Phemex’s 2nd Anniversary Is Giving Everyone a Reason to Celebrate

CryptoMode Phemex

Birthdays are a great day to receive gifts, but unlike most birthdays, as part of its second anniversary celebrations this November, Phemex is turning the tables. The Singapore-headquartered global crypto derivatives exchange is reaching out to its users to celebrate the last two years of its existence, and handing out 2 BTC in prizes to those who send in their most unique birthday wishes.

Participate in the ‘Dream With Phemex’ campaign through its Choose Your Reality event and discuss your goals and aspirations — Phemex is even making a few special winners’ dreams come true in February next year!

After ten years on Wall Street, Jack Tao had seen enough. He founded Phemex in 2019 after a decade of observing traditional finance’s treatment of the average investor. Blockchain is still a niche industry, but the technology proposes some of the most groundbreaking solutions to the world’s financial problems. For Jack, starting Phemex was all about leveraging that potential.

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Having launched with just three contract pairs, over the last two years Phemex’s ecosystem has ballooned to accommodate around 39 contract pairs, 40 spot pairs, and nearly 2 million users. The platform regularly reports daily trading volumes exceeding $10 billion, and with its snappy, responsive trading engine, Phemex has grown into one of the most reliable platforms in the digital asset space through its commitment to security and integrity,

Forging A Community

Over the last two years, there have been unexpected challenges for business internationally. Shifting consumer needs and surging costs have ruined even some of the most established businesses, but the blockchain industry has been chugging along, arguably better than before, and Phemex is no different.

After its launch in 2019, the platform soon hosted a puzzle online containing the private keys to access a Bitcoin wallet holding 2.1 BTC. The giveaway was designed to spread awareness about private key self-custody, and quickly went viral on social media, rapidly making Phemex a recognizable brand in the space. 

Phemex is renowned for its compassionate approach to expanding its features and retaining its users. Last year, amid the supply crises in Wuhan, the exchange handled the procuring and transfer of masks to the COVID-19 outbreak’s epicenter from Japan, aided by volunteers from the Wuhan People’s Hospital. Later in May, Phemex presented its premium members with “The Era of Zero,” slashing all spot trading fees on the exchange.

Additionally, for USDT worth up to $1.5 million, Phemex launched its Earn Crypto program, allowing users to earn 8.5% APY on deposits. This year, for the first time Phemex launched its own NFT in collaboration with its community. The artwork, which was auctioned and sold on OpenSea for a mean 44 ETH, contained the deposit addresses of one thousand Phemex traders, between whom the sale proceeds were split equally.

DLT is evolving at a breakneck pace, stretching the bounds of the kinds of problems money and financial services can disentangle. However, technologies which have the ability to inspire deep-rooted changes to society don’t achieve worldwide adoption overnight. It took more than a decade for the Internet to gain a fraction of the momentum blockchain is currently witnessing, yet even today, only a subset of the global population has access to it.

Education is key to bringing these technologies to the masses, and Phemex understands the value of a well-read audience. In its bid to hasten the adoption of blockchain networks, this year Phemex launched its Learn and Earn program, motivating its users to gather a more in-depth understanding of the technology digital assets run on. Further, they even launched an Academy portal consisting of more than 400 informative articles analyzing a wide range of crypto-related subjects.

Blockchain may still be in its infancy, but it’s already making waves in financial circles. Back in 2019, cryptocurrencies and blockchain technology had already made their potential quite well known, and popular digital asset exchanges had already started making a name for themselves. However, when Jack started Phemex, he noticed the same biases that existed on Wall Street creeping into the most active platforms.

Phemex wasn’t made to be another exchange in the crowd — it was created to be the world’s most reliable digital asset exchange. With its excellent track record, the platform has certainly lived up to its ideals over the last two years, nurturing a rich growth environment for both Phemex and its community to leverage.

The Metaverse Culture

The concept may have been recently popularized by Facebook, but the idea of a metaverse has been in existence for decades. As a vision of the future of social media technology, the metaverse is pushing the narrative of digital ownership to new heights, and Phemex believes this future could be closer than we think.

Jack Tao, Phemex’s CEO, spoke to an audience of more than 1500 experts from the blockchain industry at the recent World Blockchain Summit in Dubai. During his speech, he mentioned how Web3 products like Non-Fungible Tokens (NFTs) were pushing the boundaries of what’s possible for the future, and are taking us one step closer to the metaverse.

“NFTs are here to stay, not because some have been sold for millions of dollars, but because millions have been sold for some dollars. Digital collectables are not only the playground of crypto-whales; they are spreading in the direction of mass distribution,” he said. “No one quite knows what it will look like, but that’s sort of the point. The metaverse won’t be constructed by a handful of centralized conglomerates — it’ll be assembled by billions of people.”

The metaverse will blur the lines between physically and digitally-made interactions, piecing together a world where people can be who they want and accomplish their dreams. As NFTs start seeing adoption from more mainstream crowds, the notion that people can own a digital asset is slowly becoming more accepted. 

Within already niche industries like DeFi, sub-sectors like GameFi are causing a widespread reassessment of blockchain’s limitations, with successful P2E platforms hoarding the spotlight in just the last two years. Phemex has always supported the adoption of experimental tech, even launching a GameFi product last year on its first anniversary.

With the metaverse narrative gradually building speed, Phemex aims to bridge society’s transition to the world of digital ownership. Celebrating its second anniversary, Phemex is honoring the industry’s foundation of distributed control, breaking through the ineffective systems of today’s financial services, and breaking free into the future of an open financial infrastructure.

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