Weekly Update: July 8–14, 2022

After an exciting week of the Sphynx community witnessing the release of the Mobile App and Wallet, plus hearing the announcement of the $50 million financing agreement with GEM, the team of Sphynx Labs continues to push forward with the release of the NFT + Sphynx Staking Pool on BSC and adding two new farming pools with stables.

The NFT + Sphynx Staking Pool to earn BNB is live, meaning that investors can stake their BSC Scions and their Sphynx BSC to earn BNB. To enter the pool, a minimum of one BSC Scion NFT and 10,000 Sphynx BSC need to be staked. Investors may stake more than 1 NFT and more than 10,000 Sphynx BSC, which allows for higher returns.

Since this pool lasts for 30 days, you will be penalized if you stake and unstake during that time. Adding to the pool will cause the 30-day timer to resume. Therefore, the timer will restart from the moment the tokens are added. For instance, if you staked 10,000 Sphynx tokens and added later 5,000 Sphynx tokens. Harvesting the BNB rewards will not reset the timer.

New stable token farms are now available on BRC. Investors can either farm USDT/BRISE or USDC/BRISE to earn SPHYNX BRC with high APRs and multipliers.

More and more projects are being discussed with Sphynx Labs to either launch on the Sphynxpad or create farming and staking pools. In addition, as we saw last week, more AMAs will be coming to Sphynx Labs.

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!