Phenom Poker is governed by The Phenom Token, an ERC-20 token which also doubles as a Revenue Share Token, one of the first of its kind. Token holders will hold a stake in both the revenue and future direction of Phenom Poker.
There is an Initial Supply of 50 million Phenom Tokens and 50% of that supply will be allocated to the player community. Tokens never have to be purchased but rather will be awarded to players who play any of the offered games on Phenom Poker including Ring games, Sit N Gos, or MTTs (Multi-Table Tournaments). The primary distribution method is through a tiered reward system that progressively rewards more tokens for additional gameplay.
*Note: If there are any Founder, Investor, or Promotional tokens that have not been allocated,  they will be removed from circulation, thereby reducing the total supply of tokens.
Phenom Poker generates revenues similar to any other online poker site, by charging a small fee for hosting games known as rake. Holders of the Phenom Token are entitled to 50% of the net rake collected by the site.
This revenue share is automatically paid to token holders weekly via stablecoin (USDT) based on the previous week's rake.

Phenom Tokens may be redeemed at any time in the Phenom Poker app in exchange for stablecoins (USDT). The price-per-token will be set weekly and will be based on the revenues generated by the site in the prior 4 week period using the following formula:

130X net rake collected over prior 4 weeks/Outstanding tokens

Example: There are 50 million minted tokens. In the prior 4 weeks, Phenom Poker generates $800,000 in net rake. This would result in a price of $2.08/token (130X800000/50000000)

I just want to earn rakeback in cash

Our reward system pays out in Phenom Tokens because we believe it's much more exciting to earn a revenue-earning portion of the site than just cash. However, since Phenom Tokens are always immediately redeemable for stablecoin, you are free to redeem your tokens for cash at any time within the Phenom Poker app.