Phemex Impressive Business Success Reflects Comprehensive Influence of Its Pioneering Hybrid Semi-Centralized Crypto Exchange Platform Released Earlier this Year

MILAN, Aug. 15, 2023 /PRNewswire/ -- Phemex, a leading crypto exchange platform, has revealed it has been inundated with numerous inquiries from many investment institutions, including industry leaders such as Paradigm and NGC, among many leading crypto exchanges, since officially announcing its hybrid semi-centralized crypto exchange platform in April this year. The new hybrid exchange model offers massive long-term advantages and combines the best aspects of centralized and decentralized exchanges while enhancing the transparency, accountability, security, and community involvement of the exchange. 

Although the hybrid semi-centralized transformation, released through the Phemex Soul Pass (PSP) system, was officially launched in April, the team was preparing for almost a year. Transaction volume more than doubled by 112 percent after the project launch event and the volume of PSP has reached nearly 5,000 holders through the invitation system, whitelist, and has reached a trading volume of 100,000 which mostly consists of core high-volume Phemex traders. In the early stages, Phemex is covering minting fees and a large number of airdrops will be given to all holders and the Company will carry out 100 Ethereum activities. After the initial introduction period, when the PSP minting threshold reaches 10,000 transactions, Phemex will adjust mining efficiency accordingly to ensure the system can handle the expected increase in trading volume. The sooner users obtain a PSP, the sooner the opportunity can be seized.

"Our hybrid semi-centralized crypto exchange platform model has quickly been embraced by many industry leaders who have already joined, especially those Phemex affiliate core partners who have all participated in the pre-mining stage," Stella Chan, Phemex CMO, commented. "We deeply appreciate this invaluable collaboration with our valued partners, including Bitbull, Cold Blooded Shiller, and Tealstreet, in sculpting our semi-centralized exchange that blends the transparency of decentralized exchanges with the dependability of a centralized exchange. Together we're trailblazing the future of Web 3.0 trading and these partnerships lend us tremendous strength and vision that offer thrilling prospects. As we step into this future, we would like to express gratitude to our partners for being such an integral part of the Phemex journey."

Since Phemex officially announced its semi-centralized version, it has received numerous inquiries from multiple investment institutions, including leading institutions such as Paradigm and NGC, among many leading crypto exchanges. The industry holds great hope and is waiting with great anticipation thanks to this exciting innovation, and the combination of decentralized transparency and centralized reliability is highly expected to be the general trend for the industry in the future. As the first exchange to propose and pioneer this vision, Phemex's determination is evident and the Company has gained even more respect in the industry as a major player.

To learn more, please visit the pages below:
Phemex Soul Pass: https://phemex.com/web3/soulpass 
Phemex Token: https://phemex.com/web3/pt 
xPT Pre-mining: https://phemex.com/web3/premining
Announcement on opening of xPT Pre-Mining: https://phemex.com/announcements/phemex-web-30-xpt-pre-mining-is-open-to-all-on-july-6.

About Phemex

Phemex is a certificated crypto exchange providing an efficient and transparent trading experience with a commitment to all-round asset protection backed by state-of-the-art security technologies and Merkle-Tree Proofs-of-Reserves practice. Founded by a team of industry veterans, Phemex delivers personalized solutions 24/7 that facilitate the building of users' crypto portfolios through its low latency and scalable environment, as well as a fair matchmaking system that ensures prices and timing are prioritized.