Phantasma (SOUL) Price

SOUL is the native governance token of Phantasma Phoenix. Phantasma is a Layer 1 blockchain for gaming, digital assets, and decentralized applications that uses a dual-token system in which SOUL and KCAL have separate roles. SOUL serves roles in governance, staking, voting, storage quotas, and KCAL generation, whereas KCAL is the fuel token consumed when executing transactions and other onchain operations. Separating the governance asset from everyday resource fees means that users normally consume KCAL, rather than spend SOUL directly, when paying for network resources.

Holding SOUL can be connected to Phantasma's governance and storage-quota mechanisms, while staking SOUL grants voting power and generates KCAL. Staking locks SOUL into a network-participation relationship, and KCAL generation is the network-resource output provided by that relationship. Generated KCAL can be used for transactions, cross-chain operations, NFT minting, contract deployment, and other operations that consume network resources. SOUL's governance and staking functions are therefore connected to KCAL's payment function, but they are not the same token, and operating fees are not deducted directly from a SOUL balance.

The core difference between SOUL and KCAL is their use: SOUL is a governance and staking asset, while KCAL is network fuel. Users can stake SOUL to generate KCAL, then use KCAL to pay the resource fees required to execute actual onchain operations. This design separates long-term network participation from immediate usage. The amount of SOUL staked affects the KCAL that can be generated, while specific operations consume KCAL. As a result, even users who hold SOUL still need sufficient available KCAL to complete onchain operations that require fees.

Under the rules listed in the official documentation, each 1 SOUL staked generates 0.002 KCAL per day. Daily generation can be expressed as: daily KCAL = amount of staked SOUL × 0.002, where “amount of staked SOUL” is the amount participating in staking, not the entire SOUL balance in a wallet. For example, staking 100 SOUL generates 0.2 KCAL per day under this basis. This calculation only describes the generation rate; it does not represent a fixed fiat value or show that the amount will necessarily cover any operation. Whether it is sufficient also depends on the KCAL fee for the specific operation and the currently available balance.

New SOUL supply is described in two different terms: first, relative inflation calculated at 3% per year; second, a fixed total of 125,000 SOUL in Soul Master rewards each month. The former changes with the applicable supply base, while the latter is allocated according to the monthly total stated in the documentation. They should not simply be added together as one fixed annual issuance figure. The documentation states that this newly issued SOUL is used for arrangements involving core contributors, block producers, and ecosystem incentives. These describe the source and destination of new tokens; whether they enter tradable circulation also depends on recipients' holding, distribution, and subsequent trading behavior. Issuance is therefore not the same as an increase in circulation at the same point in time.

Soul Master is a category Phantasma establishes for higher-tier SOUL staking participants and is part of its long-term holder incentive system. Entering this category requires meeting the staking eligibility set by the onchain rules; the official documentation summarizes this here as a higher staking threshold. The category is connected to fixed rewards totaling 125,000 SOUL per month. Eligibility is the prerequisite for participating in this reward arrangement, but the specific amount received must still be determined by current onchain eligibility and distribution rules. It does not mean that merely holding SOUL automatically earns a fixed return.

Phantasma's onchain transaction fees are paid in KCAL. When a user initiates an operation that requires network resources, KCAL is the fee token; the official documentation states that 50% of every transaction fee is burned. Accordingly, a paid transaction fee is first denominated in KCAL, after which half of it is removed from KCAL supply under this rule. This burn mechanism applies to KCAL rather than directly burning SOUL. It also depends on transactions actually occurring and being paid for, so it does not establish any outcome for SOUL or KCAL price, returns, or supply.

SOUL voting power is linked to staking, allowing holders who meet the relevant participation conditions to take part in governance related to Phantasma network development. Voting power is a participation right in protocol governance, not ownership of a company's assets or profits. SOUL therefore does not represent corporate equity. Holding or staking SOUL does not itself confer dividends, shareholder status under corporate law, or redemption rights; the network functions that can be claimed are limited to the protocol rules and arrangements actually applicable.