. The exchange’s reserves can be verified by every account, showing the assets and liabilities. This proof-of-solvency earned Phemex certifications from CoinMarketCap and CoinGecko, underscoring Phemex’s strategy to win and retain the trust of traders by offering more transparency.
Phemex stands out in the crypto exchange landscape not only for its strong emphasis on security and transparency but also for its innovative approach to community building. Through its Web3 ecosystem,, the platform allows users to become stakeholders by owning a piece of the exchange. This unique feature sets Phemex apart, creating a sense of ownership and engagement among its users, fostering a community-driven environment that goes beyond traditional trading platforms.
By combining a focus on security and transparency with community ownership, Phemex is redefining the way users participate in and contribute to the exchange ecosystem. An integral part of this community is the soulbound token , which acts as a digital passport.. Once users mint their SBT, they gain access to the ecosystem and its privileges, including the Phemex Token.
“Our long-awaited Phemex Web3 world is finally open to all! Any Phemex user can now qualify to mint their Phemex Soul Pass and join in xPT Pre-mining [...]. Likewise, this means significant contributors can rack up voting privileges within PhemexDAO and participate in decentralized decision-making for the upcoming direction of Phemex.”
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