Phi (cryptocurrency)

PHI is a blockchain-based platform that offers users financial guidance services. PHI is building a hybrid financial guidance platform with a Blockchain Document Management System (BDMS). The native token of the platform is PHI.

The platform's objective is to integrate its platform with the PHI token to remove intermediaries from its financial advising process. PHI tokens are created to possess three functions that aim to increase the token’s value. The token can be used for staking. It can also be utilized for payment arbitrations and maintaining token price through the creation of scarcity.

The token utilized an initial coin offering (ICO) tactic for its release. Additionally, PHI is used as the reward mechanism for participation. To use the Phi lending tool, users are required to hold a certain amount of PHI, which will then be used as a fuel component that allows token transfers to and from the PHI platform.