New Spot Listing - PIT

Author: Alan W. Date: October 21, 2022

Dear Users,

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:

1. Phemex will take snapshots of users’ PIT asset holdings every day at 0:00 UTC
2. Every month, PIT holders will receive a PIT airdrop based on each individual users’ average PIT holdings across the snapshot period
3. 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.

Happy trading!

Phemex Team