Phaeton Raises USD 1.5 Million within 24-hour of IEO Launch


Phaeton, a blockchain-based services company that offers sustainable investment options, launched its IEO on September 18. Within 24 hours of IEO, the project raised US $ 1.5 million, indicating considerable demand for such a new blockchain technology services company.

Phaeton’s IEO Phase 1 is currently live on two crypto exchanges, namely P2PB2B and LAToken. Here, users can purchase the native PHAE token which plays a vital role in the Phaeton ecosystem.

After Phaeton’s IEO campaign ends, PHAE Coins will be available for trading on the open market (buy and sell).

The second phase lists several other major exchanges namely OKEx, FTX, Bitfinex, Gemini and Kucoin. The Phaeton team is currently engaged and working with these latest exchanges.

Phaeton Technology has created a positive social impact platform that incubates, develops and collaborates with new and established business enterprises that address social and environmental challenges in line with the United Nations Sustainable Development Goals. The project aims to solve long-standing social issues using blockchain technology and to collaborate with all levels of business, government agencies, nonprofits, impact investors, philanthropists and technologists who want to bring about social change. Areas Phaeton investigated include:

  • Affordable housing and community development
  • Renewable energy and conservation
  • Carbon credits and climate change
  • health and wellbeing
  • Education and social infrastructure
  • Small businesses and microfinance
  • Sustainable products and agriculture
  • Supply chain management

Phaeton ecosystem and basic technologies

The Phaeton platform has an ecosystem providing users with access to a decentralized global marketplace. Its side chains enable independent dApps, facilitating customization, scalability and waiving high network fees providing multiple benefits to users. In addition, the protocol has been designed to make it convenient, secure and transparent for all stakeholders. The Phaeton ecosystem includes the following core technologies that power the platform and make it infinitely scalable and highly usable.

  • Phaeton blockchain: Phaeton Blockchain created its decentralized ledger system with a block size of 250KB (potential of one million transactions) and a creation time of five seconds. Phaeton Blockchain is based on the Delegated Proof of Stake plus Delegated Byzantine Fault Tolerance (DPoS + dBFT) consensus algorithm, dramatically improving energy efficiency. Phaeton remains an independent blockchain that provides its native platform to businesses, whether for monetary, transaction, data, or smart contracts. The ability of individuals to host a node is critical to the speed, infinite scalability, and security of Phaeton’s blockchain.
  • Phaeton Core: Phaeton Core is a single sign-on platform with multi-factor authentication and biometric identity validation for smart contracts, KYC and co-signing transaction authorization. Phaeton Core was developed to address the lack of trust in the cryptocurrency industry by authenticating everyone who interacts with the Phaeton Blockchain.
  • Phaeton smart card: Resembling a typical debit / credit card, the Phaeton smart card is a biometrically secure device that performs several functions. It includes identity authentication, multi-currency banking, and hard wallet storage for cryptocurrencies. As a result, it has tremendous reach in Retail Banking and Industry 4.0 applications.
  • Phaeton parts: The Phaeton Coin transaction model resembles Ethereum ETH Coin, which is applied when any of its ERC-20 tokens are used in its ecosystem, but in no way connected to Ethereum or any other platform. Phaeton Coins are also used for staking and as a reward for each delegate hosting a Phaeton Blockchain node within the Phaeton ecosystem. Phaeton has pre-mined 500 million coins with approximately 250 million Phaeton coins in circulation and approximately 250 million Phaeton coins in reserve.
  • Phaeton side chains: The Phaeton Blockchain platform is built on the consensus of a dPoS (delegated proof of stake) model. This Phaeton feature is different from the PoW (Proof of Work) models used by Ethereum and others. In addition, Phaeton’s Sidechain model is designed to allow an infinite number of projects or subsidiaries to create a sidechain on the Phaeton Blockchain. A Sidechain is a type of Blockchain that exists alongside its parent chain (Phaeton Blockchain). Thus, the sidechain can be defined as the “child chain”.

Phaeton Blockchain Authorizes New Projects

New startups are being created every minute, which is a great opportunity for Phaeton to tap into this ever-growing market and grow Phaeton’s business model exponentially. Phaeton helps existing businesses incubate ideas and develop an ecosystem around current products, tilting the market towards technology products incubated by Phaeton. Phaeton also provides mentorship, advice and seed capital to entrepreneurs and takes a capital position, enhancing Phaeton’s holdings and increasing the value of Phaeton coins. By attracting startups with new ideas, it is possible to come up with a “unicorn” idea that will disrupt the market.

New startups and projects will select Phaeton over other incubation projects, as the ecosystem offers a range of infinitely scalable and secure solutions that ensure greater market exposure and a greater user base.

New startups are drawn to the following Phaeton offering,

  • A network powered by interoperability to improve accessibility
  • The opportunity to create a public or isolated blockchain network
  • A secure environment (military grade) and infinitely scalable with delegated proof of stake
  • A truly decentralized governance model creating an impartial network
  • Faster hashing algorithm (1M + / tps) than popular alternatives such as MD5, SHA-3, secure against length extension attacks, parallelizable on multi-core architecture.

The vision and achievement of Phaeton Blockchain as a true market disruptor comes through the leadership of Chai Shepherd.

As co-founder and chief technology officer, Chai is committed to ensuring that the Phaeton Blockchain platform is robust and designed to adapt to current and future technological changes. Using his experience and leadership, Chai leads a team of highly talented and accredited technology experts and developers to deliver a future-ready Blockchain solution that combats the shortcomings of current Blockchain platforms, such as cost. high / unaffordable, scalability and interoperability.

The first round of the IEO is still in progress! Take some PHAE now



To learn more about Phaeton, visit

Social connections :









Media contact:

Contact Person: Chai Shepherd

Company name: Phaeton PTY LTD

E-mail: [email protected]

City: Perth

Country: Australia


Source: Phaeton

Opinion: The information in this article and the links provided are for general information purposes only and should not constitute financial or investment advice. We recommend that you do your own research or consult a professional before making any financial decisions. Please acknowledge that we are not responsible for any loss caused by any information on this website.