Joseph Cheong

You may have seen the @PhenomPokerApp hate flying around X today. So I'm giving away $100 for new players to make an account and try the actual poker site! Some people (mostly not exposed to PHNM) are big mad. All sorts of FUD. Some reasonable criticisms, some complete nonsense. Let's break it down: Big changes were announced for the PHNM token: Free floating price, no more treasury-based redemption, and a migration to Base. Simply put, the old model of treasury based redemptions didn't work. IMO it was fundamentally flawed. When something doesn't work you have to change it to make a sustainable system. I predict the free-floating price of PHNM, when trading begins, will initially fall. Anyone that wants out is going to sell. But very few are focusing on what remains: A poker site build from the ground up, brand new code fully owned, thousands of players, and weekly rake generation of ~$100k. After the migration, PHNM tokens will still receive 50% of the weekly rake. The free market will decide what that is worth, but the fundamental mechanism remains, and is being overlooked in the midst of all this chirping. Personally I'm still bullish. The online poker space could be disrupted by Phenom. IMO it offers a unique opportunity to poker players and has grown substantially since launch. While I believe there will be short term pain in the migration to new token rules, I think they have a real chance at long term success. I've come on here a few times to throw out free hundos in order to sign up new players under my code and stack PHNM. I'm doing it again today. If you have never played Phenom and want to check it out, sign up under my code, DM me your username, and I'll give you a free $100 on the site: play.phenompoker.com/registe… *Must be a new player, sign up using my code, and have some kind of poker footprint to verify you aren't just trying to jack me for $100. I reserve the right to say yes or no to each person. Anyone that I have met personally will automatically qualify.