Industry Veteran Federico Variola Discusses the Future of Cryptocurrency Utilities, Centralized Exchanges, and SocialFi
A lot has happened in the crypto space since Phemex CEO Federico Variola last visited the space, and he continues to focus his project on moving forward.
“To continue to deliver what our users expect, we are constantly innovating with unique features exclusive to Phemex,” says the executive, who goes by the nickname Fed. “We strive to host the latest stories and meme tokens while staying on top of emerging trends as an exchange. We are constantly adding unique new products as well as upcoming launch pools to help users stay on top of the latest innovations in the space.”
These latest innovations are in line with the evolution of meme coins, the future of social finance, and the limitations of exchange decentralization.
From here to usefulness
Recently, meme coins have been adding more utility to stay relevant and extend their lifespan. Some now offer features like staking rewards, play-to-earn gaming platforms, or governance options. Shiba Inu, for example, allows holders to vote on important project decisions through decentralized governance. Of course, this is still ironic to some, because the holder gets a voice in the governance of a coin that still has no utility.
“Sometimes meme coins can perform better when they add utility as they begin to evolve into actual tokens. However, the core value of a meme coin often comes from the meme itself,” says Fed. “The team should focus on virality, maintaining conversations, creating content around memes, and keeping the community active. Adding utility introduces product promises that need to be fulfilled, which also carries risk. Not all meme coins will include utility.”#Dogecoin #SHIB. #phemex #Ethereum #meme_coin $BTC
