Sphynx Labs to launch with one supply after the merger of their BSC and ETH holders
After weeks of planning and preparation, Sphynx Labs is addressing the price gaps between the Sphynx BSC and Sphynx ETH.
How are they going to do this?
The Sphynx Labs team and its Advisors have decided to rebrand and relaunch the token on only the BSC network.
Currently, there is supply on the BSC and ETH networks which is why there is a Sphynx BSC and Sphynx ETH token. Now, the two will be combined into one token, creating a rebase effect. This means that holders will receive half of their tokens, but the relaunch price will keep them at their full value. So if someone is holding 1m tokens that is valued at 1BNB, they will receive 500k tokens that will still be valued at 1BNB when the token relaunches.
All of their effort and focus on the token will become clearer and more understandable. The utility will remain multi-chain, and the buybacks and volume will be pumped into one chart.
What are the next steps for investors to do to receive the relaunched token?
Investors will have three days to unstake or remove their LP. After the third day at 9 p.m. UTC Monday March 28th, a snapshot of holders on both BSC and ETH will be taken, followed by a 48-hour relaunch.
Because the Sphynx team is aware of the costs associated with farming, they will pay any tax fees associated with the relaunch. For this reason, they suggest that anybody farming remove the LP and give the txn using the form below:
Any purchase of the Sphynx ETH token side will not be honored for the relaunch as of Friday, March 25th, 9am. Any BSC purchases will be honored till 9pm UTC, Monday March 28th.
What is coming up with the relaunch of the Sphynx BSC Token?
⁃ Brand New Marketing Team
⁃ New Brand
⁃ New Integrations
⁃ Wallet Extension release
⁃ Mobile Application release
⁃ Sphynx Pay Integration
⁃ New Staking Pools
⁃ New Farms
⁃ CEX Listings
The Sphynx Bridge will be primarily dedicated to Alt coins and Stable coins. This will benefit NFT genesis holders while also increasing DEX volume. Having one chart rather than numerous charts will make it easier for project to acquire some Xs as they expand. Due to the complexity of the situation with $SPHYNX BRC, the team is now handling it as a distinct project. This does not mean that Sphynx Labs will bridge the two but instead will be seen as two separate projects being ran by the same team.
(This message does not effect SPHYNX BRC project at all and is only for the current BSC and ETH SPHYNX holders)