All-in-one DeFi platform Sphynx Labs has signed a financing commitment of $50 million with GEM Digital Limited.
According to Sphynx CEO Zaidoun Lonzo Al-Owbydi, “This financing commitment from GEM will give Sphynx Labs the firepower we need to accelerate our timelines on significant new product offerings and technology so we can empower both the seasoned minority and the unseasoned masses with simpler, more accessible tools to develop and multiply their portfolios.”
GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally.
With their upcoming web3 wallet extension and mobile application, Sphynx Labs is intending to provide an all-in-one DeFi experience where users can trade, manage, and earn yield on their portfolio across multiple chains from the same native platform. In addition, the platform has integrated a simple yet revolutionary token launchpad as well.
According to Sphynx Labs, the platform’s long-term goal involves lowering the barriers to entry for investors wanting to add digital assets to their portfolios. “Crypto and DeFi can be complex, highly segmented, and even intimidating for the newest entrants into the space. We want to shorten the adoption curve by providing users with a composable ecosystem of DeFi products, native and integrated, that they can access from one native, intuitive platform,” said Sphynx COO Brandon Dey.
The Sphynx infrastructure supports swaps, liquidity incentives, initial DEX offerings (IDO), and NFT staking on several blockchains, including Ethereum, Polygon, Cronos, BNB Chain (formerly Binance Smart Chain), and Bitgert. The platform is backed by the native SPHYNX token across all chains.
Patrons of the Sphynx platform have raised over $10 million in IDOs and have driven trading volumes well into the multiple millions of dollars. Sphynx Labs plans to unveil their Bonds Marketplace and cross-chain Bridge, along with integrations with additional Layer 1 and Layer 2 blockchains, in the near future.”
About GEM
GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally.
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group based in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 520 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity prole. The family of funds and investment vehicles provide GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. For more information: http://www.gemny.com
