In the world of cryptocurrencies, two years is quite a long time. For Phemex, a lot has happened since it was founded in late 2019. The exchange has always remained dedicated to its users, hosting many events over the period. Soon after launch, Phemex jumped into the scene head-on with a 2.1 BTC giveaway, awarding anyone who solves their cryptographic puzzle.
The event was a massive success, spreading awareness of private key self-custody and bringing their brand into the limelight. Later in May 2020, Phemex introduced “The Era of Zero” to its premium users, launching its Earn Crypto platform soon after.
Today, decentralized finance (DeFi) is a core pillar of the blockchain industry, offering banking and various financial services to even the most remote regions in the world. DeFi is the first step towards the future of banking on the blockchain, and it’s also where most of crypto’s utility is concentrated today.
Phemex is constantly building towards fostering a thriving community of traders, investors, and crypto enthusiasts. And as part of keeping that promise, the exchange is now listing an additional 26 new spot trading pairs based on popular demand. From MakerDAO and 0x to 1inch and Curve Finance, Phemex is dedicated to bringing the most relevant and innovative projects to its traders.
26 New Trading Pairs
The exchange has announced that it would be adding support for a wide range of new digital assets on its platform, enabling users to have greater exposure to a more diverse range of digital assets. A complete list of the added trading pairs can be found on Phemex Spot Trading page. Some notable tokens among the newly listed ones now available on Phemex are:
0x is an open-source protocol built on the Ethereum blockchain, enabling the peer-to-peer exchange of Ethereum-based tokens. ZRX is 0x’s native governance and staking token. The main goal of this platform is to bring scalability, accessibility, and interoperability to decentralized applications.
DAI is one of two native tokens within the MakerDAO ecosystem. Pegged to $1 of ETH, DAI is a stablecoin that derives its value from cryptocurrency, unlike other fiat-collateralized stablecoins like Tether and USDC. Crypto enthusiasts turn to the Maker protocol to generate DAI loans with ETH as collateral. This allows them to purchase more ETH, increasing their exposure to the market.
DAI can be used to repay these ‘collateralized debt positions,’ cross-border transactions, and payment for goods and services as a stable medium of exchange. The DAI stablecoin is also a vital component of the DeFi movement as a store of value, transactional asset, and passive income generator.
1INCH is the native governance token of the 1inch Network, an aggregator of decentralized protocols that enables cross-liquidity flows between different blockchain networks, including Ethereum, BNB Smart Chain, Avalanche, and Polygon. The token itself is used to vote on protocol parameters and other governance decisions that the decentralized autonomous organization (DAO) handles.
CRV is the native token for the Curve Finance platform, which serves as a DeFi hub for trading stablecoins. The CRV token is used to incentivize rewards on the platform while also encouraging participation in governance decisions. As a decentralized autonomous organization (DAO), users can lock their CRV into the platform for a predetermined period to receive rewards.
Pax Gold (PAXG) is a popular choice for investors who want flexibility, trust, and accessibility for their gold ownership experience. Backed by actual Gold, PAXG aims at lowering the barrier to entry for gold investment, bringing the precious metal’s favorable and valuable physical characteristics into the realm of digital assets.
Wrapped Bitcoin (WBTC) is an ERC-20 token representing Bitcoin (BTC) on the Ethereum blockchain. One key advantage of WBTC is its integration into Ethereum wallets, dApps, and smart wallets. Ethereum is fundamental to most of the DeFi ecosystem, and by bringing Bitcoin onto the network, WBTC enables Bitcoin holders to participate in the decentralized finance movement.
CAKE is the native token of the PancakeSwap platform that allows investors to swap BEP-20 tokens on the BNB Smart Chain. CAKE has performed well in the past year, and the primary function of the CAKE token is to incentivize liquidity providers through staking rewards.
The Phemex Community
Throughout its journey, Phemex has constantly supported its users, building an enormous community of dedicated traders and investors through giveaways, events, and implementing in-demand features. The exchange believes in fostering a perpetually engaged community and is always willing to go that extra mile to keep its users happy.
The new listing announcement has only increased the excitement and anticipation for what’s to come from Phemex, which now hosts over 80 spot trading pairs. The exchange is committed to providing its users with the best possible experience and will likely continue to add even more features, products, and services in the years to come.
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