--- title: "Phoenix" url: "https://radix.wiki/ecosystem/phoenix" version: "1.3.0" updated: 2026-08-14 last_verified: 2026-08-14 license: CC-BY-4.0 license_url: "https://creativecommons.org/licenses/by/4.0/" --- # Phoenix | | | | --- | --- | | **Type** | Deflationary Token | | **Symbol** | PHNX | | **Status** | 🟠 Dormant (validator unregistered, no updates since February 2025 – see below) | | **Website** | [phoenixradix.com](https://www.phoenixradix.com/) | | **Category** | DeFi / Token | | **Network** | Radix Mainnet | | **Initial Supply** | 699,296,180 PHNX | | **Supply (1 Aug 2026)** | 529,758,843.55 PHNX – 24.2% burned, minting permanently disabled | | **Launched** | April 2024 | ## Overview [Phoenix](https://www.phoenixradix.com/) is a deflationary token on Radix built around a multi-layered burn mechanism. Unlike typical memecoins, Phoenix generates revenue through a professional [validator node](https://dashboard.radixdlt.com/network-staking/validator_rdx1sde3jp4g6ldh2mg4af0v0sq3c8en4agk3p7p63zcv58l5h05sej4kh), an external investment fund, and LP trading fees – all of which feed into continuous buyback-and-burn cycles that reduce the circulating supply over time. The project aims to create a self-sustaining value engine where multiple independent revenue streams drive permanent supply reduction, distinguishing it from tokens that rely solely on transaction taxes or manual burns. PHNX is available across Radix decentralized exchanges – including [Ociswap](/ecosystem/ociswap), [CaviarNine](/ecosystem/caviarnine) and [DefiPlaza](/ecosystem/defiplaza), and via the [Astrolescent](/ecosystem/astrolescent) aggregator. ## Burn Mechanisms Phoenix employs four distinct mechanisms to reduce token supply: - **Voluntary Burns** – community members can burn PHNX tokens at any time, permanently removing them from circulation - **LP Trading Fee Burns** – a portion of fees from PHNX liquidity pools on [Ociswap](/ecosystem/ociswap), [CaviarNine](/ecosystem/caviarnine), and [DefiPlaza](/ecosystem/defiplaza) is used to buy and burn PHNX - **Trading Profit Burns** – profits from the project's active trading operations fund periodic buyback-and-burn events - **Validator Reward Burns** – staking rewards earned by the Phoenix validator node are used to buy PHNX on the open market and burn it These four pillars operate independently, ensuring that supply reduction continues even if one revenue stream underperforms. The team initially seeded LP pools with $10,000. ## Investment Fund A distinguishing feature of Phoenix is its external investment fund, which brings capital from outside the Radix ecosystem. Profits from external market trades are converted to XRD, used to purchase PHNX tokens, and burned. This creates a net inflow of value into the Radix ecosystem rather than simply redistributing existing liquidity. ## Team Phoenix is run by a pseudonymous team distributed across Vietnam, London, and other locations: - **The Cador** – Co-founder, lead trader - **Corsican Emperor** – Co-founder, ambassador and community relations (London) - **Asa** – Developer and treasury manager - **Cowboy Bebop** – Education and innovation lead - **Tyrex** – NFT creation and trading ## Status on Ledger (as of 1 August 2026) This page recorded Phoenix as active. Read against the ledger and the public market on 1 August 2026, the project is better described as **dormant**, and the evidence sits in three places. **The validator is unregistered while still holding stake.** [PHOENIX NODE](https://dashboard.radixdlt.com/network-staking/validator_rdx1sde3jp4g6ldh2mg4af0v0sq3c8en4agk3p7p63zcv58l5h05sej4kh) reads `registered: false` at epoch 331231 with **7,807,033 XRD still delegated to it**. An unregistered validator is outside the active set: it proposes nothing, and the XRD delegated to it earns no [staking emissions](/contents/tech/core-concepts/staking) until its owner re-registers it or the delegators unstake. The stake-buyback mechanism this page describes – node earnings used to buy $PHNX on the open market – has no earnings to draw on in that state. **The burn is real and, as of 1 August, had stalled.