DeFi enthusiasts are always on the lookout for new ways to make money in the decentralized financial market. For newcomers, however, it can be overwhelming to see all the trading, staking and farming platforms that are available.
Traders often have to use multiple platforms for DeFi activities like charting, trading and staking. Sphynx hopes to change this by offering a single platform that allows investors and traders to trade in DeFi.
What is Sphynx?
Sphynx, an all-in, decentralized exchange, is built on the Binance Smart Chain. It allows for trading, holding, staking and farming tokens.
Sphynx is a single platform that provides everything an investor or trader might need to navigate the DeFi market. It includes a consolidated wallet that allows users to view their digital assets, dynamic charts and farms, as well as staking portals.
It was designed to make it easy for users to trade or conduct related activities quickly. This is done through automated configurations in the user experience.
Every action taken on the platform is automatically configured by the platform. The platform automatically configures the swap for users who search for a specific token. If traders want to sell any digital assets, they can simply click on that asset and the swap will automatically be configured to sell.
Sphynx offers a variety of utilities to make investing and trading easier. These utilities include:
Sphynx Papyrus charts let users chart, research, and place orders for any token on BSC. Charts allow traders to check important information such as market cap, liquidity and order books without having to leave the platform.
Consolidated Sphynx Wallet
It provides users with a single Sphynx wallet that allows them to store and trade assets from anywhere within Sphynx. They can also reduce transaction costs by transferring tokens between different platforms.
Nile Staking Pools
Sphynx Nile pools allow DeFi projects based on BSC to increase adoption by distributing some of their tokens among SPHYNX token owners. Existing projects can also establish a relationship with the loyal Sphynx supporters through Nile Pools.
Sphynx Pyramid farming allows users to create liquidity for their preferred pair and then provide liquidity to the Pyramid. Sphynx provides a tempting APR incentive to users who provide liquidity for their favourite DeFi projects.
Sphynx Launchpad is designed to allow promising DeFi projects to launch without having to build a community or get an audience.
SphynxSwap offers an Ethereum-to-Binance Smart Chain bridge through their launchpad, DEX and other features. This allows users to switch seamlessly between the two networks.
SphynxSwap allows you to swap any combination of tokens on the platform.
Users can quickly swap tokens and do not have to worry about transaction fees. Sphynx allows investors to passively earn by staking tokens on the platform. You can also use the yield farming feature to stake liquidity provider tokens (LP) and earn SPHYNX.
The SPHYNX Token
SPHYNX, the native cryptocurrency of the platform, is its currency. It is a BEP-20 token that has a total supply 1 billion SPHYNX.
MasterChef for farmers and the staking platform can access the token’s minting function. MasterChef is a smart contract which controls what a farm can and cannot do. It is the master code responsible for all operations.
Sphynx plans to keep developing its platform and expanding the product range as the crypto market grows.
Sphynx is currently working to integrate the following:
Sphynx is embracing the NFT space, which is currently making waves. The Sovereign Sphynx Council is made up of 8,888 NFT collectibles. These collectibles will be rewarded with a small percentage from the fees charged by the platform. The Sphynx NFT Marketplace, which is currently in development, will be live shortly.
Sphynx will expand to other smart chain than BSC in order to promote the interoperability and use of crypto assets. This includes the launch of an ETH Bridge.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.