How much is protocol 781 a phantom?

Could you please elaborate on the meaning of "protocol 781" and why you are referring to it as a "phantom"? Is it a specific blockchain protocol, a token, or something else entirely? Furthermore, what criteria or metrics are you using to determine its level of "phantom-ness," and what does that term signify in this context? Additionally, could you provide any examples or comparisons to help me better understand what you mean by this question?