# Phemex Soul Pass

The Phemex Soul Pass (PSP) is a Soulbound Token (SBT) that can be minted on the Ethereum network. It is the first-ever soulbound token to be used by a major cryptocurrency exchange for the purpose of decentralizing ownership and assembling a grassroots community of collaborators. 

Phemex Soul Passes can be held on any ETH-compatible wallet such as Metamask, Portis, or a new wallet created on Phemex. As a SBT, the Phemex Soul Pass is non-transferable and does not have tradeable value. However, it grants access to pre-mining Phemex Tokens and contains important credentials related to your Phemex account including your [xPT](https://phemex.gitbook.io/phemex-web3-whitepaper/features/phemex-token/xpt) balance. Qualified Phemex accounts can mint one Phemex Soul Pass each.