Token

Hybrid

Stella

Daily

A top 5 crypto exchange, Phemex, is emerging as one of the leaders and outliers in the industry by bringing together the best attributes of CeFi and DeFi through its Web 3.0 ecosystem. With the imminent launch of Phemex Token, its expanding community can anticipate an inclusive trading platform that empowers users with opportunities to participate and share in the platform's success actively.&nbsp; 
Cryptocurrency trading is evolving to offer users the benefits of Traditional Finance (TradFi), such as security, and the focus on innovation and accessibility Decentralised Finance (DeFi) offers. By bringing together the advantages of centralised (CEX) and decentralised (DEX) exchanges, hybrid exchanges allow investors to trade on-chain without intermediaries while maintaining the security and liquidity a CEX offers. 
Crypto Daily spoke to Stella Chan, COO at Phemex, to explore the topic of hybrid exchanges.<a href="https://phemex.com/register?group=4786&amp;referralCode=FW6SF5"> Phemex</a> is a top-five crypto exchange that has embraced decentralization to pioneer a hybrid trading model. Through its Web 3.0 ecosystem,<a href="https://phemex.com/web3/phemexia?group=4786&amp;referralCode=FW6SF5"> Phemexia,</a> the exchange promises to combine decentralized decision-making with centralized efficiency. 
&nbsp; 
Phemex is now about to embark on what could be one of the most thrilling weeks in its history, gearing up to elevate its meticulously crafted Web 3.0 ecosystem with the launch of the <a href="https://phemex.com/web3/pt?group=4786&amp;referralCode=FW6SF5">Phemex Token</a> on November 30th. Positioned as a gateway to this dynamic ecosystem, the token is set to deliver a myriad of advantages and use cases, ranging from lucrative staking yields and trader bounty rewards to active participation in governance through the Phemex DAO.&nbsp;&nbsp; 
During her conversation with Crypto Daily, Stella delved into Phemex's fourth anniversary, the transition to a hybrid semi-centralized exchange, the impending launch of Phemex Token, and the exchange's vision for the future. 
<h2 id="phemex-celebrates-its-fourth-anniversary">Phemex Celebrates its Fourth Anniversary</h2> 
This week, Phemex celebrates its four-year milestone, and the team is proud to serve a global user base of 5 million to achieve a trading volume of over $10 billion. We asked Chan to tell us more about what contributes to Phemex’s emergence as a critical exchange in the crypto ecosystem: 
<blockquote> 
 “Our commitment to providing users with an efficient and user-friendly platform has always been a priority. We empower traders of all expertise levels to capitalize on market opportunities, and we provide various lucrative features for a diverse array of traders from newbies to institutional clients.” 
</blockquote> 
In addition to its expert team, Phemex believes that security is crucial to its success. The exchange is one of the first to implement Merkle-tree proof-of-reserves. Phemex updates its reserves monthly to ensure its users can always verify the secure storage of their assets. It also publicizes a portion of its cold wallets so that users can verify not only proof of reserves but proof of solvency as well. 
<h2 id="phemex-transitions-from-cex-to-semi-centralised-exchange">Phemex Transitions From CEX to Semi-Centralised Exchange</h2> 
Crypto Daily also discussed Phemex’s transition to a hybrid semi-centralized exchange as it is unconventional and ground-breaking for a centralized exchange to move towards decentralization.&nbsp;&nbsp; 
<blockquote> 
 “In my view, the distinctive aspect of Phemexia transcends its identity as merely another platform—it stands as a genuine game-changer, skilfully merging the strengths of CeFi and DeFi to create an innovative Web3 experience. Our goal is to integrate decentralized mechanisms into existing centralized exchange operations, establishing a Web 3.0 ecosystem that goes beyond financialization. This ecosystem encompasses essential elements of a decentralized society, including digital identity, trust-building, and permissionless collaboration.” 
</blockquote> 
<h2 id="how-users-will-benefit-from-phemex-s-hybrid-model">How Users Will Benefit from Phemex’s Hybrid Model</h2> 
Naturally, users are curious about how the exchange’s plans will ultimately benefit them. Stella emphasizes that users would assume the role of partners and transcend beyond just traders as Phemex embarks on its hybrid mission. 
