Weekly Update: January 28th- February 3rd 2023
This past week, the market has still maintained a generally positive sentiment. The BTC Fear and Greed index sits now in greed, more long positions are being opened, and whispers of recovery are turning to regular proclamations. This positive sentiment is reflected in the prices of major coins still holding positively from last week with BTC at $23k, ETH at $1.6k, and BNB at $330. Will those still pessimistic calling "bull trap" be proven right? We certainly hope not.
Things in the Sphynx Labs camp remain positive and bullish as the team is gearing up to release more utilities than they already have recently in the coming weeks.
This past week has seen Sphynx Labs doing multiple AMAs to push the Aegis Sphynx NFTs that are currently minting now. Soon, the Hyper Pools will be released with never before seen functionality to earn three assets from one pool. The Aegis Sphynx serve as the final level to unlock earning USDT with one NFT, and a final multiplier for every three staked.
The Aegis Sphynx NFTs are also the only public chance to become a node validator on the upcoming Sphynx Labs Chain. You must hold an Aegis as a prerequisite to be a validator, along with other requirements. The ability for passive income from validation, especially on a new chain, cannot be overstated.
Speaking of new chains, Sphynx Labs has also added full Avalanche Chain support to the Sphynx Ecosystem. Users of the Ecosystem can now use the dApp to trade, chart, farm, stake, and bridge easily on Avalanche. Soon, both Avalanche and the also recently added Polygon will have support in the Sphynx DeFi App as well.
In another major update, Sphynx Labs has changed the tax on all $SPHYNX tokens to the following:
CRO, BRISE, APEX, and LOOP $SPHYNX
1% Buy/9% Sell
1% Buy/18% Sell (Will go down gradually)
The team has worked hard to build with sustainability in mind to make a 1% buy tax possible for everyone. This buy tax will go exclusively to a burn.
Support for another chain is coming soon as well on February 7th. Be sure to follow along closely in the Sphynx Labs Telegram as new revelations are coming quickly.
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