# SphynxSwap

The first thing we need to do is address the elephant in the room.&#x20;

_Why_ buy through SphynxSwap and not any other swap?&#x20;

Well, with SphynxSwap, you can instantly swap/exchange crypto currency tokens without having to go through any registration of applications. We charge very low fees when compared to our competitors. ​We do not hold or control your funds — we simply give you the ability to do so. You won’t need an account in order to use SphynxSwap. You are always in control.​ Not only this, but you can earn **$SPHYNX** and other tokens for free with super high interest rates.​

Upcoming projects will be incentivized to launch on SphynxSwap through our LaunchPad, which is set to go live on October 10th, 2021. An overview of this utility can be found in the "**Additional Utilities**" section of the Gitbook.

### _**Trading fees**_ <a href="#trading-fees" id="trading-fees"></a>

When it comes to centralized exchanges, many of them charge "taker fees" from the takers and "maker fees" from the makers.&#x20;

_**Takers**_ are the people removing liquidity from the order book by accepting already placed orders, while _**makers**_ are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. In this scenario, the exchange would charge the takers and makers the same fee.&#x20;

When it comes to decentralized exchanges, many of them don't charge any trading fees at all. This is one of the big arguments that DEX-supporters use to explain why centralized exchanges are on borrowed time.

SphynxSwap will have no swap fees for the first twenty-four hours of our liquidity getting added to our swap. This will occur on Sunday, October 10th, 2021. After that zero swap fee period concludes, charges will be 0.10% (PancakeSwap charges 0.25%) per transaction regardless of whether you are a maker or a taker.

### _**Withdrawal fees**_ <a href="#withdrawal-fees" id="withdrawal-fees"></a>

SphynxSwap does—like most decentralized exchanges—not charge any transfer fees or withdrawal fees other than the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure.

Generally speaking, to only have to pay the network fees should be considered as below global industry average when it comes to fee levels for crypto withdrawals (if you include all exchanges, both DEXs and CEXs in the data set).

### _**Is SphynxSwap safe?**_  <a href="#is-sphynxswap-safe" id="is-sphynxswap-safe"></a>

We believe in complete transparency and respect for our community’s sentiments. This is why we're built on an open-source software platform, and our site and smart contracts are visible to everyone on the world wide web. All of our contracts, including the token contract, have been audited by well-known and trusted names in the space. Not only this, but our contracts are verified on BscScan, so you can see exactly what you're investing in.&#x20;

## "How do I buy on SphynxSwap?"

Once the funds have been deposited into your MetaMask wallet, you can head over to [https://thesphynx.co](https://thesphynx.co) to purchase **$SPHYNX**.&#x20;

![](https://1120778327-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MghTxZPHJuXEpTol7Jf%2Fuploads%2FZJgs0E1BeRMKxARDdELr%2Fimage.png?alt=media\&token=009992b2-7cae-4c07-8d6f-5e243bf7dc3a)

At the top right of the page, you will see “**Connect**”. Please click that to connect to a crypto wallet such as MetaMask.

![](https://1120778327-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MghTxZPHJuXEpTol7Jf%2Fuploads%2FEGMCEAtwdfvAwInOFw0N%2Fimage.png?alt=media\&token=5b790044-6392-4e0e-a2f6-2e57d682916e)

Please select MetaMask to proceed with connecting your wallet.

![](https://lh4.googleusercontent.com/UtEAi6Z4OkJVPAP_A0nlx60Arptsu93GowsApIgv4J6TA4WD5A3QrldeENJnl3YRKEuAdCILp3HURyz1h1bDHaONSEKqqjHwGv5vu52aD8smZNrgU70iQO356UsOzEBScpnx0uvM=s0)

Please click “**Next**” to fully establish a connection between your MetaMask wallet and the Sphynx platform.

![](https://lh6.googleusercontent.com/7NkmjT-7au5IiZjXbQ3Z-Dcae83N-tN6KmPM2wvinDGXnbz2U7y8Yk21TE3aZqpqRRcd54QGi6kvszKWQpTF4G9QRh9qAG-9u8N5auYaPI4UOdYPBxerkzhV_O2VGdujjU2-HG1H=s0)

Congratulations, you are now connected!  &#x20;

![](https://1120778327-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MghTxZPHJuXEpTol7Jf%2Fuploads%2FDsJAR262QZ5hMb70GaHz%2Fimage.png?alt=media\&token=03ab3222-0e69-454b-a712-7ba097dbad8a)

To the left of your screen, you will see the option to swap, with Sphynx already loaded onto the swap. With your connected wallet, please enter the amount of **$BNB** you’re willing to swap for Sphynx with.&#x20;

Please note that to engage in trading on the Binance Smart Chain—or any smart chain for that matter—you need to spend a little bit of that native currency for gas fees. So if you have 1 **$BNB** in your wallet, you should try to save at least 1% of your total funds for gas fees. &#x20;

![](https://lh3.googleusercontent.com/U7kWMAQgxgvHSPQw_Wg40HjTc7_wM04eHpD5ISAoFuD0q5IqTagnsaofnkWP3k_PtvrSEXe9o7DmBfq3cysWHzg_SKs07ErJ7gIyT_DWlxSuOMZYI6PiyeiklnsBNAkVoqbKTAt6=s0)

Once you are satisfied with the amount, please click “Confirm Swap”.

![](https://lh3.googleusercontent.com/Gic9v--N677eezKHvlxHb6DzZTYLicIDdng5V8W8z9-cMiBvdnfYo4AYUDUN0UKwzkjsrpGRgurGjbaDQY9GuCpC65ZhwIGV3g7bUsOeOLuS5AFUABWqL2Zl2dCWeRhy1-Tabtcd=s0)

You will then be met with a prompt from MetaMask, requesting your permission for the swap. Click “**Confirm**” to accept the transaction and voila — you have successfully purchased **$SPHYNX**!&#x20;

## “I am getting a gas estimation error when trying to swap.”

This may have to do with high volume, so the investor should attempt to either increase the slippage or refresh the page. Usually the latter is the quickest option.

## “What’s the slippage?”

The recommended range would be 12-15%.

**Note**: it's imperative to understand the distinction between the terms "**slippage**" and "**tax**".

It doesn't matter if you increase your slippage to 15% or even 25% because you will **only** be taxed 11% as per our tokenomics. The reason why slippage has to be increased in some instances is to counter volatility when there's a surge of volume coming through.

## “Why am I getting an insufficient liquidity error?”&#x20;

This may have to do with the liquidity not existing for that particular token. For instance, **$CAKE** will not have liquidity on Sphynx, but it will through PancakeSwap, so make sure for this example to select “PancakeSwap” instead of “Sphynx LP”.

Conversely, with Sphynx’s liquidity having migrated from PancakeSwap over to our own swap, investors will not be able to swap for **$SPHYNX** unless they are using "Sphynx LP" as there would be no liquidity that’ll exist on PancakeSwap. \
