Automated Market Maker (AMM) SphynxSwap and DeFi and NFT platform Momento have announced a partnership to enhance the NFT space. This partnership means Sphynx Token and Momento will be collaborating for a unique NFT – which will be given away to a lucky winner within the communities along with token rewards.
Technologically, Momento has taken the digital art industry a step further by creating an NFT staking mechanism that allows NFT owners to actually earn through their digital assets. Momento offers a cross-chain token $MOMENTO that runs on the Ethereum network and Binance Smart Chain simultaneously.
SphynxSwap, which is based on Binance Smart Chain, aims to utilize Momento’s staking mechanism to stake their newly launched Digital Collectibles on Momento’s platform. In return for staking, Momento will airdrop tokens to Sphynx holders, thus completing the circle of the symbiotic relationship between them.
The amount of trading, staking and farming platforms out there can be overwhelming and difficult to navigate, creating a massive barrier to entry for those new to the world of crypto trading. Sphynx makes this experience simpler, smoother and faster by wrapping everything a trader needs into one platform. Now, they are adding NFTs to their platforms in collaboration with Momento to further expand their ecosystem. For Digital Art collectors, an NFT from an AMM not only gives a sense of character lacking in most NFTs existing in isolation, but also gives an avenue to earn passive income through staking.
SphynxSwap’s collectibles, known as the Sovereign Sphynx Council, rewards its holders through dividends from its platform’s Ethereum bridge and 50% of royalties from OpenSea. In conjunction with Momento’s staking mechanism, this allows for Sphynx NFT holders to earn much more from holding on to their digital art collectibles.
About Momento
Momento is a DEFI + NFT project which aims to exhibit some of the most interesting and fascinating moments of the past decade, aiming to bring about a sense of nostalgia to people through art. Unlike most NFT projects, Momento does not create NFTs that are only meant for holding but rather meant for earning. We believe that a strong community is the crux of our project.
Momento has 2 categories of NFTs, one which portrays the most iconic moments of the last decade, the other refers exclusively to the most famous crypto projects, showcasing important moments of their crypto journey in a single piece of art.
These NFTs are meant to give collectors a sense of nostalgia, creating something that will never fade away, that they can be a part of.
About SphynxSwap
Sphynx is a decentralized exchange that lives on the Binance Smart Chain, designed to allow investors to be able to trade in under 10 seconds. This is achieved by the automated configurations of user experience on the Sphynx platform, offering the quickest swap in the industry, with the lowest fees in the industry.
Sphynx aims to provide an all-in-one solution for trading, farming, staking, and holding. This includes one single platform with a consolidated wallet to always have a birds-eye view of your assets, dynamic charts, farms, and staking portals so users never have to leave the Sphynx platform.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
