Recapitulation of SphynxSwap PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 22nd October, 2021
Time: 16:00 UTC
The SphynxSwap PROJECT team was represented by @Lonzocrypto and @Doctordey who judiciously shared with us detailed knowledge and information about SphynxSwap PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on SPHYNXSWAP?
ANS: My name is Lonzo and my partner here is @doctordey, we have been working on sphynx for more than 30 weeks now. We met in after being invested in a number of projects together and saw the advise we used to give to other projects and we shared very similar vision in how this crypto space is. I thoroughly value what B has done for sphynx as his background in running a number of successful businesses including a digital marketing agency which has really shinned a great light onto sphynx and has helped it get to where its at today.
we are also a team of 9 developers as well as a admin and mod team of over 35 people. Very large team as its a massive project compared to whats being put out there currently in the space.
Q2: Can you introduce SPHYNXSWAP , what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Sphynx swap is an all in one decentralised exchange, we aren’t just a “swap” as we provide DEFI utilities including farming and staking (launching soon) but we provide an platform for current crypto users and users who have never bought crypto a platform where it’s simple and easy to buy and sell crypto. Our all in one platform reduces the amount of “clicks” investors need to make and automates trades to reduce the chances of making a mistake, especially for users who are new to the space. Our swap includes auto slippage, auto population (will set up the swap to buy and sell depending on what you select). Our charting system includes features to show when users have bought and sold, as well as access to anything from our LP as well as anything on Pancake Swap.
I am not a fan of restricting users to what they can and can’t do and believe in open platforms which give access to as much as possible, therefore our swap always investors to buy anything from our swap as well as anything they normally would if it’s on pancake swap, with a much more simpler and easy to use experience.
Our main purpose is to allow users to not have to sell tokens to make some sort of profit, therefore we are redistributing 50% of all the fees the swap makes to our holders on a weekly basis.
Our first payment will be a redistribution of 100% of the fees as a reward for our current holders.
We want to create a safe place for people to come and enjoy trading to ensure they know what they are investing in and are investing in real utilities being built on the block chain. The space is too beautiful and is currently getting destroyed by people who are looking for a quick gain and theres more people losing then winning. So we are trying to revamp this and change the culture with firstly the hardest chain, BSC.
I think a massive part of our competitive edge is our willingness to iterate, continue building on the product, and give our community the featured that they have a thirst for
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: We have launched 4 weeks ago and are currently around a 10m market cap and are currently waiting for CMC and CG to list our exchange (token already listed). Once this is achieved (SHOULD BE ANYDAY NOW) we will be able to launch our staking and farming and start rolling out our other utilities at a much more faster pace. Most our utilities are nearing being finished and we will be banging them out at a speed no other project has ever achieved. Just like how we launched with our platform being live already.
We have so much we want to bring into this space in terms of utilities from our launchpad, wallet (both app and browser extension), bridges, NFT marketplace (cross chain marketplace), lottery, predications, SPHYNX TV and our most exciting feature, cross chain. If you head over to our swap site https://thesphynx.co/#/swap and click on the top right hand corner, you will see the chains we are aiming to tackle. Eth will be our first one which will line up with our bridge. This aligns with our NFTs https://soverignsphynxcouncil.co/ which we give back to the holders fees from the bridge as well as % of the royalties.
- Launch Sphynx Swap with native Sphynx LP
- Launch Sphynx Charts
- CoinGecko Listing
- CoinMarketCap Listing
- Sphynx NFT Launch
- Launch Sphynx Staking
- Launch Sphynx Farming
- Launch Sphynx Launchpad (IDOs)
- MultiChain Swap (ETH as first addition)
- MultiChain Charts (ETH as first addition)
- Launch Cross-chain Bridge (ETH)
- Launch Sphynx Mobile App & Wallet
- First CEX Listing.
Q4: Finally, Can you give an overview of YOUR Tokenomics, and the UTILITY of the $SPHYNX?
ANS: Our tokenomics is 11% tax, with 1% lottery, 5% marketing and 5% development.
As mentioned earlier, our utilities are endless from launchpad, wallet, bridges, charting, swap, predictions, stop loss limit orders, SPHYNX TV and many more, and most importantly, all this will be on one platform, one application, no more having to jump around the different URLS, tabs etc.
