Phoenix (PHB)

What is Phoenix Global (PHB)?

Phoenix Global (PHB) is a cryptocurrency and a BRC-20 token on the Binance blockchain that represents PHX, the native token of the Phoenix network. Phoenix is a Layer 1 and Layer 2 blockchain infrastructure that empowers intelligent Web3 applications, focusing on the next generation of AI and privacy-enabled Web3 apps. Phoenix is a consumer-driven protocol that provides businesses with blockchain technology that supports the rapid development of decentralized consumer apps (DApps) and utilizes DApps to enhance customer experience.

What is $PHB used for?

$PHB is used for several purposes, such as:

Participating in the Phoenix network governance, where $PHB holders can vote on proposals and parameters that affect the network.Staking on the Phoenix network, where $PHB holders can delegate their tokens to validators who secure the network and earn rewards.Transferring value across different blockchains, where $PHB can be converted to PHX and vice versa through the Phoenix Gateways.Accessing cross-chain services and applications, where $PHB can be used as a payment or utility token for various DApps that leverage the Phoenix network.

NEO Migration and NEO Swap:

On September, 2021, the strategic direction of moving to BSC to enjoy relatively fast and cheap transactions, and a much larger audience, brought the decentralized staking. With the impending NEO N3 upgrade, Phoenix team have decided that at that time was the right time to migrate fully from NEO over to BSC. Phoenix Staker and PHB staking on Horizon Protocol will be updated to support the new PHB token.Note: The PHXv1 (NEO), PHBv1 (BC), and PHBv1 (BSC) will have no use other than to swap to the new PHB (BSC) token in order to continue staking.

This article covers all information about the swap, including manual swapping and supported exchanges.