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SphynxSwap One Platform to Rule Them All

SphynxSwap-One-platform-to-rule-them-all Blockchain News
  • SphynxSwap is one of the most powerful platforms in the current DeFi ecosystem.
  • SphynxSwap integrates all necessary services within a single platform.

Within The Lord of The Rings, in Mount Doom, in the fire of Orodruin, the Dark Lord Sauron crafts the “One Ring”, one ring to rule them all. It was one of the most powerful artifacts ever created in Middle-earth. Although not with the same sadistic and evil intent as Souron, the creators of SphynxSwap created the platform. Just like the “One Ring” was one of the most powerful objects in Middle Earth, SphynxSwap is one of the most powerful platforms in the current DeFi ecosystem.

SphynxSwap’s vast ecosystem was created to solve one of the most pressing problems plaguing the current DeFi ecosystem – the fact that most DeFi projects exist in silos. The users have to be connected to multiple projects in order to experience all the benefits of DeFi in its entirety. Built on Binance Smart Chain, SphynxSwap is a Decentralized exchange with an all-in-one solution for crypto needs such as farming, holding, trading, and staking assets.

There are some CeFi platforms that offer some of these features in one place but they come with their share of vulnerabilities and risks. More importantly, CeFi loses the basic essence of Decentralization at the heart of most cryptocurrencies.

What does the Sphynx ecosystem look like?

SphynxSwap platform integrates all necessary services within a single platform, including a consolidated wallet, dynamic charts, farms, and staking portals so users never have to leave the SphynxSwap platform.

  • SphynxSwap: Trade under 10 seconds – Fast trading capabilities are achieved by automated configurations of what a user presses on the Sphynx platform. To exemplify, if a user searches for a token, the swap is configured in a way for them to buy the token in a click. The investors do not have to go through any registration of applications.
  • Sphynx Reward: Traditionally, rewards have always been a measure of how prosperous a company is doing. Sphynx aims to redistribute 50% of all swap fees back to sphynx token holders.
  • Low Fees: Sphynx offers one of the lowest fees in the industry. One of the biggest advantages of being a BER-20 token over an ERC-20 is low network fees, making it suitable for smaller transactions.
  • Staking: Broadly, staking in DeFi is often used as a collective term for activities that require temporary locking of crypto assets and earning rewards for doing so. Users can earn Sphynx tokens through the staking mechanism on the platform.
  • Farming: Farming, also referred to as liquidity mining, is a way to generate rewards by locking up crypto with Liquidity providers who add funds to liquidity pools. Users who stake liquidity provider tokens, earn Sphynx Tokens.
  • Lottery: Lottery is one of the most unique features of the Sphynx ecosystem, where 1% of tokens involved in every registered transaction are taken under the Lottery Tax bracket. These tokens are then gathered and sent to the lottery prize pool. Prize pools are collected daily.
  • Sphynx Wallet: Sphynx wallet allows users to trade directly, hold their assets, and reduce transaction fees when transferred between different platforms.
  • Sphynx NFT marketplace and collectibles: Sphynx collectibles are one of the trailblazing efforts by an Automated Market Maker (AMM). Launched on October 11th, there are 8,888 collectibles that will reward holders with a small percentage of fees charged on the platform. The Sphynx NFT marketplace allows for users to buy and sell various NFTs listed on their marketplace.

Given the already existing widespread Defi ecosystem and the newly launched Sphynx Digital collectibles to capture the bandwagon of NFT users, Sphynx is poised to be a force to be reckoned with. Traders, both experts, and beginners can visit ShynxSwap’s website to access their extensive offerings.

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A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.