This exchange combines CEX and DEX benefits to revolutionize the crypto trading experience

cointelegraph.com:

The collapse of FTX and other crypto cataclysms of 2022 exposed the vulnerabilities of centralized crypto exchanges (CEXs), leading to an erosion of trust. Many users saw decentralized exchanges (DEXs) as one of the most reliable alternatives, although they lack efficiency and cannot boast the same level of liquidity as CEXs.

Regardless of the underlying infrastructure of exchanges, the main focus should be on trust and transparency. This is crucial, as it determines how a platform gets perceived and succeeds in the overall market. By prioritizing user asset protection, transparency, open communication and a user-friendly experience, a crypto exchange can build trust and establish itself as a reputable and reliable platform in the rapidly growing crypto market.

Some exchanges manage to combine the benefits of CEXs and DEXs to deliver better experiences and increase user loyalty. One such example is Phemex, a semi-centralized crypto exchange and Web3 ecosystem that focuses on transparency.

The exchange platform is part of a wider Web3 world that takes the customer experience to a whole new level. One of the decentralized elements of this Web3 ecosystem is Phemex DAO, which brings decentralized governance to transfer decision-making power to a growing community of developers, partners and stakeholders.

Phemex believes that the evolution of Web3 goes beyond finance to embrace other fundamental elements of society, such as digital identity, trust-building and permissionless collaboration. The ecosystem has found inspiration in Vitalik Buterin’s concept of non-transferable “soulbound tokens” and applies it to the Phemex DAO to achieve a new milestone in decentralized governance.

Source: Phemex DAO

Phemex allows users to mint