Sphynx Network (SPH) is a decentralized network built to improve the fundamental nature of DeFi. The network focuses on developing an NFT fractional ownership marketplace as well as a blockchain-based play-to-earn NFT game. The Sphynx Network token complies with the BEP-20 standard, a token standard that allows users to deploy fungible tokens or cryptocurrencies on the Binance Smart Chain.

According to the whitepaper, the Sphynx network aims to solve various industry challenges by combining DeFi and NFT, such as interoperability, scalability, safety, and more. NFT works like an additional fuel and makes the DeFi machine more innovative, which can be implemented in various industries like gaming, digital arts, licensing, insurance, and others. Thus, the network aims to build the next generation of yield farming and liquidity mining technology by utilizing alchemy blockchain technology. For doing so, it implements  non-fungible tokens (NFTs) into the decentralized finance (DeFi) space. In brief, yield farming is a strategy that involves lending crypto tokens in order to generate rewards. Using the liquidity mining technique, users give some of their tokens into various liquidity pools.

Further, Sphynx Network Token with the ticker SPH is the native and governance token of the platform. Users can stake the liquidity pools in order to earn SPH. Sphynx network also aims to allow its users to mint and stake an NFT to simultaneously earn rewards from various platforms. The token is a primary means of exchange in the marketplace and games. 

Madalin Muraretiu founded the Sphynx network in September 2021. Muraretiu also serves as the CEO of Sphynx Network.

Iulia Diaconescu is the cofounder and HR of the platform. Daniel Ilie is the CTO and the cofounder. The Sphynx has a maximum total supply of 1,000,000,000,000 tokens.

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