The xPT pre-mining event grants you early access to the upcoming on-chain Phemex token. From the 1 billion total Phemex Token supply, 10% or 100 million tokens will be allocated for pre-mining as xPT. Acquire xPT now and it will be converted to on-chain PT on a 1:1 basis in 2023 Q3. Here’s how xPT pre-mining works.
First, make sure you’ve minted your Phemex Soul Pass. Only PSP holders are eligible to participate in the pre-mining program to accumulate xPT.
Then go to the event page at www.phemex.com/web3/premining. The pre-mining event is broken down into 5 stages, each with 20 million xPT available for mining.
When a pre-mining stage is active, simply trade USDT-margined, BTC-margined, and ETH-margined contracts on Phemex and you’ll receive xPT airdrops. Note that USD-margined contracts and the GOLD/USDT contract do not count toward xPT rewards.
The dashboard will update your trading volume and corresponding xPT rewards for the current stage.
Note that the difficulty of mining xPT will increase with each subsequent stage, so the earlier you join the pre-mining event, the more lucrative rates you’ll be able to enjoy.
During each stage of the pre-mining event, there will be a Boost Factor leaderboard ranking the top participants by effective trading volume.
If you’re one of the top ranked users at the end of the stage, you’ll receive a Golden Soul Shovel soulbound token which will grant you a 1.2x boost multiplier for xPT pre-mining rewards during the next available stage.
Lastly, check out the detailed rules within our project whitepaper for more specifics such as the xPT reward calculation formula, and how xPT will get converted and unlocked as on-chain, tradeable Phemex Tokens later in Q3.
And that’s it! Hurry and mint your Phemex Soul Pass and start mining for xPT. Earlier stages offer better reward rates, so happy trading!
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