Phantasma Mail for Android
Phantasma Chain, an upcoming blockchain for “next-generation content distribution” and data storage, has announced the first minimum viable product (MVP) of its decentralized email, or “dMail”, app. This first MVP allows Phantasma Mail users to send and recieve messages with each other. Wider support across the Internet to communicate with other domains such as Gmail, Yahoo Mail, and Hotmail is not yet available, but will be added in a future Phantasma Mail version with support for POP3 (Post Office Protocol version 3) and IMAP (Internet Message Access Protocol). These protocols are Internet standards for accessing messages on remote Internet mail servers.
Users who would like to try the Phantasma Mail MVP will need a NEO wallet containing a minimum of 0.00001 GAS. Users will also need an Android phone with security permissions that have been relaxed in the phone’s settings to download and install apps from “unknown sources” other than the Google Play store. Phantasma states that dMails in the MVP running on NEO will be free of charge as long as the GAS is present. Later versions of the Phantasma Mail dApp running on Phantasma’s own blockchain (to be deployed in early 2019) will send and receive “regular dMails” free of charge. In the future, business users will be able to pay Phantasma’s SOUL tokens for subscriptions to premium dMail services, including whitelisting functions.
Another new announcement from the Phantasma team involves plans for the creation of a native collateral-backed stablecoin. Phantasma co-founder Sergio Flores told NEO News Today that Phantasma believes “a big thing necessary for mass adoption of dApps is to remove the volatility associated with crypto”.
Phantasma states that the upcoming stablecoin, to be launched on the future standalone Phantasma Chain, will be backed by SOUL locked in a smart contract as collateral. This design is similar to Alchemint’s upcoming SDUSD stablecoin hosted on the NEO blockchain. When asked specifically about development, Flores noted that “Alchemint has a quite extensive roadmap” with “a more far reaching” goal, but explained that Phantasma’s stablecoin will begin life as a similar product.
Flores added that “Our stablecoin contract is still under development” and stated that the spot price of SOUL for the collateral system “is tied to other components of our chain, the governance system that is responsible for adjusting dynamic values” such as block sizes and gas limits.
Flores also said that its stablecoin development “is in-house”, not from third-party developers, and he added, “We’re not making a stable coin with intentions of being a global crypto stablecoin like Tether…[it will be] only for the Phantasma ecosystem.”
Phantasma Chain VM
Whilst discussing the stablecoin design Flores also told NNT that “Phantasma Chain is not using NeoVM” and will adopt “a completely different VM architecture”. Flores added that “Since Phantasma has built-in support for multiple sidechains, it would be feasible to have a specific sidechain for NEO interoperability which would use NeoVM + NeoX”. However, Phantasma is “waiting until more details about NeoX”, NEO’s upcoming cross-chain protocol, become available.
SOUL Token Economics and Supply
Phantasma also reviewed the economics of its completed May 2018 token sale in order to be “transparent to the community”. Of the 91,136,374 SOUL tokens that constitute the total (maximum) supply, 35,000,000 SOUL were allocated to the team and advisors. These tokens will unlock in a tiered fashion through May 2021, while public and private investors bought the current circulating supply, or approximately 56.1 million tokens.
Phantasma further notes that all bonus tokens awarded to the private sale contributors have already been distributed.
Nachomen Referral Staking
Finally, Phantasma has announced that the referral bonus for its Nacho Men turn-based wrestling game has decreased to a 25% bonus. The referral bonus is planned to decrease periodically over time. Users that stake 100 SOUL will get a referral slot that is good for a 25% of the SOUL spent on in-game purchases. At the end of the 30-day staking period, users will be able to either collect the shared profits from SOUL staking, or keep the SOUL staked and maintain their original, higher referral bonus percentage.
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
More posts by Colin Closser