CHIP: Phenom Poker’s New In-Game Currency

Why Phenom Poker Switched to CHIP

At the end of August 2026, Phenom Poker completed the transition to the new game currency, CHIP. This is an ERC-20 token on the Base network*.

*This is a second-layer Ethereum network designed to process transactions faster and more efficiently than the main ETH network.

Each CHIP is backed 1:1 by the US dollar, and the reserve balance remains transparent and verifiable at all times.

When you deposit stablecoins into your account, the required number of CHIP is instantly issued and deposited directly into your wallet. A similar process takes place at a traditional live casino cashier: you deposit funds and receive game chips in exchange.  When it's time to withdraw funds, you receive them back in the cryptocurrency and network of your choice.

Before the update, Phenom's gaming infrastructure ran on the Polygon blockchain network, and staking used Base. As a result, players often reached out to customer support for help converting their funds into tokens on the Polygon network. CHIP solves this problem automatically and eliminates the need for players to handle conversion themselves.

What  changed for players

The transition to CHIP was automated. After the update, players only needed to log into their accounts and confirm the migration, with their existing balance then automatically transferred to the new system.

Key changes following the transition:

• One wallet for gaming, staking, and withdrawals instead of two.
• Base network instead of Polygon + Base.
• No need to transfer funds between networks before withdrawal.
• Gas fees are covered by Phenom, so players don't need to worry about paying for blockchain transactions separately.

Working on a single network with one wallet has resolved issues with interruptions during gameplay. Auto top-ups in cash games and tournament registrations are now processed almost instantly, with virtually no delays.

CHIP and PHNM: why Phenom needs two tokens

The launch of CHIP doesn’t mean that the PHNM token is being replaced. Although both belong to the same ecosystem and operate on the Base network, they are separate assets with different functions.

PHNM continues to serve as the staking token and provides additional benefits to holders, while CHIP is used directly for gameplay.

Therefore, CHIP is neither a competitor nor a replacement for PHNM. Their roles are clearly separated: CHIP is used for gaming balances and transactions, while PHNM remains the token of the Phenom ecosystem.

What’s Next for Phenom Poker Following the Transition to CHIP

Now that CHIP and the migration to Base have been implemented, Phenom can use the new infrastructure as a foundation for future updates. In its official announcement, the poker room outlined several areas for further development: 

• Increased deposit methods.
• Jackpots.
• New game formats.
• PHNM Lending.
• First tournament series.

The main impact of the CHIP launch for players is a lower barrier to entry into crypto poker. Previously, Phenom’s infrastructure was split between Polygon and Base, whereas now gameplay, staking, deposits, and withdrawals all operate through a single network and one wallet. 

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