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Phiat

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Contact Us for Delisting

If your website has been listed as potentially fraudulent, but you believe that it is not involved in any deceptive activities, please reach out to us.

Once you've furnished us with compelling evidence of your legitimate presence in the Crypto World, we will consider removing your website from the list.

Common Reasons for Listing

We typically categorize websites as potentially fraudulent for several reasons:

  • You may be concealing your team's identity.
  • Your website might have a negative reputation due to suspicions of trickery or scams.
  • You may lack a well-crafted project whitepaper, or the existing one may be of poor quality.

Their official site text

Welcome to Phiat

What is Phiat?

Phiat is a fork of AAVE V2 protocol. We assume you have reasonable knowledge about AAVE protocol and their tokenomics. Please check for more details.

Phiat is a decentralized protocol that gives individuals the option to either earn passive income by depositing funds or borrow money through a non-custodial market protocol for liquidity.

Why Phiat?

Built for RH Ecosystem participants and operating on multiple blockchains, Phiat operates independently of major governance or venture capitalist influence, instead opting for a revenue-sharing mechanism that benefits both token holders and liquidity providers. The platform is open-source, offering unrestricted access to all users and has undergone multiple security audits. With Phiat, you can borrow, earn, hedge, leverage, and short your favorite RH Ecosystem coins and more with ease.

It is indeed built to support free speech, even when it is hate speech directed against the Hex community, as we believe that giving them a secure environment to short our products is the best course of action.

How do I engage with Phiat Protocol?

Using the Phiat protocol is simple. All you need to do is provide your desired (supported) asset and quantity in a Metamask wallet. Upon successful provision, you'll earn passive income based on the demand for borrowing. Additionally, your assets will serve as collateral to secure loans. The interest earned from your provision compensates for the interest charged on borrowed funds.

What is the cost of interacting with Phiat protocol?

Using the protocol involves making transactions, which incurs transaction fees on the Ethereum blockchain based on network traffic and the complexity of the transaction.

Is there any risk?

It is an irrefutable fact that no platform can be deemed entirely devoid of risk. The Phiat protocol, like all others, is susceptible to two key risks:

  1. The risk of an error or defect in the smart contract code.
  2. The risk associated with the process of collateral liquidation.

To assuage these risks, the Phiat protocol has undergone a series of measures aimed at minimizing their impact, such as the adoption of battle-tested open-source code, comprehensive code audits, and ongoing risk management practices and maintenance.

Safety

Exercise extreme vigilance against the threat posed by phishing sites and fraudulent schemes purporting to be associated with Phiat. To safeguard your assets, it is imperative that you meticulously verify the legitimacy of all websites before transacting or providing any information. Ensure that you only utilize authorized Phiat platforms, thereby minimizing the risk of falling prey to unscrupulous actors.

PHIAT Protocol Tokenomics

$PHIAT is the platform's utility and governance token. The goal of the tokenomics is to incentivize the protocol's supporters and help long term growth of the community.

Tokenomics

$PHIAT staking will be implemented as PHIAT protocol launches on mainnet.

The Interest paid by borrowers are classified as the platform fees

50% of the platform fees goes to lenders

50% of the platform fees (net fees) will be distributed to $PHIAT stakers:

All $PHIAT tokens are classified as stakable tokens, including:

  • Community share: 65%, fully circulating^.
  • Core team: 18%, locked for 12 months with a 10 months linear unlocking period. (please note locked team tokens can be staked and unstaked, but not sold or moved.)
  • Treasury: 10%, with target emission period of 24 months, given out to the community in the form of extra rewards.
  • OA and contributors: 7%, immediately unlocked, fully circulating

The $PHIAT token supply is distributed for the protocol to be owned fully decentralized.

Rules of fee distribution:

If 100% of the tokens are staked, then 100% of the net fees will be distributed to the $PHIAT stakers, in the native currencies.

If x% of the tokens are not staked, then x% of the net fees will be distributed to the protocol treasury.

IMPORTANT: A 14-day cooldown period must be undergone prior to withdrawing your staked tokens. The unstaking process can be initiated by navigating to the staking tab, selecting 'unstake' and confirming with a single transaction. After initiating the cooldown, a 7-day withdrawal window will become available. Failure to withdraw during this period will necessitate repeating the cooldown process.

Rewards claim: You may access and retrieve your earned rewards anytime through the staking section by clicking the "Claim" button. The tokens obtained from the reward will promptly be transferred to your linked wallet once the transaction is validated.

Treasury operations will be openly discussed, transparently disclosed and potentially encoded in smart contracts.

^ Both Community and Contributors will have all their allocated tokens available before/from platform launch day, and 100% freely tradable.

ePhiat FAQ

Why ePhiat

The Phiat protocol has altered its original plan of being exclusive to PulseChain and has decided to launch on Ethereum to allow for a multi-chain approach. Participants in the initial $PHIAT phase will receive both $ePHIAT and $PHIAT on the PulseChain mainnet. Those who joined the Early-Bird Phamous Phase will receive a bonus in the form of $ePHIAT, but will not receive $PHIAT on PulseChain. This ensures that the original $PHIAT participants are not diluted and remain unchanged. The staking process will remain the same for both platforms, as previously outlined.

Like $PHIAT, the supply distribution of $ePHIAT is exceedingly decentralized

PulseChain fork:

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