Sphynx Labs is an Automated Market Maker (AMM), and the Exchange is at the heart of Sphynx Labs. Sphynx Labs is the leading AMM on the Binance Smart Chain and, as statistics tell, the most user-friendly Decentralized Exchange (DEX) ever!
The Sphynx Labs Exchange offers several features that support decentralized trading:
Sphynx Labs lets users trade without the need to go through a Centralized Exchange. Instead, everything you do on Sphynx Labs is routed directly through your wallet—no need to trust someone else with your coins!
You can only swap tokens on Sphynx Labs if there is enough liquidity for those tokens. If nobody has added much liquidity for the tokens or tokens you want to swap, it will be difficult, expensive, or impossible to do so.
Providing liquidity will get you LP Tokens, which will earn you rewards in the form of trading fees to ensure there's always liquidity for the Exchange to use.
Yield farming lets users providing liquidity earn SPHYNX rewards by locking their LP tokens into a smart contract. The incentive is to balance out the risk of impermanent loss that comes along with locking in your liquidity.
Initial Farm Offerings (IFOs)
An Initial Farm Offering is an event that lets users buy into a limited-time offer to purchase new tokens. The IFO price is usually very generous.