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Announcements > News > A Personal Letter from Stella, COO of Phemex >

A Personal Letter from Stella, COO of Phemex

Author: Silvia Date: 2023-11-29 04:13:06

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Dear Phemex Community,

Over the past year, my team and I have been working diligently to bring our users an innovative and rewarding Phemex Web3 experience. We’ve received enthusiastic feedback on key milestones such as xPT Pre-Mining, 1000BTC Challenge and PT Bidding. Now we’re finally approaching the official launch of the Phemex Token (PT).

I am beyond excited to bring the Phemex Token onto the blockchain on November 30th. PT will usher a new era of unique benefits and governance for our platform. As an active trader who has earned xPT throughout the pre-mining program, you will be able to enjoy exclusive privileges as PT comes online.

By November 29th, your xPT will start to be converted into on-chain PT on a 1:1 basis. Once TGE occurs, 25% of the tokens you’ve earned through xPT Pre-Mining will be unlocked instantly. The remaining 75% will be vested and distributed weekly over the following 3 weeks.

PT staking will be available as well. You can earn high yields daily by staking the Phemex Token. The platform will use 0.01% of all of our daily USDT contract trading volume to buyback PT, so by staking you also participate in revenue-sharing. Furthermore you’ll receive vePT in return, which can be used to govern our platform’s operations, growth, partnerships, and 400,000,000 PT treasury through PhemexDAO voting. Additional game-changing features are also on the way, including a trader’s benefit in which you can earn PT for special campaigns on our platform.

Thank you for accompanying us on every step of the Phemex Web 3 journey so far! We’re grateful to have dedicated users like yourself onboard, and are happy to present you these upcoming new perks via the Phemex Token launch. As developments continue to be made along the Phemex Web 3 roadmap, we’ll make sure your experience becomes even better .  

To the Moon!

Stella Chan

Phemex COO

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