Phantasma has announced the launch of its MainNet blockchain, as well as the release of two wallets that will enable users to swap their NEP-5 SOUL for the native chain SOUL tokens. Phantasma is a public blockchain focusing on content distribution and data storage, which incorporates a Proof-of-Stake consensus mechanism and a dual-token model.
History of Phantasma on the NEO blockchain
In November 2017, Phantasma was among the winners of the first COZ dApp competition. The project took 5th place as a dApp that every NEO address could turn into a mailbox capable of receiving and sending content such as a file or mail. The team opted to use NEO for the mail dApp project due to its fast transactions and C# support.
The founder of the project, Sergio Flores, publicly debuted Phantasma at the first NEO DevCon in San Francisco, CA, on February 2018. The presentation discussed user-oriented content and integrating NEO smart contracts alongside the use of InterPlanetary File System (IPFS) to store data.
In April 2018, Phantasma had been declared the first place winner of a NEO and Microsoft co-hosted development competition that began November 2017. Phantasma’s winning project, Nacho Men, was a turn-based competitive wrestling game that used NEO smart contracts as its back-end.
Phantasma released its whitepaper in May 2018, which stated the team would aim to develop “the new standard for seamless and secure data sharing, management and integration, across a multitude of communication partners, connected users and dApps in the NEO ecosystem.”
The Phantasma public token sale concluded that month, though the token sale event did require a multi-day pause to deal with a security issue discovered in the token smart contract. To address the security issue, Phantasma worked with Red4Sec, a NEO cybersecurity partner, to issue a new smart contract. When the token sale resumed, it reportedly sold out within one second of reopening.
The month following its public token sale, Phantasma released an article stating the Phantasma Protocol project was not only a dApp, but the team intended for it to become a full-featured smart contract blockchain. The Phantasma team noted its blockchain would allow for the scalability required to run a fully decentralized content distribution platform and give the team the ability to add innovative features to improve the platform.
The open beta of Nacho Men launched in Q3 2018 on Windows, Mac, Linux and Android. The beta version incorporated ranked and casual matchmaking, gym training, and staking of Phantasma’s SOUL tokens for battle rewards.
In November 2018, the Phantasma development team had launched its TestNet along with a block explorer, and halted all NEO-oriented product development. The mail dApp and Nacho Men game were to be ported across to the Phantasma chain.
Upon the launch of Phantasma MainNet, the blockchain offers support for a distributed and decentralized file storage system, oracles, and cross-chain cosmic token swap functionality.
NEP-5 and MainNet SOUL token swap
As of the launch of Phantasma MainNet, token holders can swap their NEP-5 SOUL tokens for Phantasma native SOUL tokens. At its launch, the Phantasma blockchain has two wallets with built-in swapping features: Phantom Wallet and Poltergeist.
Phantom Wallet was developed by Merl and Vincent of NEO Economy, which won first place in a dApp competition Phantasma hosted and allows users to conduct a manual swap. The Poltergeist wallet provides token swap functionality in addition to letting users stake their SOUL.
Users who swap their NEP-5 SOUL to Phantasma SOUL will be able to stake their tokens to become a masternode. Phantasma master nodes require a stake of 50,000 SOUL and are responsible for accepting transactions from users, validating them, and broadcasting them to other nodes.
For the foreseeable future, NEP-5 SOUL tokens are expected to remain on current exchanges. Should a user wish to liquidate their SOUL holdings, they can perform a native SOUL swap back to the NEP-5 SOUL tokens, and use a supported exchange.
Phantasma notes: “Any SOUL on exchanges is the unswapped NEP5 SOUL which is deployed on the NEO blockchain, do not send native SOUL coins to exchanges! Do not send NEP5 SOUL from exchanges directly to a Phantasma address starting with ‘’P’’, you can however send it to the NEO address in Poltergeist starting with ‘A’.’’
The full MainNet launch announcement can be found at the link below: