Phemex has experienced significant growth in the past year. In addition to the over 200 spot trading pairs available, it recently listed 22 new trading pairs with popular tokens such as FIDA, GARI, and SHILL.
Now, Phemex is listing another 40 new tokens for contract trading, including NEAR (Near Protocol), GMT (STEPN), APE (Apecoin), SAND (Sandbox), and ASX (Axie Infinity) as briefly described below:
- NEAR (NEAR Protocol)
NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on development and user-friendliness. The native NEAR currencies of the Near crypto network are used to pay for transaction fees and storage. NEAR is a Proof-of-Stake blockchain that uses sharding technology to achieve scalability.
NEAR Protocol jumped into the top 20 crypto rankings in April. On CoinMarketCap, it is currently ranked 20th, with a total market capitalization of over $10 billion, up from $5 billion in March. By providing unique developer and consumer capabilities, NEAR Protocol aims to distinguish out in the crowded industry of Web 3.0 infrastructure providers.
- GMT (STEPN)
GMT governance token is the primary token of STEPN, being utilized for transactions like making purchases. STEPN is a Web3 move-to-earn app that integrates a variety of NFTs, with in-built Game-Fi and Social-Fi elements on the Solana blockchain. 30% of total GMT will be distributed to STEPN users through move & earn and governance participation.
- APE (ApeCoin)
The APE token was created as a decentralized protocol layer for various community-led projects that drive culture into the metaverse. APE is the governance and utility token of the APE ecosystem, and is based on the ERC-20 standard. The APE ecosystem empowers decentralized community building at the forefront of Web 3.0, with the ApeCoin serving the purposes of governance, unification of spend, access, and incentivization.
- SAND (Sandbox)
SAND is an ERC-20 utility token built on the Ethereum blockchain, used in The Sandbox ecosystem (a virtual Metaverse) for value transfers as well as staking and governance.
- AXS (Axie Infinity)
Axie Infinity Shards is an ERC-20 governance token built primarily for Axie Infinity, a play-and-earn game. Players need to have AXS to play the game itself, but the AXS token can also be traded like Bitcoin, Dogecoin, or any other cryptocurrencies.
To celebrate its new listings, Phemex is also launching the Metaverse Brawl campaign, in which users can join and win trading bonuses.
The 40 tokens listed by Phemex
The 40 tokens Phemex will launch for contract trading are the following:
Phemex is a crypto derivatives exchange founded in Singapore by eight former Morgan Stanley executives in 2019. With powerful trading features for seamless trading and a proprietary hierarchical deterministic cold wallet system, Phemex is building the world’s most trustworthy cryptocurrency derivatives trading platform. In less than two years, it rose to among the top 10 global exchanges with a daily peak trading volume of more than $12 billion, offering some of the lowest fees (-2.5 bp) for crypto derivative price makers.