Phemex becomes the first ever semi-centralized exchange that uses cutting-edge Web 3 technologies to achieve transparent, distributed ownership.
By applying soulbound token technology to the Phemex DAO, we aim to revolutionize decentralized governance and forge an authentic Web 3.0. The Phemex Token launch reinforces this mission because the tokenomics incentivize long-term staking in return for voting power and Phemex DAO participation. This initiative, paired with our wholly transparent and self-proving Proof-of-Reserve and Proof-of-Solvency mechanism, gives you the reins to actively verify, participate, and thrive.
Vitalik Buterin’s proposal of a Decentralized Society rests upon an immutable, permission-less trust system that other decentralized applications can reference. Phemex is primed to move towards such a concept because the Phemex Soul Pass SBT facilitates an original framework that can process data from trading activity, community participation, and DAO contributions on our our platform in a verifiable way. This creates the bedrock of our Web3 credential system. From there, various unique applications are made possible including platform ownership via Phemex Tokens, DAO badges based on provable contributions, and uncollateralized lending through decentralized credit scores. Gradually, a fully-fledged ecosystem harboring the principles and functions of a true decentralized society will take shape.
Our vision is to correctly align incentives and attract a community of true believers. Together, we’ll blaze a new trail to further the genuine mission of Web 3.0 that’s centered around credentialed collaboration. Let’s share ideas, share ownership, and share the rewards.