Sphynx Launches Decentralized Cryptocurrency Trading Exchange
Sphynx launches its unique decentralized cryptocurrency exchange (DEX) running on the Binance Smart Chain. The platform offers the quickest swap in the industry, allowing investors to trade within 10 seconds, with the lowest fees.
It is designed to be an all-in-one solution for trading, farming, staking, and holding, on a single platform and a consolidated wallet, which improves the user experience and gives investors a birds-eye view of their assets, dynamic charts, farms, and staking portals.
The CEO of Sphynx, Zaidoun “Lonzo” Alowbydi, said, “We are aware of the volume of technologies in the industry, and to create our platform we prioritized the three aspects that impact investors the most: user experience, cybersecurity, and fees. We aim for Sphynx to be a solution that allows veterans and newcomers to have a simpler, smoother, and faster journey by wrapping everything a trader needs in one platform”.
Sphynx’s special features include the lowest fees in the market. Mindful of the current discussions around highly-priced fees in centralized exchanges (CEXs) and the solutions coming from DEXs, the platform will not charge any fees for the first 24 hours of the launch on its swap. There on, transaction fees are set at 10% for makers and takers. There are no fees for transfers or withdrawals other than the network fees.
Sphynx has also introduced “Sphynx Dividend” which will be a weekly distribution to holders from the swap fees, 50% of all fees will be redistributed to holders. This is the first of its kind and they plan to have this for all the platforms they are developing on the swap, things such as Sphynx Bridge (Ethereum), NFT marketplace, Sphynx wallet, and many more as they continue to grow.
The vision is to create a complete ecosystem that allows users to have one application for all crypto-related platforms.
In addition, Sphynx offers an instant exchange of cryptocurrency without the need for the registration of applications, a farming and staking mechanism where users can earn Sphynx tokens.
Sphynx is a decentralized exchange (DEX) that lives on the Binance Smart Chain, designed to allow investors to be able to trade in under 10 seconds. This is achieved by the automated configurations of user experience on the platform, offering the quickest swap with the lowest fees in the industry.
It’s an all-in-one solution for trading, farming, staking, and holding, including one single platform with a consolidated wallet providing a bird-eye view of the investor’s assets, dynamic charts, farms, and staking portals.