Blog Post: Making Trading Easier, One Feature at a Time

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, whereby you can manage your tokens with a variety of options. Sphynx Swap provides a solution to this problem. Sphynx Swap is a decentralized exchange (DEX) that utilizes the Binance Smart Chain Network and attests to a platform which offers the quickest swaps for the lowest fees. Moreover, Sphynx Swap achieves this whilst providing an all-in-one eco-system to manage your cryptocurrencies efficiently, safely and via multiple avenues of utility.

Let’s examine what exactly Sphynx Swap brings to the table in order to be considered an all-in-one platform. To truly understand this, we need to also touch upon certain concepts. Trading is fairly self-explanatory where one token is traded for another. Staking put simply is where you commit your tokens to an existing blockchain network and as a result you can earn some 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 token) are essentially a digital asset which you can own, whether that’s a photo, an audio file or something else. And then of course there is your wallet, which is a secure place to hold your tokens.

Whilst blockchain technology isn’t limited to just these concepts; it should inform you of a brief overview on some of the ways in which you can utilize your 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 of these different options. This can discourage new users, result in multiple registrations/accounts and incur more fees and potentially at a higher cost. This is where Sphynx Swap excels, it’s designed for ease of use to encompass multiple platforms into one interoperable eco-system.

Now, let us analyze how these various platforms and features will be integrated into the Sphynx eco-system. First of all, their exchange is decentralized meaning you will retain control over your own finances. Their exchange is also listed on Coin Market Cap. This means all of the tokens on Sphynx Swap will also be available to view on CMC, which will help attract more attention to the tokens on Sphynx Swap. Sphynx Swap will still have their own dynamic charts that you can see on their platform too. The project also has their very own Sphynx token, which can be earnt through both staking and farming as well as conveniently stored in the Sphynx wallet. Another notable development to mention is the Sphynx NFT marketplace. This will include 8888 NFTS of Sphynx’s own ‘Sovereign Sphynx Council’. These NFTS will also have utility as holders will be rewarded by a small proportion of the fees charged on the platform. Consequently, one can see that Sphynx has designed an eco-system which establishes itself as an all-in-one user-friendly experience, whilst rewarding users for participating on their platform.

So, what other forward-thinking features does Sphynx Swap have and how does this enable the project to stand out from the crowd? Sphynx will have their very own IDO (Initial DEX Offering) Launchpad, meaning new tokens that aren’t available elsewhere will be able to be purchased through Sphynx Swap. Sphynx will also have a lottery system whereby 1% of transactions are allocated to a lottery prize pool, with lotteries being drawn on a daily basis for their users. Sphynx Swap’s future plans include an interoperable eco-system across different chains with a 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 eco-system for their users.

The sheer amount of utility that Sphynx Swap is providing is clearly evident. Sphynx Swap delivers all these features to their users at an extremely low cost on a platform which functions at very high speeds. One has to contemplate, why try and use a multitude of various applications/platforms when Sphynx can ease the burden of managing your cryptocurrency assets in a fast, low cost and easy to use fashion that rewards you. Put succinctly, Sphynx Swap provides an efficient all-in-one eco-system to cover all the needs of its users making trading easier, one feature at a time.