About Sphynx Network
From the BEP20 standard to the BEP721 standard (NFT)
BEP-20 tokens now dominate the DeFi sector on the BSC network, being fungible tokens, they are identical to one another.While these tokens are necessary and will not disappear anytime soon, there are many additional token standards that are rarely discussed, such as BEP-721 tokens, which are non-fungible, meaning that each token is unique due to the token id assigned to it at the time of minting.
BEP-721 are mostly utilized as collectibles, but the Sphynx Network will reimagine their use by introducing them into the DeFi space.
What is SPH?
Sphynx Network is a decentralized token built on Solidity and operating on the Binance Network. The project is audited and secured by EtherAuthority, a notable and esteemed audit company within the crypto space.
What is the project description?
Sphynx Network is using alchemy in blockchain to develop and comply with the next generation of yield farming and liquidity mining by introducing the full potential of non-fungible tokens (NFTs) to the decentralized finance industry (DeFi). Therefore, Sphynx Network developed the conventional DeFi option, which enables LP staking in a number of pools and earns SPH for it, the platform's governance token.
Alchemy in Blockchain it is utilized to mint and stake a single NFT, once only, in order to simultaneously unlock a series of rewards from various platforms! NFT staking is the second product of Sphynx Network's development plan.
When it comes to the NFT marketplace, it is divided into several sections and performs DeFi-specific functions. Users can flip or hold their NFTs, and their NFTs value will increase over time due to the smart contract design algorithm that will distribute a certain percentage of every market place transaction to the value of the NFTs users hold.
The second segment of the market is occupied by fractionalized ownership of NFTs. Holders of Sphynx Network who own an NFT may fractionalize it, deposit them in a vault, and get 100% in fractions, increasing the liquidity of an illiquid product as an NFT.
Another area of the marketplace, where players may trade various assets and use them to customize their characters in their teams, is where players can buy, sell, and couple various breeds of "sphynxies," which are the characters in the game we are developing as the project's fourth product.
The ultimate goal of Sphynx Network's product development team is to deliver an NFT play to earn game, where players are actually getting rewards and making money out of it, on a daily basis.
Characters are divided based on several elements such as earth, water, fire, alchemy, shadow, and psychic, and will have a variety of characteristics such as health, defense, attack, agility, rarity, magic level and more.
The game features two battle modes: adventure, in which players earn in-game rewards and mystery boxes containing BNB, SPH, NFTs, products from the Sphynx shop, and other freebies as they level up, and combat arena, in which players of the same level form a team and compete against other users for BNB, SPH, and NFTs rewards
FAQ
Frequently Asked Question - Sphynx
NFT staking vaults - Become an Alchemist now, with a 5x to 10x reward multiplier
NFT market place - Fractional ownership. Collect them all or become a Sphynx breeder, sell them or use them to gain rewards!
Play to Earn Blockchain Based Game get in-game rewards in adventure mode or fight other users in combat arena to for SPH and BNB rewards.
Coingecko: https://www.coingecko.com/en/coins/sphynx-network
1. Like merging two chemicals in equal amounts, 50%/50%, SPH and BNB. If 500$ worth of SPH then 500$ worth of BNB. The outcome of their mixture is referred to as cake LP, cause of pancakeswap and it holds the value of your combined assets.
Add liquidity here:https://exchange.pancakeswap.finance/#/add/BNB/0x8bAc6b4AF65C8c1967a0FBc27cd37FD6059daa00
2. The LPs are now in your wallet, head to vaults: https://www.sphynx.network/vaults find BNB/SPH vault, after connecting your wallet, click "stake BNB-SPH", now you should be staking, drag the orange line right till the end of it and you should now be seeing how many LP tokens you own, now click deposit. Congratulations! enjoy 5000 SPH each 3 seconds!
*SPH can be bought: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8bac6b4af65c8c1967a0fbc27cd37fd6059daa00
10% transaction fee split:
5% reflection - will be redistributed to existing holders based on their number and proportional to their equities in $SPH, a form of staking rewards, without actually staking but just for holding.
5% auto LP - will be redirected towards the liquidity pool to sustain the price, a defense against dumps.