Making Trading Easier, One Feature at a Time

Sphynx Token

With the cryptocurrency industry evolving at such a rapid pace, the vast array of utility functions in the cryptocurrency space expands simultaneously. These days trading cryptocurrencies is but one option amongst many others such as yield farming or staking for example. However, a common complaint when trying to navigate all these options is the difficulty in finding a quality all-in-one platform, where users can manage their investments. SphynxSwap provides a solution to this problem with their decentralized exchange (DEX) that utilizes the Binance Smart Chain Network and attests to a platform that offers the quickest swaps for the lowest fees. Moreover, Sphynx Swap achieves this whilst providing an all-in-one eco-system to manage various cryptocurrencies efficiently, safely, and via multiple avenues of utility.

Introducing SphynxSwap

Let's examine what exactly SphynxSwap brings to the table in order to be considered an all-in-one platform. To truly understand this, it is important to touch upon certain concepts. Trading is fairly self-explanatory where one token is traded for another. Staking is where users commit their tokens on an existing platform (such as Sphynx) and as a result, earn rewards. Yield farming, whilst similar to staking in that you can earn passive rewards, is different in the sense that it generally carries more risk. You may suffer impermanent loss as your tokens are sent to a decentralized protocol, however it can on the flip side be more profitable. NFTs (Non-fungible tokens) are essentially a digital asset that represents something that cannot be duplicated or replaced, for example, a photo, an audio file, or artwork. Finally, the SphynxSwap platform has a wallet, which is a secure place to hold tokens.

Whilst blockchain technology isn't limited to just these concepts, it is a brief overview of some of the ways in which you can utilize various cryptocurrency assets. The difficulty with these various components (an exchange, wallet, farming, etc.) is that often it requires several different platforms in order to participate in and manage all the different options. This can discourage new users, resulting in multiple accounts, higher fees, and potentially compromised safety. This is where Sphynx Swap excels, it's designed for ease of use to encompass multiple platforms into one inter-operable eco-system, and its partnership with CertiK International means the entire platform is checked for bugs, thus mitigating the risk of hacks.

The Sphynx Ecosystem

SphynxSwap has revolutionized the decentralized finance (DeFi) industry by integrating these various platforms and features onto the SphynxSwap platform. The SphynxSwap exchange is decentralized, which means traders remain in complete control over thier own finances. Their exchange is also listed on Coin Market Cap, which means all of the tokens listed on SphynxSwap will also be available to view on CMC, which helps attract more attention to the platform. SphynxSwap also has dynamic charts, which update instantly, allowing traders to make trading decisions within seconds of the price being updated.

The project also has its native $SPHYNX token, which can be earned through purchase on the DEX, staking, and farming. Another notable development to mention is the platform's own NFT collectible series which allows users to gain access to the newly-launched Sphynx Pad and investment opportunities in the projects that list on there. This collection includes 8888 NFTs of Sphynx's own Sovereign Sphynx Council NFTs. These collectibles also come with an additional utility as they help reward holders with a small proportion of the fees charged on the platform. Consequently, one can see that Sphynx has designed an eco-system that establishes itself as an all-in-one trading experience, whilst rewarding users for participating on their platform.

The Future of SphynxSwap

SphynxSwap will have its very own lottery system whereby 1% of transactions are allocated to a lottery prize pool, with lotteries being drawn on a daily basis for their users. SphynxSwap's future plans include an interoperable eco-system across different chains with a cross-chain bridge, meaning that users will be able to convert their tokens from the Binance Smart Chain Network to the Ethereum Network. This level of interoperability ensures that Sphynx Swap delivers a highly functional ecosystem for its users.

SphynxSwap delivers all these features to their users at an extremely low cost on a single platform that functions at extremely high speeds. The platform leaves seasoned traders with a taste of convenience and effortless trading, thus easing the burden of managing cryptocurrency assets in a fast, low cost, and easy to use fashion, making trading easier, one feature at a time.