PHTR is the medium through which the protocol can enforce governance, reward users, incentivise activity and provide a medium to raise capital.
Governance - Staked PHTR holders can exercise their right to vote on, or propose new ideas to improve the Phuture protocol.
Staking - Users who stake PHTR receive Enhanced PHTR (ePHTR), a yield generating, governance enabled variant of PHTR.
Liquidity Incentives - Distributed to liquidity providers of PHTR and Phuture index products.
PHTR is emitted to active users of the platform ensuring that they accrue more influence in the protocol, whilst non active users get diluted over time.
Buy-Back and burn/distribute
All fees generated on the platform are used to buy back PHTR. 15% of this PHTR is burnt and the remaining 85% is redistributed to ongoing initiatives such as ePHTR staking, liquidity mining, index incentives and solver rewards.
The PHTR token has an initial max supply of 100mm.
The token contract has the ability to mint additional tokens. This is to allow governance to issue more tokens should the initial supply of 100mm prove insufficient in self-sustaining the platform through fees alone.