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The future of crypto trading is hybrid — Interview with Phemex

The future of crypto trading is hybrid — Interview with Phemex


Traditional finance (TradFi) places a strong emphasis on security, whereas decentralized finance (DeFi) focuses on innovation and accessibility. Hybrid exchanges, which combine centralized and decentralized features, have the potential to unlock innovation and enhance asset security. They allow users to trade directly on the blockchain without intermediaries, providing more investors with access to DeFi features while maintaining the security and liquidity of centralized exchanges. Phemex, one of the top 5 cryptocurrency exchanges, has embraced decentralization and pioneered a hybrid operational model. Their Web3 ecosystem combines decentralized decision-making with centralized efficiency, and their upcoming native token will enable holders to participate in the governance of the Phemex DAO.

Stella Chen, who recently transitioned from the role of chief marketing officer (CMO) to chief operating officer (COO) at Phemex, discusses her new role, the future of crypto trading, and Phemex’s Web3 initiatives in this interview. As COO, she will oversee the development and execution of strategic plans, manage day-to-day business operations, and mentor other executives and managers in the company.

Phemex stands out from other crypto exchanges due to its substantial liquidity, secure hub for various crypto transactions, and its commitment to innovation. They aim to provide users with the best trading environment and a unique blend of centralized and decentralized features.

Phemex has a strong focus on Web3 projects, and the integration of Web3 technologies is expected to shape the future of crypto trading. Web3 empowers users by giving them ownership and control over their trading activities. The integration of decentralized Web3 elements to meet users’ evolving expectations will be key in shaping the future of crypto trading.

Phemex’s Web3 initiative has achieved key milestones, including the launch of the Phemex Soul Pass (PSP), a non-transferable ERC-20 token that authenticates the holder’s identity. They have also built a community of over 18,000 members in their Phemexia ecosystem and are soon launching the Phemex Token (PT), which will serve as a utility token within their ecosystem.

The Phemex Token will cover trading, gas, deposit, and withdrawal fees on Phemex, and holders will also be able to stake PT to receive governance tokens. Phemex’s goal is to provide long-term value to its tokenholders and involve the community in the future development of the platform.

Phemexia, Phemex’s Web3 ecosystem, combines decentralized decision-making with centralized efficiency. It offers features such as decentralized credit scoring, AMM liquidity provider integration, and lending protocols. The aim is to provide users with more control while maintaining the convenience and liquidity of a centralized exchange.

Phemex prioritizes security and liquidity and plans to maintain these strengths while incorporating decentralized features like PhemexDAO governance. They have robust security protocols, including a cold wallet system and monthly proof of reserves for independent verification. They are also developing a secure DeFi stack to ensure a safe environment for users to engage with innovative products.

Looking ahead, Phemex’s long-term vision is centered around the development of Phemexia. By seamlessly integrating centralized and decentralized solutions, they aim to create a platform that combines the best of both CeFi and DeFi. They will continue to enhance the platform, introduce innovative features, and actively engage their community in the process.