on Ethereum, BSC, Conflux, and Heco for exchange or liquidity mining.
pAssets track the price movements of the various physical world or on-chain assets, such as stocks, gold & silver, cryptocurrencies, NFT, etc, allowing investors to trade multi-market assets on a single platform, eliminating the cost and risk of asset transfers.
Phantom’s Conflux mainnet passed code audit by CertiK and was released on August 2, 2021, with a first-day TVL of more than 5 million USD. Its Genesis NFT release was also sold out in 14 minutes.
Phantom’s governance token is PHM, and the TGE date is September 9th, 2021.
499Block：Why did Phantom choose to build a “synthetic asset” DeFi protocol?
Mr Phantom：Derivatives, we believe, are the most promising growth opportunity in the DeFi space. The derivatives market is ten times larger than the spot market in a mature financial system. However, because derivatives currently account for a very small portion of the DeFi market, they have significant growth potential.
Synthetic Assets originally served only wealthy large investors, putting a variety of global investment assets on the table for them. And Phantom implements this tool in a decentralized form on the blockchain, so anyone in the world with a wallet can easily participate, regardless of their location and social status. And what’s even more powerful is that they can choose from both existing physical & on-chain asset classes such as NFTs, metaverse props, cryptocurrencies, and more.
499Block：Seems Phantom has a lot of great investors and backers, can you tell us about them? What do you think drew them in
Mr Phantom：Phantom has investors from all over the world. Conflux is a Phantom investor and early partner, and the first version of the Phantom Protocol is also running on the Conflux blockchain. LD Capital, NGC, gate.io, Kyro Ventures, MXC, OpenDeFi, and China’s DOTA2 gaming KOL 09 are also among Phantom’s early investors.
Our investors’ support enables us to focus more on R&D and the long-term development of our product line in the NFT ecosystem.
The investors we’ve chosen agree with our assessment of DeFi derivatives’ limitless potential, as well as their understanding of the need for liquidity in the development of on-chain assets and games, and believe that, in addition to Phantom’s own project revenue, they can provide projects in their own portfolios with the ability to create more competitive conditions. We also believe that investor confidence stems from our core team, which has over ten years of financial and technological experience.
499Block：Phantom seems to be directly competing the well-known Synthetix. Compared with them and other projects in your field, what makes your better?
Mr Phantom：The first is a wider range of collaterals. Phantom does not use project tokens as the only collateral for synthetic assets; users can use mainstream stablecoins, crypto assets, and even NFT as collateral to create pAssets, whereas Synthetix uses single collateral with its tokens, limiting the total market value of synthetic assets to the market value of tokens.
Second, Phantom is a cross-chain Synthetix protocol that will provide users with more options, faster transactions, and lower fees than most ethereum-only protocols.
The last significant feature is NFT support. Most synthetic asset products currently only support crypto-assets, stocks, and commodities; Phantom will provide a more comprehensive and in-depth solution for NFT, particularly in GameFi and metaverse. We will soon announce our collaborations with various IPs.
499Block：What is the function of the PHM token in the Phantom? What is the token’s metrics?
Mr Phantom：PHM is Phantom’s governance token, and it can also be used to generate synthetic assets and redeem limited benefits. Users will be able to use PHM to purchase NFTs and metaverse props on Phantom, while accounts with specific equity NFTs will have additional benefits such as fee dividends, mining acceleration, and participation in priority sales.
The total amount of PHM is 10 billion, 50% allocated to community mining reward, 18% for private investors, 15% for the team, 8% for operation, 8% for foundation investment, and 1% for IDO.
499Block：What are the projects’ major achievements recently and plans for the future?
Mr Phantom：We have launched the Conflux mainnet and the NFT sales module. By Q4 2021, we will complete cross-chain synthetic asset generation on multiple blockchains such as Ethererum, BSC, Heco, etc.
Also, on the NFT side we also have some exciting news:
we will soon launch a our NFT fractionization trading on the market, users can participate and trade fractions of NFT to earn more money;
we are in talks with some major anime and manga IPs to develop NFT trading cards, these will likely be materialized in the near term and be first offered on the Phantom platform, the IP itself has a huge amount of followers and we foresee a large hype following up
finally building on E-sports and manga IPs, Phantom is building its own NFT metaverse where we are developing GameFi functions on our trading cards and link them to the platform’s DeFi ecosystem. We aim to develop a Play-to-earn, Trade-to-earn, and Own-to-earn (PTO) universe for Phantom’s network.
499Block：Will Phantom plan for public listing in the near term?
Mr Phantom：Yes, we have actually confirmed our listing in the near term: Phantom will IEO on Gate and MXC on or around Sept 8th. Additionally, we will also IEO on Flybit around the same time period, so as to make us available for Korean market as well
In addition to IEO, we have also arranged for 4 IDO campaigns. from Sept 6–7th, Phantom will do IDO on Pentalaunch, Bounce Certified, Westarter, and DODO. Currently Bounce, westarter and DODO have all opened events for getting whitelists for their IDO allocations, you should definitely go to check them out, info are at:
For both the IDO and IEO, Phantom’s token is priced at a very attractive price: 0.005 USDT, which is almost equivalent to its private rounds, and there are NO LOCKUPs on IDOs. So don’t miss them out.
499Block：These are fantastic news. A question on a very critical matter: how does Phantom ensure security?
Mr Phantom：We believe that code auditing and testing are critical. DeFi is managing an increasing number of assets. That is why we have set aside resources and time for code audit before releasing the protocol to the blockchain. All audit reports are available on the official website’s “Audit” session.
During the beta phase, we also invited community members from around the world to participate in the bug bounty; those who discovered minor bugs or made useful suggestions were rewarded with PHM tokens.
499Block：How can we stay up to date on the latest Phantom Protocol features and developments?
Mr Phantom：Phantom’s official website is https://phm.finance/, where all features and activity portals can be found.
Please pay attention to the official channel information, as we have seen impostor accounts posting token sale information.
If you want to stay up to date on the latest news, Join our Telegram group at https://t.me/PhantomProtocol .
Phantom’s most recent news will also be posted on Twitter and Medium, so make sure to follow along: