The complexity of the crypto ecosystem has always been one of the biggest barriers to entry into this lucrative space. Cryptocurrencies and decentralized systems, in general, are novel, esoteric and non-intuitive concepts. Added to it is the fact that most of the work in the crypto-verse has been done in development and not for the user interface, making it difficult for beginners to adapt.
Even though the crypto ecosystem is as old as Bitcoin itself, it wasn't till 2017 that real use cases started to sprout up within the ecosystem. Up until that point, the majority of projects were financial tools. Each project was a hyper-specialized venture meant to offer one to two services. It made perfect sense at that time because each problem was new, and had never been solved before. In order to start getting traction, projects were eager to come into the market as soon as a Minimum Viable Product (MVP) was ready. It was essential to get into the market as quickly as possible to capture the market share.
The industry has evolved as the necessary tech infrastructure is now ready. However, there is a need for consolidation of the existing fragmented market. The need for an all-in-one platform especially becomes apparent in the decentralized finance (DeFi) sphere. Beginners in the ecosystem often find it cumbersome to use multiple platforms for each function and application DeFi provides. Thus, most are forced to use one platform for trading, another for holding, and a different platform for staking, or shy away altogether.
At this juncture with the philosophy of consolidation and user experience at heart is where SphynxSwap comes in. The Sphynx platform is designed to meet all DeFi needs in a single space. Built on the Binance Smart Chain, SphynxSwap is a decentralized exchange devised to allow investors to trade in under 10 seconds. It is an all-in-one solution for all DeFi needs such as farming, holding, trading, charting, and staking assets.
All DeFi Tools on One Platform
Users of the Sphynx platform are provided with an intuitive trading platform designed to not only help beginners but also be exhaustive enough for experienced traders on the platform. Coupled with trading, the Sphynx platform also has dynamic charts. Users do not have to leave the platform to perform token analysis.
Beyond trading, users can also earn passive income on the same platform through staking. Sphynx offers the industry's best APRs that are not only a lucrative financial opportunity but also safe and secure. They do not lock up a user's staked coins for extended periods like most platforms that offer Staking giving users the ability to withdraw as they please.
Trading and staking are the most commonly used features in the DeFi space but Sphynx goes beyond these fundamentals. The Sphynx platform gives its users an incentive to be on the ecosystem through its lottery. 1% tokens involved in every registered transaction, buying or selling, are taken under the Lottery Tax Bracket which is accumulated sent to the lottery prize pool. Users can win daily prizes with this pool.
As NFTs are a big part of the crypto ecosystem, the Sphynx platform has integrated it too through their series of collectibles. These collectibles, known as the Sovereign Sphynx Council, reward its holders through dividends from the platform's Ethereum bridge and 50% of royalties from OpenSea. Additionally, holding the NFTs give users another avenue to earn passive income.
Sphynx is a classic example to show how the decentralized space has matured to accommodate user experience in the past couple of years. Having all these features on one platform where users can seamlessly flow between features makes SphynxSwap one of the best platforms to be used by beginners and professionals alike. Professionals can save time as Sphynx meets all DeFi needs and beginners can bypass the learning curve through Sphynx's learning tools.