In this article, we have the pleasure of interviewing Stella Chan, the Chief Operating Officer (COO) of Phemex and co-founder of Pulse. We will explore her vision, recent developments at Phemex, and the future for both Phemex and Pulse. This conversation highlights the unique insights of a leading figure in the world of cryptocurrency.

Founded in 2019, Phemex is a well-known cryptocurrency exchange that serves more than five million customers worldwide and has a daily trading volume of approximately $2 billion across more than 400 trading pairs. Phemex stands out in the cryptocurrency sector with a progressive mindset and an unwavering commitment to innovation, consistently staying at the forefront by rigorously addressing the needs of traders. Last year marked a major milestone when the company rolled out its Web 3.0 ecosystem, Phemexia, transforming it into a hybrid exchange. This strategic move was highlighted by the release of its own token, which is closely linked to this emerging digital landscape.

Phemex recently took a further innovative step with the introduction of Pulse, a SocialFi platform that combines commerce with social media. This platform encourages user engagement by rewarding active participation and enables a seamless transition between trading activities and group chats. Phemex recognizes that trading has become more than a solitary activity and is committed to developing an ecosystem that integrates different facets of users’ online experiences.

Phemex recently launched its Lending Protocol. What are the specific benefits that users will enjoy?

The Phemex Lending Protocol allows users to borrow money at low rates without any additional fees and offers them the opportunity to earn interest by making their funds available. It offers low lending rates without any additional fees or charges, in addition to a competitive and transparent loan-to-value ratio. To get this protocol going, we allocated $22 million in liquidity for the benefit of our users. They can use their assets to secure loans without selling their assets, and benefit from some of the most favorable lending terms in the market with Annual Percentage Yields (APY) on loans currently as low as 3.57%, a sharp contrast to the double-digit rates that are found on other platforms. We also prioritize ensuring that users maintain full control over their funds, with the flexibility to withdraw and reallocate funds at will.

Additionally, users have the option to contribute to our loan pools, earning attractive APY yields that serve as a reliable source of passive income. This end-to-end solution allows users to take advantage of excellent lending rates while offering the chance to provide liquidity with their assets, earning real-time annualized returns (APR).

As a cryptocurrency exchange, how does Phemex stay up to date with Web3 innovation and user demand?

The crypto market is developing at a speed we have never seen before, far beyond its original idea as just a digital replacement for physical currencies. It now runs an extensive digital ecosystem that is becoming a fundamental part of our online lives. Users are now demanding more democratized access to financial tools, without sacrificing robust security measures essential to protect their assets and digital identities.

Phemex has embraced this era of increased connectivity and user autonomy by adopting a hybrid model, combining the best of CEX and DEX into its operations. The rollout of its Web 3.0 ecosystem, Phemexia, over the past year stands as a milestone in this evolution. This tactical transformation aims to give users greater control over their financial engagement and social interactions, which are becoming increasingly intertwined, while maintaining the security and reliability synonymous with Phemex.

We are now introducing our hybrid stack into this ecosystem, combining the autonomy of an on-chain experience with the reliable performance of centralized execution, starting with the launch of the Phemex Lending Protocol. Our Web 3.0 community will enjoy exclusive benefits, for example holders of vePT (the governance token of the Phemex platform) will benefit from a 30% discount on lending rates.

You also recently launched Pulse, which is quickly becoming popular among users. What exciting features can traders expect in Pulse Season 3?

We are carefully refining Pulse, our SocialFi platform, by integrating user feedback to improve core functionality.

Following the recent launch of Season 3, we increased the daily prize pool to 10,000 PT and rolled out new features such as “cast” and “tip” to encourage and reward high-quality content. “Cast” refers to the content posted on Pulse, while “Tip” is an interactive method of rewarding exceptional casts. The tip feature allows you to recognize and encourage the content creators whose insights significantly benefit our community. The more tips your Casts receive, and the more you tip high-quality Casts, the more crypto rewards you will collect. Pulse is evolving into a space where commerce meets current topics, and we are excited to facilitate this convergence.

We are committed to fostering a vibrant community where quality engagement is recognized and rewarded, so I advise all crypto enthusiasts to stay tuned for updates from Pulse.

What future developments can users expect from Phemex?

In addition to our current loan offerings, we are excited about the diverse range of products about to be launched. At the top of our agenda is the AMM protocol, designed to allow users to contribute to the liquidity of our exchange and benefit from passive income. We are also laying the foundation for an on-chain credit scoring mechanism, powered by our SoulBound token, to revolutionize the way users access decentralized finance.


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