Simple to use and for anybody whether they’ve been in this space already or for anyone who’s never bought a token before as our main objective is for mass adoption.
https://thesphynx.co/#/swap check us out and I promise you will not be disappointed.
The Utility involves developing a Decentralized All in One platform that allows users to execute any and every task needed to manage, develop, and grow their portfolio
Along with a few fun additions :)
2nd Segment: LIVE Questions
Q1: Though the NFT space has continue to experience a tremendous increase in size and volume, unfortunately, NFT holders still couldn't earn passive income through their NFTs and this has remain a major painpoints which needs to be addressed. How does SphynxSwap intend to solve this? What innovative solutions will you come up with to help make NFT holders earn passive income through their NFTs?
ANS: We have a partnership with Momento which will allow owners to stake their Sphynx NFTS
We also have a game in development which will have a P2E / P2C component
Q2: I think hack and loss of investors fund is the greatest nightmare for DEX. Knowing that, I hope you know conducting a audit once and feeling relaxed about it is suicidal. What proactive measures and committed efforts are you going to take to ensure you are constantly enforcing safety and ensuring dynamism of security measures a rapidly innovating world
ANS: of course, we have already got a certik audit and are live on skynet. Certik partnership is very important for a project at this calibre and we always put our investors safety as our number one priority.
Q3: To make Your Platform Secure What steps You have done , Is Smart Contract has passed the SECUIRTY AUDITS , Which Company has Completed AUDIT Process ?
ANS: Yes we have been audited by Certik
Both Token and Masterchef
Q4: While swapping fees play a very important role. So I want to know about Sphynx swap fees. Does Sphynx has the same fees as other Swaps or it has less or more?
ANS: our fees for buying is .1% for buying and selling.
Q5: How will you keep your headlines active and lively at the same time? Will there be a reward for your most active and loyal users? How does SphynxSwap spread its name throughout the crypto space and thus be able to attract more people who hope to know a project like this?
ANS: We currently have a partnership with LUNA
They are one of the most prestigious marketing firms within the Crypto space and have a wealth of resources for us to continue expanding our audience, holder and user base, and partnerships with other projects.
Q6: Hello sir, 💢I have tried to connect my wallet with sphynxSwap. But there are two tabs SPHYNX-LP and PVC2.
What tab should I select?
ANS: SPHYNX-LP the pcv2 allows you to purchase anything as you normally would if you want to buy a token from pancake swap, i.e safemoon etc.
Q7: I was excited when I saw that Sphynx platform provides its users with dynamic charts where one doesn’t need to leave the platform in order to perform token analysis. Will this Charting feature be free for everyone or its mainly for Token holders? Are the charts made in such a way that beginners can easily make use of them or it suitable only for expert traders?
ANS: The charting feature is free for everyone
It's been designed to be suitable for individuals who are new to the space as well as those who have a bit more experience.
Q8: Seeing that among their services to offer on their only platform are Staking and Farming, how do they guarantee a backup for these services and on the other hand, I read that at the end of the pre-sale they will transfer ownership of the project to a MasterChef contract, but as such what is this MasterChef contract and what utilities does it have or what is it for in general?
ANS: masterchef is what controls the rewards, basically the contract is given up to the masterchef and only the masterchef can control the mint function. No one controls the masterchef as once it goes live there is no going back. We've taken the correct security measures to ensure no exploits can happen and we work regularly with them to continuously improve our current utilities and future utiltiies
Q9: Standing out amongst a sea of project is not easy and one can only be top by maintaining a solid standard. Do you have any plans to introducing " wicked features" that would in no doubt put you at the top echelon on projects on blockchain i.e the Platinum and Gold standards level ?
ANS: Personally I believe that our plans for a Bridge and Cross-chain swaps and charting is preeeeetttttttyyyyyyy wicked
In addition to the NFT Marketplace ;)
Q10: What are the Experience and Expertise of your Core Team Members , Are the Team Members are Anoymous , How many Total team members are Working in your platform ?
ANS: I come from a background of
Law (licensed practitioner)
Entrepreneurship (have successfully built and own 3 businesses)
Marketing (one of said businesses is a marketing firm)
I have been heavily involved in the crypto space since late 2017
We have two other founders, 9 devs, and over 30 mods in our team :)
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