Phemex

Phemex is a well-established cryptocurrency exchange with verified significant market presence, launched in 2019 by former Morgan Stanley executives. Despite a low-effort submission containing hyperbolic claims (e.g., 'everyone' as audience, 'most people have used my product'), external verification confirms a large user base (millions), substantial team size (200-500), and robust platform utility. The project scores highly on utility, reach, and innovation due to its proven track record, but receives penalties in 'Evidence of Traction' and 'Response Quality' due to the lack of verifiable data provided in the input form. The final score reflects a high-value, large-scale enterprise, adjusted downward slightly for submission quality.