PHALA
PHA Rank #436Price chart
What is PHALA?
Origins and infrastructure
Phala initially built a decentralized network of Trusted Execution Environment workers. The PHA token launched in September 2020 with a maximum supply of 1 billion units. In September 2025, the project adopted the Phala.com brand as it expanded into confidential AI infrastructure. The legacy Polkadot parachain was sunset during the November 2025 migration to Ethereum Layer 2. That transition consolidated asset flows, governance and compute incentives around the newer infrastructure.
Private computation
Phala Cloud deploys standard Docker applications into Trusted Execution Environments. These hardware-isolated environments protect application memory while computation takes place. The platform supports Intel TDX processors and NVIDIA confidential GPU computing for AI workloads. Remote attestation lets users inspect cryptographic evidence of the deployed environment. The open-source dstack software provides the deployment and verification framework. Supported workloads include private model inference and applications processing sensitive data.
Token and rewards
PHA holders stake through a contract on Ethereum Mainnet and receive the ERC-20 token vPHA. The receipt token provides Snapshot voting power and collateral for Phala Layer 2 compute participation. GPU operators use vPHA as required collateral and as a reward asset. Accumulated rewards increase the amount of PHA represented by each vPHA. Unstaking requires a 21-day delay before the underlying PHA can be claimed. Phala Layer 2 transactions pay gas in ETH.
Where to trade PHA
40 exchanges · top 10
Live spot quotes from connected exchanges
PHA funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.