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Sphinks Token

The Future Of Decentralized Money

Sphinks Token is a decentralized stablecoin project with no reliance on traditional systems and trusted third-parties. It initially pegs to the USD, though has the capability to transition to a new form of a stable system that has no susceptibility to hyper-inflation or reliance on underlying commodities. The project focuses on harnessing open and decentralized technologies to provide user-friendly monetary systems with next-gen features. It aims to provide private accounts and transactions, smart contracts, fee-less and near-instant transactions, zero reliance on traditional systems and trusted third-parties, high-throughput for global merchant and consumer adoption and a decentralized exchange with negligible exchange fees.

3.7
1 0 expert ratings
Benchy 3.7
KYC
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Review: coming soon PRO

253 days 1 hour left
2019-08-10 - 2020-06-27
Token
SKFT
Type
Price
1 SKFT = 0.1 USD
MVP/Prototype
Platform
NEM
Accepting
BTC
Hard cap
5,000,000 USD
Country
Whitelist/KYC
None
Restricted areas
Australia
Visit ICO website
Report

About Sphinks Token

With the advent of distributed ledger systems that possess the ability to perform as intended without the threat of malicious intervention, we have the power to place code as law and thus removing virtually all forms of trust in any such system. The unique value proposition of this project lies both with the capability to transition to a “virtual” system from its initial fiat pegging and the ability to provide a practically stable currency that is essentially free from nefarious manipulation. The main vision of this project is to provide a transparent and reliable monetary system which functions independently of traditional systems and trusted third-parties. The long- term prospect is to provide both the benefits and means of a macro economic transition from fiat currencies to cryptocurrencies.

The more we understand what gives value to currency we realize that virtual systems with no physical links to traditional systems have the potential to function on a global scale if they provide practical usability with definitive rules in both code and operation. As we analyze the root of perceived value in any fiat pegged or otherwise stable cryptocurrency, there exists nothing other than a unified belief among users of underlying value or concepts to provide volatility mitigation. That belief is formed when a catalyst such as placing a dollar on lien occurs, thereby creating the perception that the user has transferred such value into the tokenized system. This project proposes a different system of “cryptocurrency value transfer with floating cryptocurrency- collateralization” rather than fiat-collateralization or non-collateralization as the mechanism for bringing value to each token; thus removing reliance and trust on traditional systems.

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