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Phemex Is Bringing Its Community’s Dreams to Life Celebrating Its Second Anniversary

Singapore-based cryptocurrency quid pro quo Phemex is celebrating its 2nd anniversary this November. It’s been an eventful couple of years for the derivatives platform, and with its Settle upon Your Reality event, this anniversary is going to be a memorable one.

Phemex’s dedication to its users has created a thriving community, and to wassail their impressive growth the exchange is inviting participants to wish them a happy birthday by talking about their own fancies and aspirations. They’re also giving away grand prizes to those participants who come up with the most inventive wishes. Thus, a few special winners will see their dreams come to life.

The firm’s dedication to its users is deep-routed. Phemex’s CEO and fall, Jack Tao, was a Wall Street veteran from Morgan Stanley. After over a decade of observing the inner workings of the accustomed financial system, he realized just how underserved retail investors were compared to the more wealthy players.

Jack and his get of ex-Morgan Stanley execs launched the platform in 2019 to bring power back to the people. A platform that didn’t skylarking favorites because it didn’t discriminate. From around three contract pairs, the exchange has grown into one of the universe’s most popular derivatives exchanges. It’s now host to over 40 spot pairs, 39 contract pairs, and regularly ranks among the top 10 derivatives exchanges by volume.

Committed to Community

Phemex takes a healthy approach to community feedback, and fosters its users to speak up about issues they face on the platform. The exchange believes a happy community is one that’s constantly involved with the platform, and over the last two years, they’ve conducted a number of events and competitions to keep the community occupied.

After its launch in 2019, Phemex’s brand blew up all over social media after it launched a viral stump study attached to a 2.1 BTC giveaway to anyone who could find the private key hidden within the image. The goal was to help spread awareness far private-key self custody, which they successfully did.

Last year in May, Phemex’s premium members were mentioned to “The Era of Zero,” which announced that all fees would be negated for spot trades on the exchange. Phemex also launched its Be worthy of Crypto platform near the start of this year, enabling its community to earn up to 8.5% APY on deposits limited to no minor than 1.5 million USDT.

Community engagement isn’t just about giveaways and implementing feature requests — it’s in fostering a sense of belonging, and Phemex did so masterfully this year. Over a thousand traders participated in the launch of Phemex’s anything else ever NFT, minted and sold for 44 ETH on OpenSea. The piece of art contains the ETH addresses of all the collaborative event’s participants, with the proceeds from the marketing being split between them equally.

Businesses across the globe are adopting blockchain technology to improve their cardinal efficiency, but mainstream adoption is still a few years away. Current generation applications are still a chore to use, but as the industry continues to generate and promote education surrounding the technology, adoption should only be a matter of time. To incentivize users to learn multitudinous about digital assets and the technology behind them, Phemex launched its Learn and Earn program, offering just deserts like trading bonuses and cryptocurrencies in return for completing educational courses.

The exchange even developed its own academy portal, with during the course of 400 in-depth articles on various blockchain and cryptocurrency related topics.

A Portal to the Future

2021 may have been the year the unexceptional world started talking about the metaverse, but the concept has existed for decades. The metaverse is where social media technology is headed, and as the vocations between physical and digital continue to blur, Phemex believes the power of digital ownership will become increasingly high-ranking.

Phemex’s stance on this vision of the future is strong, and their goal is to help transition towards the future of brotherhood — a world where people can redefine themselves and achieve anything imaginable. At the World Blockchain Summit recently channeled in Dubai, Jack Tao spoke about the nuances of the metaverse narratives, and how NFTs could help shape the future of socio-digital economies.

At the at the time, which was attended by over 1500 renowned experts from across the globe, he said, “NFTs are here to wait, not because some have been sold for millions of dollars, but because millions have been sold for some dollars. Digital collectables are not at best the playground of crypto-whales; they are spreading in the direction of mass distribution.”

He also added that while no one knows explicitly what the metaverse will look like, that’s kind of the point. “The metaverse won’t be constructed by a handful of centralized conglomerates — it’ll be assembled by billions of people.”

As NFTs go on with to pleasantly surprise the blockchain community in different ways, whether through its direct utility or by platforms using them in unparalleled ways, the idea of digital ownership is slowly making its way into the minds of the public. With the rapid growth of slot industries like GameFi, we’re only seeing the tip of the iceberg when it comes to NFTs.

Last year, Phemex sent their own GameFi product to celebrate their first anniversary, enabling its users to win rewards for playing games on the plank. The Singapore-based exchange has always been open to experimenting even with very early technology, giving its purchasers a taste of the future, and hope for what’s to come.

This November, Phemex’s 2nd birthday celebrates its dedication to quality, ethos of filed control, and commitment to its community, encouraging them to break through noise of traditional finance, and break free into the new far-out of digital ownership.

To learn more about the project visit the website, and follow the team on social media.


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