PHOENEX —Exchange. Reborn.

Phoenex Exchange
Nov 24, 2018 · 6 min read
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An ancient mythical creature, the phoenix rises from the ashes of its predecessors. In a similar fashion, PhoenEx will take cryptocurrency to a new height and rise among its competitors with all the best functionalities of established trading platforms and the convenience of a portfolio tracker, combined into one superior platform.

PHOENEX is a semi-decentralized exchange built for real-time, trustless, highspeed trading experience with integrated blockchain settlement features. Users login using their email address or phone number and added layer of security with deposits and withdrawals done through the blockchain without limit, while a centralized layer enables users to trade at high speeds without waiting for transactions to mine, create multiple orders and cancel orders instantly without gas costs.

Challenges Faced by Existing Cryptocurrency Exchanges Today

Suboptimal architecture

Many of the existing cryptocurrency exchanges today are built on the fly without much of careful planning. They often take the simplest approach to get the system up and running, without taking into consideration the compounding load as traffic grows. Furthermore, layers of security that some exchanges integrate in the system add to the complexity resulting to slower trade speeds and delays in relaying information to the user interface. The flaws in the system create a ripple effect which ultimately leads to poor customer experience. For a cryptocurrency exchange to have a long-term success, it must be built with end users in mind, taking into account the right level of security, speed, efficiency, and scalability.

Lacks portfolio tracker

All cryptocurrency exchanges today have one thing in common: they all lack the option where users can see their buy price alongside the current price. Our team believes this is one critical aspect that every exchange must have. This becomes especially handy for long term hodlers. Using this view, they can quickly check how much they gained or lost in just a quick glance without having to move from one tab to another just to compare their buy price and the current price.

Poor customer service quality

A comprehensive understanding of investors and traders’ wants and needs is paramount in running a successful exchange. Their time and money are at stake and slight delays in attending to customer incidents can be very costly for both parties. PHOENEX Exchange is built with end users in mind. In line with this, incidents raised by users will be handled promptly by people who have first-hand knowledge about the system and excellent customer service skills.

Expensive fees

Exchange fees can be very expensive, from trading fees to withdrawal fees, especially to small investors and traders who only wish to get some returns on their investment. Moreover, some established cryptocurrency exchanges can charge ridiculous amount in order for a token to be listed in their system. All of these seems widely accepted in the cryptocurrency space and it seems reasonable too. After all, running an exchange is expensive and ICOs can be immensely profitable. However, we believe that charging high exchange fees and listing fees has the tendency to scare away investors and traders, and high-quality, bootstrapped projects and at the same time arouses temptation to list low-quality projects in the desire for more revenue.

Complex listing process

Listing requirements and process of many well-known exchanges are often tedious and despicably difficult to accomplish. The process can take weeks or months without guarantee of actually getting listed. Unfortunately, project developers and owners have no control over it and they are at the whim of the exchange. PHOENEX transforms this process and only requires vital information from the project team. Service level agreements will be signed off to maintain quality and timely engagement between our exchange and project team.

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The PhoenEx Solution

PHOENEX Exchange platform will use a two-pronged approach when it comes to security. The platform does not require KYC and users only need their email address and private key to be able to start trading. The non-critical components of the trading process will be housed centrally while deposits and withdrawals will be broadcasted to the network. Using this approach, PHOENEX has the agility of a centralized exchange, at the same time the transparency of a decentralized exchange.

The exchange platform will incorporate a portfolio tracker where users can see at a quick glance the buy price, current price, volume, equivalent value in ethereum, and dollar, and last but not the least the percentage gain/loss. This way, day traders and hodlers alike will no longer have to navigate from one tab to another just to compare their buy price to the market price, and most importantly to check whether they are gaining or losing money.

PHOENEX is built with the end users in mind. Customer service has a defined service level agreement and standard across time zones.

Our fees are competitive and relatively low compared to other established exchanges. In addition, using PHOENEX Token to pay for fees entails big discount. Lastly, new token listing process is agile and streamlined. Project teams do not have to wait for weeks or months to know the result of their listing application.

Meet the Team behind PhoenEx

Douie Marc Galiste

CEO and Head of Marketing

Douie Marc is a seasoned entrepreneur, a full-time cryptocurrency trader, and an experienced ICO hunter. He has a decade of experience in leadership and has a knack for finding the best people for the job. His vision has been to build a global cryptocurrency exchange that will be at par or even surpass established exchanges in the market.

Raizalyn Razo

Project Manager and Advisor

Rai is an engineer turned computer programmer and now a full-time cryptocurrency enthusiast. Current and previous work include: COO of Imagodei Foundation; MotivIT Associate Project Manager, FiveBalance’s Country Ambassador and MenaPay Brand Ambassador.

Brookshiel Mae Galiste

COO and Marketing Advisor

Brookshiel is a motivated entrepreneur with a flair for marketing. She is skilled in both administrative and operation functions and a burgeoning cryptocurrency advocate.

Adrian Alvarez

Community Manager and Advisor

Adrian is a full-time cryptocurrency enthusiast who is experienced in trading, ICO and bounty hunting. He has wide network in the cryptocurrency space.

Christine Buan

Content Manager

Christine is a writer and photographer turned content creator with a degree in Journalism. She was one of the founding members of an independent online media outlet, RedWire and served as its managing editor for two years, while writing Op-Ed articles about nationwide issues.

Kate Deniece Oredina

Senior Web Developer

Kate is a seasoned Senior Web Developer with experience in project management and managing a team of skilled IT specialists.

Christian Pangan

Junior Web Developer

Christian is a Frontend Developer specializing in layouts and designs. His credentials include but is not limited to: CCNA1 Passer; IBM DB2 Academic Associate: DB2 Database and Application Fundamentals; IBM Certified Designer — Cognos 10 BI Reports; Android Software Development Kit; and Microsoft Office Specialist

Billy Brylle Pablo Mendoza

Junior Web Developer

Billy is a Fullstack Developer and Web Developer in MotivIT. His previous projects include clients in the manufacturing industry and point of sale and auditing. He has expertise in web development using HTML5, CSS3, JAVASCRIPT, jQuery, PHP and ASP. Billy can work extreme programming using either waterfall or agile method.

Marc Martin

Junior Web Developer

Marc is a MotivIT Web Developer with wide range of knowledge in front end and back end programming. He was a developer at a private company catering to international clients.

Jorelle Martinez

UI Designer

Jorelle majored in Web Application Development and is an experienced Web Designer and UI Designer. His previous projects include developing a hotel booking system, attendance, and monitoring system — all layout and design coded by him.

Alfie Panelo

System Analyst

Alfie is an experienced Support Specialist Tier 3 in Website Security and Server Management.

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