Cryptocurrency platform Phemex unveils On-chain Earn for streamlined staking and enhanced capital efficiency
Phemex, a leading cryptocurrency exchange trusted by over 6 million traders worldwide, has taken a significant step forward in expanding its wealth management suite. The exchange has launched On-chain Earn, a new staking service that integrates proof-of-stake rewards into the platform.
The service prioritizes user experience and transparency, ensuring that rewards are distributed transparently. With On-chain Earn, users can put their assets to work more efficiently, maximizing their returns. Assets remain within a unified account, and clients can earn directly within Phemex while retaining visibility and control.
On-chain Earn offers competitive staking yields from supported protocols, such as Ethereum (ETH) and Solana (SOL). It provides flexible unstaking aligned with blockchain terms, preserving liquidity according to each network's rules. One of the standout features of On-chain Earn is its one-click staking mechanism, requiring no additional setup.
Federico Variola, CEO of Phemex, has emphasized the importance of user experience and transparency in the new service. He stated, "We are committed to providing our users with the best possible experience, and On-chain Earn is a testament to that commitment. We believe in transparency and are proud to offer a service that is not only user-friendly but also transparent in its rewards distribution."
In addition to the initial supported cryptocurrencies, Phemex plans to expand the service to additional networks and assets in the future, marking stage two of the rollout. The exchange has shown a knack for promoting new cryptocurrencies, such as Q (Quack AI) and SOMI (Somnia), for trading events. However, no direct confirmation about their use in On-chain Earn staking has been found.
As part of the On-chain Earn launch, Phemex is introducing an exclusive ETH Pool. Participants in this pool can accumulate Mellow Points and Symbiotic Points, potentially qualifying for future project airdrops. This added incentive further enhances the appeal of On-chain Earn for Phemex users.
Phemex, established in 2019, is known for its reliability and innovative edge. Offering spot and derivatives trading, copy trading, and wealth management products, the exchange continues to push the boundaries of what a cryptocurrency platform can offer. With the introduction of On-chain Earn, Phemex is once again demonstrating its commitment to providing users with the best possible tools for managing their crypto wealth.
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