Phemex plans to issue its own platform utility token PT (Phemex Token) in Q3 2023. As an on-chain ERC20 token, the Phemex Token will offer a diverse array of benefits and use cases. Since PT represents ownership of Phemex, it can be staked in return for vePT (vote escrow Phemex Token) in order to actively participate in decentralized platform governance. vePT holders enjoy extended privileges including but not limited to staking yields and boosted trading rewards. For Phemex Soul Pass holders, the Phemex Token can be pre-mined as xPT prior to the TGE. This means that the PSP is your keycard to early access accumulation of xPT at advantageous rates.