** The [$PHNX resource](https://dashboard.radixdlt.com/resource/resource_rdx1t5z0jeyg2k9746kyvgcvg6pqsc0zhg0hjnvtsq03j77ezylv9pyljk) shows a total supply of **529,758,843.55 PHNX** against the 699,296,180 issued at launch – 169,537,336 tokens burned, or 24.2% of the initial supply. Minting is set to `deny_all` and is not mutable, so the supply is permanently capped and can only fall further; the deflationary claim in the section above is, on this evidence, accurate. The burn totals have not moved the market: on Ociswap the token quoted about $0.0000038 with roughly $800 of pool liquidity, a circulating market capitalisation near $1,940, and no trades in the preceding 24 hours. **The public presence has stopped.** The newest dated commitment on [phoenixradix.com](https://www.phoenixradix.com/) is "Phase 1: The Great Burn", scheduled for completion by February 2025, and the site publishes no burn statistics or updates after it. The project's Telegram handle has since been recycled by an unrelated party (see the section below). The status in the infobox has been changed to 🟠 Dormant on this basis. Anyone still delegating to PHOENIX NODE should check its registration state before assuming they are earning. ## Ledger Re-Read, 14 August 2026 The section above was written from a 1 August reading. Re-read at epoch 334974 on 14 August 2026, one of its conclusions no longer holds and the other two have a trend attached. **The burn is not finished.** The [$PHNX resource](https://dashboard.radixdlt.com/resource/resource_rdx1t5z0jeyg2k9746kyvgcvg6pqsc0zhg0hjnvtsq03j77ezylv9pyljk) now reports a total supply of **529,508,843.548 PHNX**, down from 529,758,843.55 a fortnight earlier: **250,000 PHNX burned between 1 and 14 August 2026**, with no public announcement accompanying it. Cumulative destruction is 169,787,336.45 tokens, 24.3% of the 699,296,180 issued at launch. Minting remains `deny_all` and immutable, so the supply can still only fall. **The stake is draining.** [PHOENIX NODE](https://dashboard.radixdlt.com/network-staking/validator_rdx1sde3jp4g6ldh2mg4af0v0sq3c8en4agk3p7p63zcv58l5h05sej4kh) still reads `registered: false`, and the XRD delegated to it has fallen from 7,807,033 on 1 August to **7,595,958.86 XRD** — 211,074 XRD withdrawn in thirteen days from a validator that has been outside the active set, and therefore earning nothing, throughout. **A 100% fee is queued behind re-registration.** The validator carries an unexecuted `validator_fee_change_request` of `new_fee_factor: 1` — a 100% validator fee — effective from epoch 297632, against a current `validator_fee_factor` of 0.1. The request is inert while the node is unregistered, but it takes effect the moment the owner re-registers, at which point every emission earned on delegated stake would go to the validator owner rather than the delegators. Anyone still delegating here should read the fee before assuming a re-registration would pay them. ## Telegram Handle No Longer the Project's The Telegram handle `@phoenix_xrd`, cited for this project on this page until August 2026, no longer belongs to it. Read on 1 August 2026, it resolved to a channel created 29 June 2026 with one subscriber, no description, and a single post styled as a [Collab.Land](https://collab.land) token gate – "Click below to verify your wallet and gain access" – whose button leads to `@CollabLandlBot`. That is not [@collablandbot](https://t.me/collablandbot), which Collab.Land's documentation names as [its only legitimate Telegram bot](https://docs.collab.land/help-docs/FAQ/join-tg-group/). The link has been removed from this page; eight other Radix project handles were found in the same state, and are listed at [Recycled Telegram Handles](/contents/resources/recycled-telegram-handles). ## External Links - [Phoenix – Official Website](https://www.phoenixradix.com/) - [Phoenix Validator – Radix Dashboard](https://dashboard.radixdlt.com/network-staking/validator_rdx1sde3jp4g6ldh2mg4af0v0sq3c8en4agk3p7p63zcv58l5h05sej4kh) - [Phoenix – RadixList](https://www.radixlist.com/item/phoenix)