Phase secures $45 million backing as blockchain mainnet launches

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Phase blockchain launch & funding

Highlights

Phase secures a $45 million funding commitment from Eves, covering development and granting four years of operational runway with no outside investors.
Phase launches its blockchain mainnet and Phase Proxy service, enabling users to earn PHASE tokens by validating blocks and sharing smartphone internet connections.
Phase's AI computing service will launch in November, expanding to desktops and GPUs, with service revenue allocated for PHASE token purchases to reward node operators.

Mainnet rollout and funding plan

As reported by Cointelegraph, Phase says it is launching its blockchain on Thursday alongside Phase Proxy, a service that routes AI agents' web requests through internet connections shared via smartphones.

Phase says it has no outside investors, and Eves' $45 million commitment covers its first two years of development while adding another two years of runway. Eves says websites often block or rate-limit automated traffic from data centers, even when AI agents are acting on legitimate user requests, creating a growing obstacle as agents handle more tasks across multiple websites.

Cloudflare already allows website owners to manage AI traffic, and for new domains its settings block agent and training traffic on pages displaying ads. Eves founded Unlimit in 2009, and the payments company said in December 2025 that it served more than 50,000 businesses worldwide.

Smartphone rewards and AI service expansion

Users can join the Phase network through the Phase app and earn PHASE tokens by validating blocks and sharing their internet connection through the proxy service. Participation is adjusted based on battery level and connectivity, and Eves says current flagship smartphones can deliver about 35 to 45 TOPS of AI processing performance, allowing them to run smaller open-weight AI models locally.

Phase plans to launch its AI computing service in November, when smartphone users are expected to begin contributing computing power directly. A second service, also expected in November, is set to route requests across AI models, while the company also plans to develop its own model and expand beyond smartphones to desktops, servers and graphics processing units.

Part of the revenue from these services would fund PHASE purchases on the open market, which would then be used to reward node operators. The model ties token demand to service usage and positions the project at the intersection of blockchain infrastructure and distributed AI computing.

In our earlier article on the mounting strain on U.S. AI data center expansion, we highlighted how higher financing costs, construction delays, and power constraints are making ambitious buildout plans harder to deliver on schedule. We also noted that only a portion of planned projects are viewed as realistic, as cost overruns and local grid limitations add to investor skepticism about how quickly new compute capacity can come online.

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