Token

Hybrid

Stella

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 Centralized exchanges have long been the go-to for crypto trading, but users are now seeking greater autonomy. Hybrid exchanges, which integrate decentralized elements, can offer solutions that satisfy all sides.
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 <img title="Presented by Phemex" src="https://cdn.thebittimes.com/images/2023/11/01/6f92a3135b7eb762eac3557162a7f22d.webp" alt="Presented by Phemex"> 
 Traditional finance (TradFi) prioritizes security, while decentralized finance (DeFi) champions innovation and accessibility. Combining the strengths of centralized (CEX) and decentralized (DEX) exchanges in hybrid exchanges can unleash innovation and enhance asset security. 
 With hybrid exchanges, users can trade directly on-chain without intermediaries, and more investors can leverage DeFi features while maintaining CEX security and liquidity. Phemex, a top 5 cryptocurrency exchange, has been embracing decentralization and pioneering a hybrid operational model. Its Web3 ecosystem combines decentralized decision-making with centralized efficiency, while its upcoming native token will allow holders to actively participate in the governance of the Phemex DAO. 
 Stella Chen recently assumed the role of chief operating officer (COO) at Phemex, transitioning from her previous position as chief marketing officer (CMO). In this interview, Chen delves into her new role, the future of crypto trading, and Phemex’s Web3 initiatives. 
 Cointelegraph: You were recently promoted to chief operating officer at Phemex. Could you tell us more about how your role has evolved and what responsibilities you have now in your new position? 
 Stella Chen: Yes, I recently assumed the position of chief operating officer at Phemex, transitioning from my prior role as chief marketing officer. I will continue to lead our marketing initiatives, with my primary focus shifting to overseeing the development and execution of strategic plans, as well as managing day-to-day business operations. At Phemex, we are on the verge of an exciting undertaking with the launch of our Web3 ecosystem. I am thrilled to be leading this groundbreaking initiative in my role as COO. 
 In addition, I will be mentoring other executives and managers within the company to help them grow in their respective roles. 
 CT: What sets Phemex apart from other crypto exchanges? 
 SC: Phemex is a top-five crypto exchange that provides substantial liquidity and a secure hub for various crypto transactions, including spot, contract, perpetual and savings accounts. We are proud of our platform and our unwavering commitment to innovation, which makes our technical architecture truly unique. Our primary goal is to provide users with the best trading environment, enabling them to trade efficiently and take advantage of market conditions. 
 In addition, the Phemex difference lies in our journey to become a hybrid semi-centralized exchange that integrates decentralized features. We aim to provide our users with a unique blend of both worlds, setting us apart in the industry. 
 <img title="Source: Phemex" src="https://cdn.thebittimes.com/images/2023/11/01/4212f4d1b889bb76161e13cc7567b1a9.webp" alt="Source: Phemex"> 
 Source: Phemex 
 CT: Phemex has a strong focus on Web3 projects. How do you see the integration of Web3 technologies shaping the future of crypto trading? 
 SC: Web3 empowers participants with the right to ownership, enabling them to exercise full control over their trading activities. This represents a shift to a more user-centric ecosystem. In this sense, crypto and Web3 are inherently interconnected. Crypto emerged with the vision of granting users agency to manage their finances without the need for intermediaries. Centralized exchanges have historically played a vital role in streamlining the crypto trading experience to be both smooth and user-friendly. However, we now stand at a pivotal moment where users seek greater autonomy. Integrating decentralized Web3 elements to meet these evolving expectations will shape the future of crypto trading. 
 CT: Can you provide an overview of the key milestones achieved in the Phemex Web3 initiative? 
 SC: We’ve dedicated over a year to this initiative, leveraging the collective expertise of our seasoned team, possessing over two decades of trading experience. Earlier this year, we unveiled the Phemex Soul Pass (PSP), a non-transferable ERC-20 token designed to authenticate the identity of its holder. We invited our community to mint their PSP, their gateway to our Web3 ecosystem, Phemexia. This ecosystem will soon be complete with a utility token and a governance token. 
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 Unlock exclusive perks with Phemex Soul Pass – a digital passport to Phemexia and Phemex DAO. Mint yours for free airdrops, reduced fees, and more. Join the journey towards a decentralized web! @Phemex_official [AD] pic.twitter.com/gyZ9ChFlok — Cointelegraph (@Cointelegraph) October 26, 2023
