Phemex Reveals Pioneering Insight on Upgrading from Centralized to Hybrid Semi-Centralized Crypto Exchange Platform Model

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Trading in the top 20 by volume globally, Phemex is considering the transition to a more transparent hybrid centralized/decentralized (semi-centralized) crypto exchange model to improve asset-safety.

MILAN, April 17, 2023 /PRNewswire/ -- Stella Chan CMO of Phemex, a leading crypto platform, shares her vision involving plans to transition from a centralized to a hybrid semi-centralized crypto exchange platform model. With over US$5 billion in daily average trading volume and a user base of more than 5 million people worldwide, Phemex has quickly risen to the top ranks of crypto derivatives exchanges in the past 4 years.

Stella believes a new hybrid exchange model that combining the best aspects of centralized and decentralized exchanges will enhance the transparency, accountability, security, and community involvement of the exchange. By formalizing a decentralized autonomous organization (DAO) to facilitate decentralized governance and stronger community engagement, Phemex will to remain a major player in the constantly evolving world of cryptocurrency.

"Given the ever-changing market environment in 2022 and recent, we believe that the combination of decentralization and centralization is the future of crypto exchange development," said Stella Chan, CMO of Phemex.

"Semi-centralized is a new development concept put forward by Phemex in response to the market, which combines decentralized decision-making with centralized execution and efficiency. We provided one of the most comprehensive and transparent Proof of Reserve reports ever in November last year, enabling users to verify their personal assets in Phemex at any time. In the future, users can obtain more rights and interests to participate in corporate governance and share company revenue. We are strong advocates for the sharing of ideas, ownership, and rewards," Stella added.

Phemex's focus on safe transactions is driven by the realization that centralized platforms alone are not sufficient to address the growing lack of trust in the industry. Phemex's vision is to democratize access to fair finance, transcending differences in backgrounds, borders, and beliefs with a mission to offer superior investment opportunities that enable everyone to realize their full potential.

Through the new hybrid exchange model, Phemex aims to empower users and partners to take an active role in decision-making and profit-sharing. By embracing transparency and community involvement, Phemex is committed to realizing its vision of a more inclusive and equitable financial future.

About Phemex

Phemex, a certificated crypto exchange providing efficient and transparent trading experience with commitment of an all-rounded asset protection backed by state-of-the-art security technologies and Merkle-Tree Proofs-of-Reserves practice. Founded by a team of industry veterans, Phemex delivers personalized solutions 24/7 that facilitates the building of users' crypto empire through its low latency and scalable environment, as well as a fair matchmaking system ensuring the prices and timing are prioritized.

SOURCE Phemex