Pharaoh (PHAR): Uses, Supply and Risks

Pharaoh (PHAR) is the token associated with Pharaoh V3, a decentralized exchange on Avalanche. The exchange is described as using concentrated liquidity, which lets liquidity providers choose price ranges for their funds rather than supplying liquidity across all prices. Its intended users include traders and liquidity providers who are comfortable with decentralized finance risks.

Pharaoh also describes its incentive design using an x(3,3) model and refers to xPHAR. These terms relate to the project’s token and incentive system, but public sources do not establish all the mechanics, such as how users obtain xPHAR or what rights it provides. Treat PHAR as a project-linked cryptoasset, not as a claim on company revenue or a guaranteed source of rewards. Check Pharaoh’s current documentation before relying on any specific token feature.

PHAR is connected to the Pharaoh V3 exchange and its ve (3,3) incentive approach. The project’s description also names xPHAR, but does not specify enough detail to confirm whether holding, locking, staking, or voting with PHAR is required for particular benefits. Do not assume that using PHAR automatically earns rewards or gives governance rights; confirm the current rules in the project’s own materials.

Pharaoh V3’s concentrated-liquidity design is aimed at people providing liquidity and trading digital assets on Avalanche. Providing liquidity can involve choosing a price range and managing positions as prices move. A position may earn trading fees, but fees are not guaranteed and can be outweighed by losses or other costs. PHAR’s association with the exchange does not remove those risks, and the token’s usefulness depends on how the project’s contracts and incentive system operate.

As of 2026-11-05, PHAR’s price was about $0.0517, with a market capitalization of about $2.5 million and a fully diluted valuation of about $28.4 million. These are snapshots, not stable values. Market capitalization is an estimate based on the circulating supply and price; fully diluted valuation estimates the value if the maximum supply were in circulation at that price.

Reported circulating supply was about 47.5 million PHAR, total supply about 549.6 million, and maximum supply 1 billion. The gap between circulating and maximum supply means additional tokens could become available over time, though the timing and distribution are not established here. Supply figures and market measures can change, and different sources may report them differently. Check current token information before making decisions, and do not treat past performance or valuation figures as a forecast.

PHAR is issued on Avalanche. It is not identified here as the native token of a blockchain, so it should be distinguished from AVAX, Avalanche’s native asset. Public sources do not confirm that PHAR is issued on other networks. If you encounter a token with the same name or ticker on another chain, do not assume it is the same asset.

For a transfer or wallet setup, select the Avalanche network supported by the wallet and verify the token’s contract address against Pharaoh’s official project information. A token ticker alone is not enough to identify an asset, and sending funds to an incompatible network or incorrect address can result in permanent loss. Avoid relying on search snippets or unofficial messages for contract details. If you use a centralized exchange, check which network it supports for PHAR deposits and withdrawals before transferring.

PHAR carries the risks common to small, volatile cryptoassets, including sharp price changes, low or uneven liquidity, and the possibility that you may not be able to sell at a price you expect. The exchange also involves smart-contract and operational risks. Concentrated-liquidity positions can lose value as prices move, and providing liquidity may expose users to impermanent loss, fees, and transaction costs. Incentives or token mechanisms can change, and additional supply may affect the market.

For storage, use a wallet that supports Avalanche and the relevant PHAR token contract. Keep your recovery phrase private and offline, never share it with a person claiming to provide support, and verify transaction details before signing. A hardware wallet may reduce exposure to some online threats, but it cannot prevent mistakes or smart-contract losses. If you hold PHAR through a custodian, understand its withdrawal rules and counterparty risks.