What is PHA

1. Project Introduction
Phala Network (PHA) is the execution layer for Web3 AI. Initially focused on privacy computing, Phala has now pivoted toward the AI boom by integrating AI co-processors into its privacy infrastructure. This enables the deployment of intelligent agent contracts on Phala Network, allowing AI to securely and autonomously execute smart contract operations. With Phala’s toolkit, users can easily create, manage, and govern AI agents via decentralized autonomous organizations (DAOs), while building incentive-driven agent service networks.
Summary: Phala Network simplifies Web3 interaction and promotes AI-driven smart contract applications by serving as an AI execution layer, reducing Web3 complexity and driving broader adoption.
2. Team & Investment Info
Team:
Marvin Tong, Co-founder & CEO, holds a master's degree from Communication University of China. He was previously a product manager at Tencent and Didi.
Hang Yin, Co-founder & CTO, also co-founded and led development of Bitcoin Gold. He graduated from Fudan University.
Zhe Wang, Co-founder & COO, is a veteran smart hardware developer with a master's degree in computer science from Huazhong University of Science and Technology.
Funding:
In September 2020, Phala Network raised over $10 million from investors including IOSG Ventures, Waterdrip Capital, SNZ Holding, Incuba Alpha, Candaq Fintech Group, Bishijie, Ruixin Capital, InfiChain, Exoplanet Capital, and Blue Mountain Labs.
3. Social Media URLs
X: https://x.com/PhalaNetwork
Telegram: https://t.me/phalanetwork
Discord: https://discord.gg/phala-network
YouTube: https://www.youtube.com/@PhalaNetwork
4. Token Info
Token Symbol: PHA
Total Supply: 1,000,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: 0x6c5bA91642F10282b576d91922Ae6448C9d52f4E
Token Distribution:
Miners: 70% (initial daily reward: 720,000 PHA; reduced by 25% every 180 days)
Parachain Auctions: 6.9%
Community Development: 2.1%
Team: 5% (20% unlocked at TGE, then 5% every 16 months)
Project Treasury: 15% (fully unlocked)
Testnet Incentives: 7.1%
5. Related Links
Official Website: https://phala.network/
GitHub: https://github.com/Phala-Network/
LinkedIn: https://www.linkedin.com/company/phala-network/
Other Info: https://docs.phala.network/