Sphynx Labs is officially live on the Loop Network’s Mainnet, and users can swap, bridge, stake, and farm using the Sphynx Labs DEX. Within the first two hours of their launch, the Sphynx token went up over 2000% and is still growing.
What is Loop Network
Loop Network is building a Super Scaling Blockchain Network, allowing for smart contracts without the scalability and privacy issues that older platforms like Ethereum had. Similar to Ethereum, Loop Network enables parties to create smart contracts by defining through code the behaviour of the virtual machine (VM) that carries out the contract’s function.
The Proof of Stake and Authority (PoSA) consensus mechanism used by LOOP Chain allows for quick block times, cheap transaction costs, and a reduced number of validators on the chain’s test net.
What Sphynx Offers to Loop Network.
Sphynx Labs offers the Loop Network an all-in-one platform that makes it easier for users to invest in cryptocurrencies and increases access for those on other chains to join the Loop Chain.
Users can now bridge $LOOP to and from Loop Networks’ Mainnet quickly and safely with minimum effort. Once Loop Network includes stables, users can bridge BRISE, CRO, ETH, and BSC, to LOOP and vice versa.
The Sphynx Labs DEX also offers exchanges with charts, a farming and staking platform, a launchpad, and eventually an NFT Marketplace, so users of the Loop Network will profit from utilizing it.
There are currently four staking pools and one farming pool where investors can earn passive income.
Manual Staking Pool: APY is 7.6%
3-Day Auto Pool: APR is 7.8%
60-Day Auto Pool: APY is 19.1%
180-Day Auto Pool: APY is 38.8%
SPHYNX/LOOP: APR is 122.14% with an x9 Multiplier
Sphynx’s main objective is to serve as an all-encompassing platform for cryptocurrency enthusiasts to invest in, develop, and profit. Additionally, the Sphynx ecosystem’s adoption of Loop Network will increase users’ ability to bridge and trade.
Thanks to Sphynx, many users may trade, invest, stake, farm, launch, and bridge on the Loop Chain. As a result, Sphynx Labs and Loop Network will see an increase in viewers and traffic.
Sphynx Loop CA: 0x3030BbB60574f7DFC989f3ab6cf4fDd1E8A519A9
Sphynx Mobile App on Apple App Store: https://apps.apple.com/app/sphynx-defi-app/id1626361848
Sphynx Mobile App on Google Play Store: https://play.google.com/store/apps/details?id=com.sphynx