New York, New York–(Newsfile Corp. – April 28, 2022) – Sphynx Labs continues to integrate other Blockchains into its Ecosystem, and this time, they are on Cronos Network. The Team of Sphynx Labs will introduce its token called SPHYNX to be traded on Cronos.
Sphynx Labs on Cronos
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What is Cronos?
Cronos is the world’s first Ethereum-compatible blockchain network. Being backed and supported by one of the world’s leading cryptocurrency exchange platforms Crypto.com, Cronos is an open-source, permission-less Layer 1 chain seeking to rapidly extend the Defi, GameFi, and general Web3 user communities by allowing developers to quickly move apps and crypto assets from other chains while enjoying low transaction costs, high throughput, and quick finality.
Their goal is to expedite the world’s shift to cryptocurrency, creating a user-friendly technology while improving crypto investors’ security and data privacy.
How Will Cronos Benefit Sphynx Labs?
Cronos has witnessed tremendous growth in user adoption since going live in November 2021, exceeding its estimates of having more than 350,000 unique wallet addresses doing transactions on its network. Transaction volume and TVL (Total Value Locked) are increasing in tandem with the Ecosystem’s development, surpassing 15+ million and US$2.5 billion, respectively.
Crypto.com had a massive marketing push last year. During last year, they signed Matt Damon to be the face of their advertisement campaign, created branding partnerships with Formula 1, the Philadelphia 76ers, Paris Saint-Germain, Montreal Canadiens, Lega Serie A, and the Ultimate Fighting Championship. In an ultimate show of their intention to become a mainstay they also signed a 20 year/$700-million naming rights agreement to replace the name to Staples Center to Crypto.com Arena, Crypto.com has become mainstream.
This will benefit Sphynx Labs because more people will have eyes on the project, and users can effortlessly transition from Crypto.com to Cronos. Both the mission of Cronos and Sphynx Labs is to establish mass crypto adoption with an easy-to-use, secure, and open platform, so this integration is an ideal match.
What are the Utilities Sphynx is Offering to Cronos Users?
The goal of Sphynx Labs becoming an All-In-One (AIO) Platform for crypto enthusiasts is becoming a reality, and the integration of Cronos showcases another huge accomplishment for the project. People can enjoy a secure and simplified DEX on the Cronos Network, and the adoption will increase as users will be able to explore the DeFi space, bridging them to Brise, Ethereum, Binance Smart Chain, and Cronos with so many more networks to come in the future.
Media Contact:
Lonzo Arthur
Sphynx Labs
Email: support@sphynxlabs.com
Website: https://sphynxlabs.co
Telegram: https://t.me/sphynxlabs
Twitter: @SphynxLabs
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