Weekly Update: January 14th- January 27th 2023
Time flies when your building for the future, so we have a two week update this time at Sphynx Labs.
Over the past two weeks, whispers of a bull run have been spoken in hushed tones around the market. Though time will tell if that is the case, the market has seen quite a lot of green lately. Bitcoin is trading steadily around $23K at the moment, quite the increase from $16K mere weeks ago. Ethereum is doing quite good as well currently sitting at $1.6K up from $1.2K at the start of the year. Lastly, Binance continues to climb steadily now sitting at $308 at the time of writing this.
What has Sphynx Labs been doing during this time? Building for the future of course. Last week, Sphynx Labs released Blockchain integration support for the largely requested Polygon Network. Users of the Sphynx Ecosystem can now enjoy the same usability they enjoy on other chains, on Polygon. Such as charting, swap, pools, and a lightning fast bridge. Soon, we will be releasing the first staking pool for a project in Polygon, so stay tuned.
The major news this week was a surprise drop of the brand new Aegis Sphynx NFT Collection, minting on BSC. The Aegis Sphynx NFTs serve as the ultimate multiplier for the upcoming world's first Hyper Pools from Sphynx Labs. The Hyper Pools operate on four levels with the Aegis serving as the 4th and final layer multiplier to the base investment put into level one. The Hyper Pools give out three emissions at once and the Aegis Sphynx unlock the third emission of USDT. The Aegis Sphynx are also the only NFTs from Sphynx that will be able to earn on the Sphynx Chain. More information about the Hyper Pools is being released steadily by Sphynx CEO Lonzo, so stay tuned in the Sphynx Telegram for updates.
In addition to the Hyper Pool functionality, the Aegis Sphynx are also required to become a validator for the upcoming hybrid Proof of Work/Proof of Stake Layer-1 Sphynx Chain. Becoming a validator presents a potentially lucrative opportunity to earn passive income by performing a critical service for the chain through verifying, voting on, and maintaining a record of transactions. More information on Sphynx Chain validation is coming in the future as we draw closer to the chain's release.
Sphynx CEO Lonzo recently stated that he ramping different integrations into overdrive, so expect more chains to come to Sphynx soon, including the partnership teased weeks back as we move through February.
There is much more to come with Sphynx. Stay tuned for Sphynx’s Weekly Updates posted every Friday, or be informed on the Sphynx Telegram, Twitter, and Instagram pages.
Thank you for reading, and have a great week!
Sphynx Labs Links
Aegis Sphynx Mint: https://thesphynx.co/council/56
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