Phemex, a leading cryptocurrency trading platform, is proud to announce the expansion of its contract trading offerings. On November 7, 2023, at 10:00 UTC, Phemex will introduce two new contract trading pairs, CAKE/USDT and TOKEN/USDT, followed by the listing of the MEME/USDT pair on November 3, 2023, at 15:00 UTC.
The new trading pairs, CAKE/USDT and TOKEN/USDT, are linear USDT-margined contracts that support hedge mode, enabling traders to maintain both long and short positions simultaneously.
CAKE/USDT - PancakeSwap, an automated market maker (AMM) and decentralized finance (DeFi) platform. This innovative application empowers users to exchange tokens, offer liquidity through farming, and earn fees in return. For a comprehensive understanding of this project, readers can explore Phemex's in-depth exploration of PancakeSwap.
TOKEN/USDT - TokenFi, a platform striving to streamline the crypto and asset tokenization process, with the goal of becoming a leading tokenization platform worldwide.
Additionally, the recent listing of MEME/USDT offers traders exposure to Memecoin (MEME), the native ecosystem token of Memeland. Memeland is the web3 venture studio developed by 9GAG, a globally recognized meme platform.
Phemex's commitment to expanding its contract trading offerings aligns with its mission to provide diverse and innovative opportunities for its users. The inclusion of these new pairs reflects Phemex's dedication to supporting emerging projects within the cryptocurrency space. You can read more details, such as the new innovative Phemexia project, in our full Phemex review.
Phemex is a leading cryptocurrency trading platform that offers diverse trading options, including spot trading, contract trading, and more. With a commitment to innovation and user-centric services, Phemex continues to expand its offerings to cater to the evolving needs of the global cryptocurrency community.