Phemex has established a Catalyst Selection Committee that reviews thousands of catalyst proposals each funding cycle, narrowing them down to the top 50 based on specific criteria. To further decentralize this process and enhance community involvement, we introduced a new proposal starting with Fund 12. This proposal allows any individual within the ecosystem, regardless of their activity, to be listed on the final voting list, provided their proposals meet the required standards or receive community support.
In the rapidly evolving landscape of cryptocurrency trading, exchanges play a crucial role in facilitating transactions and providing access to digital assets. Among the various platforms available, Phemex has emerged as a prominent player, offering a user-friendly interface, advanced trading features, and a commitment to security. This article explores the key features, benefits, and unique aspects of Phemex, positioning it as a noteworthy option for both novice and experienced traders.
Whether you are a seasoned trader looking for advanced tools or a beginner seeking an accessible entry point into the cryptocurrency market, Phemex provides a reliable and efficient trading environment. As the cryptocurrency landscape continues to evolve, Phemex's commitment to innovation and user satisfaction positions it as a key player in the future of digital asset trading.
At Phemex, we utilize multi-signature wallets to secure critical actions performed on our smart contracts, such as upgrades and parameter updates. For instances where a hot wallet is necessary, like with our liquidator operators who ensure system solvency, we employ AWS Key Management Service (KMS). AWS KMS ensures that private keys cannot be extracted, adhering to AWS's strict security policies.
Every transaction on our perpetuals platform requires signatures from both the taker and the maker. These signatures are rigorously validated twice—first off-chain and then on-chain. Additionally, each transaction undergoes multiple layers of validation and compliance checks to ensure integrity and adherence to our security standards.
Our settlement operators play a crucial role in interfacing
with smart contracts and placing orders. However, even in the
event of a compromise, the requirement for dual signatures
(from both the maker and the taker) ensures that malicious
actors cannot execute unauthorized trades. This dual-signature
mechanism provides an additional layer of security against
potential breaches.
$139
Phemex also offers its own wallet service, providing users with a secure way to store their cryptocurrencies. The wallet features advanced security measures and supports a wide range of digital assets, allowing users to manage their holdings conveniently.
$229
The exchange offers responsive customer support through multiple channels, including live chat and email. This ensures that users can receive assistance when needed, enhancing the overall trading experience.
$189
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Phemex will kick off the insurance fund mining program soon! You will be able to read about it in-depth in a follow-up article! Phemex is accelerating the onboarding of professional, institutional, and novice traders to decentralized markets.
Phemex is a blockchain protocol for perpetual swaps that combines self-custody and transparency with best-in-class speed and security. Phemex is a decentralized, high-performance order-book-based exchange that offers advanced strategies, intuitive UI, liquid markets, and efficient APIs.
Phemex will launch an insurance fund and offer perpetual swap trading in Q2 2021, both with early participation rewards. Traders will benefit from a seamless trading experience, familiar to that of centralized exchanges, no gas fees and low trading fees. The protocol for trading options will go live later in the year.
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Martin Smith
Client
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Jessica Brown
Client