pheons are mostly are created primarily through the in game store.
you can pay crystals which has two sources, gold or real money.
real money and gold are both measurements of value.
an item in the auction house costs gold, AND pheons. That means the game defines its value in two currencies. you can mathematically convert those currencies to one currency to make it clearer the actual value of that item.
for example the gold value of a t3 accessory that costs 30 gold and 15 pheons is
30+ 150(cost in crystals) * 650g(current crystal bundle cost)/95(crystals in a bundle)
or 30g+1084g
in real money, thats approx 3.85$ us
in crystals thats approx 165 crystals
its also important to note, the only actual gold removed is in the gold/crystal exchange tax. And only if the player uses gold, and not real money. when you buy crysals, most of that gold is transfered to another player. If it was just about a gold sink, they could have simply added a tax.
back to my main point, they set a value, in pheons, which can be purchased via gold or real money that is a very inaccurate representation of the value of items. is a 20 quality t3 ring with non meta engravings worth 1000+ gold? or 4 dollars? not really.
andin the long run this will reduce what people are willing to buy, which will reduce what people bother selling. If you look right now for an off color accessory, say a domination earring, with 3 drops of ether / 3 vital point, you probably wonât find it, and if you do, it will have a hidden base price of 1000+g
which is an arbitrary cost which doesnt represent the actual value people are willing to pay for the item.
they basically said trading t3 accessory items is a 3.75 dollar cost (or whatever 3.75 is worth in gold at any moment)