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Crypto Exchange Phemex Turns Two: Here's What Has Been Accomplished So Far

Wed, 12/01/2021 - 18:20
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Vladislav Sopov
Top-notch crypto exchange Phemex raises bets on NFTs, approaches second anniversary
Crypto Exchange Phemex Turns Two: Here's What Has Been Accomplished So Far
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Phemex, a top-tier centralized cryptocurrencies exchange, is celebrating its second anniversary. Its team recalled all of the crucial milestones accomplished and shared some future plans.

40 trading pairs, 1.5 million users, Earn Crypto and Academy Modules

Phemex, a multi-product cryptocurrency ecosystem, witnessed formidable growth in the first two years of its operations. Namely, its assets suite supports 39 contract pairs and 40 spot pairs. The aggregated user count surpassed 1.5 million.

Over the last 24 months, the team of Phemex excited its audience with a number of large-scale community events. Upon launch, it introduced a record-breaking 2.1 Bitcoin (BTC) giveaway for participants in its quest.

Starting from May 2020, all Phemex premium users were eligible for "The Era of Zero" event: all fees on spot trading segments were reduced to zero. Also, in Q2, 2020, the platform introduced its passive income program "Earn Crypto."

Within this program, cryptocurrency enthusiasts are able to earn up to 10% in APY for deposits of up to 1.5 million USDT.

Also, Phemex launched a number of unique educational programs. The largest one, "Learn and Earn," allows users to gain trading bonuses for passing courses on various blockchain and DeFi features.

Phemex also introduced an "Academy" portal that includes in-depth articles covering 400+ topics related to DeFi, blockchain, decentralization and so on.

Phemex explodes onto metaverse segment

As the segments of play-to-earn, GameFi and metaverses are trending in the Web3 sphere, Phemex decided to celebrate its anniversary with a "Choose Your Reality" event.  Participants are asked to share their wishes; the winners will share a large prize pool to fulfill their dreams.

Phemex is not new to the segment of non-fungible tokens: it released its first NFTs in OpenSea for 44 Ethereums (ETH), splitting secondary sales revenue between its community members. The NFT was a piece of art that featured thousands of Ethereum addresses of traders active on the platform.

Morgan Stanley veteran Jack Tao, CEO and founder of Phemex, emphasized the importance of this track for the progress of his business:

NFTs are here to stay, not because some have been sold for millions of dollars, but because millions have been sold for some dollars. Digital collectables are not only the playground of crypto-whales; they are spreading in the direction of mass distribution. No one quite knows what it will look like, but that’s sort of the point. The metaverse won’t be constructed by a handful of centralized conglomerates -- it’ll be assembled by billions of people.

Last but not least, Phemex launched its own GameFi product designed to let all traders earn on their gaming skills.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)