Total supply of 1 billion Phemex Tokens will be issued as ERC20 tokens on the Ethereum blockchain. They represent ownership stake in the Phemex platform and grant various utility benefits.

The Phemex Token may take three forms, each with distinguishing characteristics. A brief description and breakdown can be found below, with further expansion in subsequent sections.

xPT - Metadata on the Phemex Soul Pass; automatic 1:1 conversion to PT during TGE

PT - On-chain, transferable ERC20 platform token

vePT - On-chain, non-transferable governance token on the Optimism (OP) network

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