Weekly Update July 16th-22nd, 2022

This past week in the crypto world has seen the market continue to improve into perhaps a cautionary bullish movement. During this time, Sphynx has not only continued an uptrend but is flourishing. In addition, Sphynx Labs has dropped quite a few bombs in terms of development this week and celebrated the launch of the Scion NFTs on Cronos.

The Scion NFT launch on the Cronos chain was met with much fanfare and went off without a hitch after many large AMAs with the Crofam community. The Scion NFTs from Sphynx are unlike other NFTs and offer super utilities such as :

Whitelist Access to all CRO Projects that run presales on the Sphynx Launchpad
Exclusive Access to Premium IDOs on Sphynx Launchpad *must hold two or more Scion NFTs*
Stake your Scion NFT to earn Sphynx CRO
Access to a dual staking pool where you can stake your Scion NFT + Sphynx CRO to earn native CRO at a boosted yield

The price of the Scion CRO NFTs is 800 CRO and can be minted here: https://thesphynx.co/council.

The CRO NFT + Staking Pool is now live as well and can be found here:

A few weeks ago, it was announced that Sphynx Labs had signed a 50 million dollar venture capital deal with GEM Digital Limited. This partnership is massive for Sphynx and allows for much of the project’s plans to be fast-tracked to move Sphynx towards where they want to be.

With the fast-tracked addition of a fiat purchasing option within the Sphynx Wallet App, investors can see some of the GEM partnerships in action right now. Currently, users in many regions can buy with fiat on the BSC Network, with more regions and chains coming very soon. The option to use fiat is one more step towards making the Wallet App the most feature-rich DeFi wallet.

In another major developmental milestone, the first Sphynx Bridge is also live. Users can now remove a barrier to entry when investing in Sphynx CRO and the Cronos chain by bridging their USDC from the BSC to Cronos in just a few easy steps. The Sphynx Bridge was built up to be as streamlined and quick as possible to stand far above any competition. Continued development on the Bridge is coming in the next few weeks, such as USDT integration and other asset support. You can read more about the Bridge by following the link: https://sphynxlabs.medium.com/sphynx-labs-solves-another-issue-of-defi-with-the-release-of-their-bridge-d0f47881a096.

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!

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