Phoenix PHB Utility Mechanisms, Fiat Onramp, & Consortium Buying

Data Services Onramp

Initial Onramp Design for Data Services
  • The end user, which could be an enterprise, business user or partner would be paired with a service provider or agent that can service them contractually. This would depend on geography and location but may be just Phoenix Core Dev if the user is Asia-based.
  • The end user will receive “credits” for a fixed payment sum of fiat/stablecoin in return that they will be able to use with Phoenix Oracles/DataX. These credits will work on-chain, and are likely to be pegged 1 credit: 1 USD, working effectively like a stablecoin. The purpose of credits is to separate data services pricing and settlement with PHB, which price is dynamic.
  • The service provider will be in charge of sending the balance as a stablecoin (USDT/USDC/BUSD) to the algo execution firm (purchasing agent), which currently for most purposes is Principle68, our market making partner.
  • The sum is then separated into average cost basis (estimated around 85%) and margin (around 15%). Cost basis refers to the cost of the data from the data partners. The margin refers to the margin or discount that Phoenix DataX can obtain as a “wholesale” or distribution role.
  • The cost basis will be used to algorithmically execute TWAP (time-weighted average price) buy orders on the exchange and ultimately converted fully into PHB, which will enter the Phoenix Ecosystem Reserve. The margin will directly be sent as stablecoin to the reserve to help hedge principal risk.
  • Phoenix Ecosystem Reserve will use its own fiat/stablecoin balance sheet to transact with 3rd party data partners — in this way it takes a form of principal risk.
  • Effectively one can see how this may help ecosystem growth as well as token value.

Consortium Buying

Initial Onramp Design for Data Services (Consortium Buying)

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