New Spot Listing - PIT
Author: Alan W. Date: October 21, 2022
Phemex will be listing PIT(1M)/USDT on our spot market at 12:00 UTC on October 21, 2022.
- PIT – Pitbull is a community-driven, dog-themed meme coin that rewards its investors through an auto-staking mechanism, which guarantees passive yield by rewarding token holders with fees from transactions that are conducted in PIT.
Find more details on the PIT here: https://www.pitbull.community/
Phemex Note on Pitbull’s Tokenomics:
According to the PIT’s tokenomics, for every transaction that interacts (deposit & withdraw) with Phemex’s wallet on PITBULL, 4% of each PIT on-chain transaction will be redistributed to PIT holders:
- 2% goes to PIT holders on exchange
- 2% goes to PIT donation wallet
Meanwhile, in order to cover platform integration costs, Phemex will charge an additional 4% when users withdraw their PIT holdings from our platform.
Specific Redistribution plan for PIT holders on Phemex:
- Phemex will take snapshots of users’ PIT asset holdings every day at 0:00 UTC
- Every month, PIT holders will receive a PIT airdrop based on each individual users’ average PIT holdings across the snapshot period
- The specific amount of PIT dividends will be based on the actual amount of PIT tokens received by the platform, Phemex does not charge any fees.