Phenom Poker: PHNM Staking and Rakeback Reform

Why Phenom Poker Undertook Reform

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In early January 2026, the Phenom Poker blog published two lengthy articles dedicated to major changes to the crypto poker room and its token. The essence of the reform boils down to one thing: incentivizing long-term PHNM staking.

From the platform's launch, the token effectively served as a cash substitute for most players. Received PHNM were almost immediately exchanged for USDT, with no incentive to hold on to it.

The problem was that the only buyer of the token was the Phenom Poker treasury. The poker room was obligated to buy back PHNM at any time, regardless of its own revenue. This player behavior made it impossible to properly plan cash flows and invest in development.

As a result, decentralization progressed extremely slowly. For a small poker room like Phenom Poker, this model proved unviable.

Escalator: New PHNM Staking Logic

The Phenom Poker team decided to build an updated system around a simple principle: the longer a player holds a token, the higher their reward.

The new PHNM system offers two staking options:

1. Flexible
2. Fixed

The mechanics are different, but the goal is the same — to encourage long-term token holding and increase rewards.

Flexible, Unlocked Model

In this option, tokens are not frozen. Players can exchange PHNM for USDT at any time without losing access to their funds. Furthermore, holding a token earns a growing multiplier: the starting value is 0.25x, which gradually increases the longer the token is held.

Staking with Lock: Instant Boost

An alternative option is to voluntarily lock your tokens for a fixed period of 4 to 104 weeks. In exchange, you immediately receive a maximum multiplier of 1.50 for the entire period. This is a quick way to reach the maximum reward level without waiting.

Locked PHNM cannot be exchanged for USDT until the end of the staking period. After the staking period ends, the tokens are unlocked, and the exchange request is processed within 7 days.

Loyalty Program Changes

The rakeback percentage at Phenom Poker is now directly dependent on the number of tokens staked. Effectively, rakeback is becoming part of the tokenomics, rather than simply a fixed payment.

Community Reaction

The announcement of the new PHNM model sparked heated discussions on social media. The most common complaint was that the system seemed overloaded and difficult to understand.

Haralabos Voulgaris articulated his skepticism bluntly. He believed the very idea of ​​a token was excessive: stablecoins could have been used instead of PHNM, and the rake could simply be shared with those who deposit funds on the platform. He noted that adding a token distracts from the main focus — developing a poker product, not on creating a token .

Todd Witteles was even more blunt. He was alarmed by the transformation of the traditional rakeback into a tradable asset which value depends on the market. In his interpretation, it appears to be a move away from direct payments in favor of a model where players are forced to assume additional risks.

Opinions were also divided within the Phenom Poker team and among its ambassadors. Brian Rust noted that token ownership itself is a stake in the project's success, and from this perspective, additional mechanics seem questionable.

Alec Torelli, on the other hand, defended the new approach, emphasizing that radical changes always feel unusual. He stated that the project is consciously abandoning "an improved version of old poker" and is attempting to build a fundamentally new model in which all ecosystem participants own an equal stake through the token.

Conclusion

The community's reaction has shown that the PHNM update has both serious critics and staunch supporters. But opinions agree on one thing: Phenom Poker is not ignoring the problems and is publicly trying to address them, even at the cost of complex and risky changes.

The viability of the new system will become clear later this year. The main criterion for success will be higher traffic and activity in the poker room.

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