Weekly Update: Oct 21st–27st, 2022.

This week saw the market hint at some signs of life. Bitcoin is somewhat stable at around 20k, ETH at 1.5k, and BNB is over $300 at the time of writing.

Sphynx Labs has as always been taking this trying time to build the platform that everyone in DeFi deserves.

Much work has been completed on the new Sphynx cross-chain NFT Marketplace. Sphynx Labs CEO Lonzo stated that the first chain would be going live next week, with a planned update to a new chain every two weeks. The current first chain to go live will be Loop Network to give a secondary market to the Sphynx Loop NFTs.

Work is also steady on the Sphynx Chain. The chain will serve as the “centrepiece” of the Sphynx Ecosystem. The chain is a hybrid consensus of Proof of Stake and Proof of Work. The chain is based on the EVM and will feature a blistering 150,000 TPS. More information about the chain and how it will play into each Sphynx Token will come in the next few weeks.

The Sphynx App now supports the two newest chains, Loop Network and Apex Chain. Development to fine-tune the application is ongoing, and updates are regularly occurring. In addition, the App offers security in DeFi with only one connection needed to trade across major chains. The application can be downloaded from the Linktree below.

The Sphynx Team would like to thank the community members for sticking with us through this bear market. Your trust is never taken for granted; we are using this time to build something real, and quality takes time.

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.

Sphynx Linktree: https://linktr.ee/sphynxlabs