Sphynx Network is thrilled to be recognized as the Start up of the year 2021, Bucharest Edition!
Hey Hackers! I’m Madalin, the CEO @Sphynx Network.
First of all, I’d like to say a huge thank you to the @HackerNoon community for recognizing Sphynx Network as the winner of:
Startups of the Year by City 2021 Bucharest Edition.
HackerNoon Reporter: What does it mean for you to win this title?
Winning the “Startup of the year 2021 — Bucharest edition” is a true validation coming from the community regarding Sphynx Network’s vision and concept. The confirmation of their needs to do more with their NFTs and that is obviously fueling our engines and tells us we are on the right path.
#How do you or your company intend to embrace the responsibility of this title in 2022?
Project merges the DeFi zone with NFTs and GameFi space using alchemy in blockchain technology, turning them into a DeFi 2.0 that complies with the new era of NFT non custodial staking and liquidity mining.
Alchemy in Blockchain refers to NFT non custodial staking and liquidity mining.
- An LP (50% SPH and 50% BNB/MATIC) will mint a chest.
- A chest is an ERC721/BEP721 token that will act as a smart wallet for other tokens/NFTs. (it can host other tokens/NFTs)
- Chests can be transferred between wallets with their contained multiple assets, in a single transaction.
- When staking, the holder has to transfer the custody or the ownership of their assets in order to accrue rewards, but the chest allows users to do things differently, in addition to being a smart wallet, the chest has a vault mechanism that allows users to stake tokens to non custodial reward programs, locking them in the chest until the users decides to leave the staking program . (earn rewards without giving away possession of your tokens )
- Even though locked assets can t be transferred before leaving the staking program, chests can be transferred between wallets without interrupting the staking process.
- Chest is designed to to allow users staking the same tokens multiple times in different reward programs simultaneously. (Reward programs are independent from each other, meaning that rewards earn in one program won t affect the other and that subscribing and unsubscribing from one program won t affect the other subs, multiple reward programs can coexist simultaneously) -Users can take part in different reward programs with different tokens all within the same chest.
According to our roadmap once the NFT staking infrastructure is operational we will move on with development to the Marketplae that is divided into different sections.
The segment where users can fractionalize ownership of their NFTs, increasing the liquidity of an illiquid product as an NFT, specially if they have a high value.
Another area of the NFT marketplace, where players may trade various owned items and assets as NFTs. They can customize their characters and breed different Sphynx Civilizations. Players can execute DeFi functions with in game NFTs (like an armor left in crafting for a specific period of time to gain better stats)
The ultimate goal of Sphynx Network’s product development team is to deliver an NFT play to earn game.
Characters are part of different civilizations and are divided based on several elements such as earth, water, fire, alchemy, shadow, and psychic, and will have a variety of characteristics such as health, defense, attack, agility, rarity, magic level and more.
The game features two battle modes: adventure, in which players earn in-game rewards and mystery boxes containing BNB, SPH, NFTs, as they level up. And combat arena, in which players of the same level battle or form a team and compete against other users for BNB, SPH, and NFTs rewards.
#What are some of the goals you’re looking forward to accomplishing in 2022 (whether it be through company initiatives or your personal journey)?
Professional wise everything revolves around Sphynx Network and CoinSiglieri, a crypto consulting agency. Obviously the most important goal is adoption for sphynx network and providing the best services with CoinSiglieri.
#As you look at the variety of concerning trends in the world around you, what solutions can you think of? Name three trends and three solutions. Be as brief or as detailed as you like.
Useless NFTs and lack of infrastructure for this area are more and more of a problem.
The lack of regluation that creates a risky envoirment for investors.
And the MEV (miner extractable value) is a growing issue in the crypto space and sphynx network will address this issue.
#After participating in this journey, is there anything that you would like the HackerNoon team to know?
That Sphynx Network is pleased to be recognized as the winner of the “Start up of the year 2021 — Bucharest edition”!
#What is something special about you or your company that you’ve rarely had the chance to properly share but really wanted to? (Give this one a proper think, I’ll know if you didn’t!)
The fact that Sphynx Network came up cause i have 2 sphynx cats at home :)
#What song or music album are you currently enjoying?
Gucci Mane — Fake friends
#What are some concepts you wish people knew more about?
NFTs, NFT staking, NFT liquidity mining, MEV.
Thank you for everything that you do! — HackerNoon Team.