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 Phemexia currently has over 18,000 members, which is a significant achievement for us. We have rewarded our community with xPT airdrops and giveaways to maintain engagement and excitement. We are now inviting all users to participate in the Phemex Token to the Moon event, which offers exclusive early access to the Phemex Token. The launch of the PT token is on track for late November, and we are excited to move forward with this project. 
 CT: What is the purpose of this token and how does it fit into the Phemex ecosystem? 
 SC: The Phemex Token (PT) will serve as a utility token for our platform and will be an important asset within our ecosystem with various functions such as covering trading, gas, deposit and withdrawal fees on Phemex. In the future, its holders will also be able to use PT to stake and receive “vePT” governance tokens in return, allowing them to actively participate in PhemexDAO decision-making. 
 Our users also have the chance to participate in the early stages of our projects, and we invite our community members to contribute to the future of Phemex and grow alongside us. We prioritize building a strong foundation for our tokenholders, as evidenced by our decision to burn the fifth stage of xPT pre-mining and redirect all funds generated to the treasury. Our overarching goal is to provide our traders with a token that delivers long-term value. 
 CT: Phemex is building the Phemexia Web3 ecosystem. What can users and the crypto community expect from this initiative, and how will it improve their trading experience? 
 SC: As a centralized exchange embarking on a full Web3 ecosystem, we combine decentralized decision-making with centralized efficiency. This <a title="hybrid" href="https://thebittimes.com/tag/hybrid.html" rel="dofollow">hybrid</a> strategy allows our users to enjoy the convenience and liquidity of a CEX while also enjoying the autonomous governance of a DEX. Users are increasingly looking for more control, but they also value easy-to-use onboarding processes and advanced <a title="trading" href="https://thebittimes.com/tag/trading.html" rel="dofollow">trading</a> <a title="Category Features" href="https://thebittimes.com/features.html" rel="dofollow">Features</a> to ensure the utmost seamlessness in <a title="crypto" href="https://thebittimes.com/tag/crypto.html" rel="dofollow">crypto</a> <a title="trading" href="https://thebittimes.com/tag/trading.html" rel="dofollow">trading</a>. With Phemexia, we’re looking at DEX <a title="Category Features" href="https://thebittimes.com/features.html" rel="dofollow">Features</a> such as decentralized credit scoring, AMM liquidity provider integration and lending protocol, all under the assurance of a trusted exchange. 
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 CT: Phemex has robust security protocols and substantial liquidity. How do you plan to maintain these strengths while incorporating decentralized <a title="Category Features" href="https://thebittimes.com/features.html" rel="dofollow">Features</a> such as PhemexDAO governance? 
 SC: We are committed to maintaining the robust security protocols and extensive liquidity that are the foundation of Phemex. Our cold wallet system ensures the highest level of security for user funds, and our monthly updated proof of reserves tool allows users to independently verify the security of asset storage. 
 Incorporating decentralized features such as PhemexDAO governance will not change these important aspects. Users will experience increased autonomy through trusted DAO governance without compromising security. We are developing a secure DeFi stack that ensures a safe environment for users to engage with innovative products. Our transparent mechanisms will provide tools for independent verification, underpinning the future of Web3 with transparency and accountability. 
 CT: Looking ahead, what is your long-term vision for Phemex? 
 SC: My long-term vision for Phemex is embodied in the development of Phemexia. By seamlessly integrating centralized and decentralized solutions, we are uniting two seemingly disparate areas. 
 Phemexia is not just another platform. It’s a game changer that combines the best of CeFi and DeFi. As pioneers of this integration, we will continue to enhance our platform, introduce innovative features, and actively engage our community in the process. 
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 Learn more about Phemex
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Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/the-future-of-crypto-trading-is-hybrid-interview-with-phemex-tbt68567.html">https://thebittimes.com/the-future-of-crypto-trading-is-hybrid-interview-with-phemex-tbt68567.html</a>

The future of crypto trading is hybrid — Interview with Phemex

TheBitTimes

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