Users can enjoy the convenience and liquidity typical of a CEX while actively participating in the self-governance provided by a DEX. This pioneering strategy enables users to take an active role in shaping the direction of our platform, creating a collaborative environment that integrates the strengths of both decentralized and centralized realms. 
Chan and the team behind Phemexia have every reason to be proud of what they have built so far. Their community surpassed 21,000 members in a short period of time, proving that they answered a genuine need of the crypto ecosystem. Being early joiners of this community already provided them with exclusive opportunities and rewards.&nbsp; 
<h2 id="phemex-launches-native-platform-token">Phemex Launches Native Platform Token</h2> 
Part of the exchange’s Web 3.0 endeavors involves the launch of its highly anticipated native platform token. The TGE, scheduled for November 30th, will mark a significant milestone in the platform's evolution.&nbsp;&nbsp; 
Phemex is one of the few top exchanges currently without a native token, but this is not without reason. According to Chan, Phemex waited until this moment to introduce a native token as the team wanted to deliver a product with long-lasting value and a use case supported by a strong foundation. 
To that end, the<a href="https://phemex.com/web3/pt?group=4786&amp;referralCode=FW6SF5"> Phemex Token</a> will be a critical asset within its Web 3.0 ecosystem by delivering various functionalities such as covering gas, trading, deposit, and withdrawal fees.&nbsp; 
Furthermore, users will be able to stake their PT to earn high APR potential of up to 1,000% and participate in revenue-sharing. For Phemex, PT extends beyond the introduction of a mere platform token. It offers benefits intricately linked to a solid foundation. 
&nbsp;&nbsp; 
Chan explained how the Phemex Token fits into the ecosystem: 
<blockquote> 
 “PT is a crucial element of Phemexia, and we have built it to empower its holders in the long run. We pledged to share a portion of our contract trading fee revenue with our community members. By staking PT, they will be able to generate high yields and make extra earnings, sharing in our success. In the near future, staking will also enable PT holders to earn vePT, our governance token. Possessing vePT will enable users to wield voting rights within the Phemex DAO, thereby participating in decision-making processes related to platform operations, growth strategies, partnerships, and treasury management. We are confident that our community will embrace PT as a token symbolizing ownership in our unique Web 3.0 ecosystem.” 
</blockquote> 
<h2 id="phemex-in-the-future-having-an-edge-over-the-competition">Phemex in the Future: Having an Edge Over the Competition</h2> 
One of the questions on users’ minds relates to Phemex’s vision for the future. We asked Stella to tell us more about what the exchange envisions and if it thinks it would have a competitive edge by introducing a hybrid model now.&nbsp; 
Stella comprehensively explained the exchange’s vision and goals by introducing a hybrid exchange model. 
<blockquote> 
 “Over the past four years, we've been a steadfast partner for users worldwide in cryptocurrency trading. By spearheading the hybrid exchange movement, Phemex is set to revolutionize the trading landscape, opening the door to a future where users enjoy increased autonomy and influence. As pioneers in integrating both CEX and DEX features, we remain committed to refining our platform, introducing new and innovative features, and growing alongside our community.” 
</blockquote> 
As the Phemex Token launch approaches, Chan extends an invitation to crypto enthusiasts, urging them to explore the trading platform, familiarize themselves with its features, and<a href="https://phemex.com/web3/pt-to-the-moon?group=4786&amp;referralCode=FW6SF5"> join them</a> in the venture of shaping a new era in the crypto space.&nbsp; 
Phemex ended the interview with a very simple yet encompassing statement summarising their ambitious plans ahead: 
<blockquote> 
 “When we say "to the moon," we mean it, and we're thrilled to further advance our unique ecosystem.”&nbsp; 
</blockquote> 
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Phemex Breaks Ground with Innovative Hybrid Exchange Model and Prepares to Launch Long-Awaited Native Platform Token

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