In a recent tweet, the most efficient Crypto exchange and Crypto Futures trading platform, Phemex officially announce that it launched full pre-mining for its Phemex Token (xPT) on Thursday, July 6, 2023.
Anyone holding a Phemex Soul Pass (PSP) who has traded more than $100,000 in trading volume in the last 30 days (including contracts and all spot pairings) is eligible to participate in xPT pre-mining.
The Phemex Soul Pass (PSP) is a Soulbound Token (SBT) that serves as your on-chain passport to a new era of decentralized Web 3.0. As the first-ever soulbound token used by a significant cryptocurrency exchange for decentralizing ownership. PSP enables holders to own a piece of Phemex and actively engage in platform governance. Mint your unique PSP on the Ethereum blockchain.
Once their PSP is minted, users will automatically be eligible for the pre-mining event, with no additional steps required.
Also, on the official website of Phemex, they mention two steps for the mint PSP. First is the user’s connect wallet and second is the mint Phemex soul pass.
During the whitelist stage, Phemex enlisted a total of 961 whitelisted Soul Pass users, and right now 1227 holders, most of whom are Phemex core partners and professional traders.
Phemex has allowed each user a limit of five buddy invites, so things are moving quickly and there is a lot of demand because this early stage is just for people on the whitelist invitation system, making it a precious resource. With the official release of xPT pre-mining on Thursday, a big flood of new users is expected.
There are mainly three benefits to minting Phemex Soul Pass, the first is Earn xPT, the second Become Phemex DAO Contributor and the third is Phemex Web 3.0 Special Campaigns.
As a world-leading crypto exchange, Phemex already possesses the advantages of flexible on- and off-ramps, a user-friendly interface, and deep liquidity, as evidenced by the wholly transparent and self-proving Proof-of-Reserve and Proof-of-Solvency mechanisms Phemex launched in November 2022.
