What is Phase Protocol?

Phase Protocol is an innovative on-chain escrow service that funds project teams in stages, grants NFT holders a greater voice in development, and protects project funds in a mutually beneficial manner for teams and investors.

In short, teams complete roadmap items and get paid for doing so OR treasury funds are distributed to holders as partial refunds in the event of project failure.

What  does "Phase Secured" Mean?

If a project is "Phase Secured", that means their funds are stored in our on chain escrow program. As a minter or holder, you have the safety of knowing "Phase Secured" projects only get funds if they execute on their promises.

Is Phase a launchpad project?

Phase is not a launchpad. At our foundational layer, we are an escrow program with lots of beneficial features for projects and holders. We can partner with launchpads and projects to ensure a trustless process.

How does Phase protocol work?

This is a long answer so we suggest reading this thread to outline the problem that Phase Protocol addresses and how it functions.

How is there a "Greater chance of mint out" according to the litepaper?

In theory, prospective minters will feel much more safe knowing that a project they mint will either:
1. Execute on their promises
2. Holders will get a partial refund.

This ensures that the minting process is no longer a zero-sum game. There is now incentive for projects to execute and recourse for holders if not.

What does the voting process look like for holders?

Our voting process is predicated on an innovative time based veto structure. In essence, once a project proposes a completion of a phase, the holders get the chance to veto the fund release of the proposed phase. If the veto vote threshold is not met within 3 days, funds are released to the team. In short, holders get the chance to stop the flow of funds if the project really didn't execute on their promises.

Holders will also get the chance to veto vote any proposed roadmap changes.

How will you ensure project's have the liquidity to execute on their roadmaps if they can't control the funds?

Most escrow protocols allow the team ZERO access to their funds, Here, at Phase Protocol, we believe it is important for the team to have some authority over their funds, while limiting their ability to take all of the funds and run away. That is why our escrow protocol enables teams to swap between SOL to USDC to maintain the buying power needed to execute on their roadmap. We can also open up the swap between other SPL tokens in the future.

What happens if a "Phase Secured" project fails or rugs?

Phase Protocol doesn't help  the teams execute on their roadmap. We simply provide a roadmap escrow infrastructure. With that being said, in the event of a project failure or rug, the remaining of the treasury will be distributed to current holders. For example, let's say a project minted for 1 SOL and completed part of their roadmap but is rendered a project failure with 75% of their funds still left in Phase Protocol. In this instance, holders of this NFT project can login to the Phase app and receive back 0.75 SOL.

Can projects use Phase after they've already minted?

Yes, they can. It’s less effective to “stop rugging” but it’s a good show of faith to reinvigorate investor confidence

Does Phase only work with Solana Projects?

Yes, for now.

Is an NFT collection for Phase Protocol planned or they're planning to keep it solely as a service?

There will be an airdropped "thank you" NFT to early supporters, beyond that there is no immediate plans for an NFT.

Did the team behind Phase Protocol derug all of the projects involved or is this some kind of partnership?

The Phase team is made up of project leads from each of the derugs

How do I integrate Phase?

Head to our Discord and submit a ticket.

What launchpads do you work with?

We can integrate with any launchpad.