XGT IDO, Listing & Migration Recap

The XGT V2 IDO was a massive success!!! We sold out and successfully listed on PancakeSwap and Honeyswap at 4pm UTC, July 7th. Our team has been working tirelessly for months on end to bring you the best yield farming and e-commerce experience known to man.

Now let’s dive into the specifics on all the events that occurred and next steps.

V2 XGT IDO ON BSCPAD & TRUSTPAD

Everything went along as scheduled, the V2 contracts were deployed on the 6th July, 24 hours before the IDO took place. The dual IDO started on BSCPAD & TrustPad at 8am UTC and successfully concluded shortly after the FCFS round at 1pm UTC. Both sales were successfully filled! A massive success for the team and supporting community/investors.

Any allocations were adhered to on both BSCPAD & TrustPads tier structures.

V2 XGT LISTING ON PANCAKESWAP & HONEYSWAP

V2 XGT was listed at exactly 4pm UTC, July 7th, 2021. The pools that were created were on Honeyswap(XGT-xDAI) and on PancakeSwap(XGT-BNB). Liquidity was then locked in Unicrypt shortly after the listing.

The current market cap isn’t displayed correctly on Dextools, since it includes the vesting and migration contracts. We will be updating our frontend on Xion.Finance to display the correct market cap soon. We will release the current market cap in our telegram channel shortly before our frontend is updated.

There was also a slight distribution problem at TGE, where those that bought XGT on BSCPAD & TrustPad did not receive their 50% TrustPad allocation at TGE. We acted as fast and efficiently as possible to rectify this distribution and sent out the 50% TrustPad allocation shortly after.

SEED, PRIVATE, PUBLIC VESTING

A lot of queries have come forward on what the vesting and cliffs are for each launchpad and decentralized VC(Safelaunch). Here is a breakdown of the vesting and cliffs that were created for each round and sale.

  • Seed Vesting and cliffs: 3 month cliffs, 12 month vesting
  • Private Vesting and cliffs: 2 months cliffs, 10 month vesting
  • BSCPAD & TrustPad IDO Vesting: 50% at TGE and 25% per week
  • Safelaunch allocations Vesting and cliffs: 2 months cliffs, 10 month vesting(same as private). Since you bought an average price between seed and private that’s based on the private vesting and cliffs. Safelaunch also invested in Xion and therefore they sold their allocation to their community, there are no special privileges that come with your allocation from them.

Tutorial to check how many tokens you have in your personal vesting contract:

  1. go to: https://bscscan.com/address/0x58835f7a691de30057d1835aeee9bf280521722d#readContract
  2. Scroll to “14. vestingContractOfRecipient”
  3. Put in your wallet address that you received vested tokens to, click Query
  4. Click on the Address below that appears and check the token balance of this contract. This is your personal vesting contract.

The Xion team handled all the disti

Migrations

Migration from V1-V2 has been made available on Xion.Finance to swap your V1 XGT to V2 XGT tokens on the xDAI and BSC chain. We are working hard to release the xDAI<>BSC bridge, currently BSC to xDAI is working but xDAI to BSC is a bit more tricky because of the validator signatures. The automatic migration for xDAI is also underway. These will be released soon on Xion.Finance.

  • Fair V1 XGT Price for conversion: $0.05
  • 5% migration bonus is only applicable for 48 hours from listing(4pm UTC, July 7th, 2021)
  • V1 XGT contract BSC: 0x0bbd11dd1db6302faf0f318abe84661a52f7bc2c
  • V1 XGT contract xDAI: 0xf1738912ae7439475712520797583ac784ea9033
  • V2 XGT contract: 0xc25af3123d2420054c8fcd144c21113aa2853f39

Example of how V1-V2 migration works: 300 v1 at $0.13 = $39 -> migrated to v2 based on $0.20 price = 195 XGT + 5% = 200+ XGT. Worth $40+

The xDAI <> BSC bridge, the xDAI and BSC pool migration and the xDAI automatic migration will be released later today(8th July).

Yield Farming on Xion Finance

Yield farming on xDAI and BSC is now available on Xion.Finance. You can simply add XGT-BNB and/or XGT-xDAI liquidity to start generating 150% APY. An additional 50% boost is applied to early liquidity providers that join within the first 48 hours since listing(July 7th, 4pm UTC). 50% APY boost lasts for 7 days.

Claimable XGT rewards will only be available near the end of today(July 8th), we are working tirelessly to get this released for both xDAI-BSC, in order for you to claim in 1 tx on the xDAI chain.

In the meantime you can farm away to generate big APY yields, it just won’t be claimable yet.

Please note: you will have to clear your cache to see the latest updates.

Conclusion

We are overwhelmed with the immense support received from our community and investors. The sale was a huge success and now we are working hard to get out all remaining V2 features on Xion.Finance, including our upcoming payment gateway. More updates on the gateway will be made available soon and the community will be updated as we release the V2 features.

About Xion

We are the next generation of payment portals. Bringing cross chain decentralised payments, loyalty and financial rewards to a global commerce industry. Think ‘Stripe’ for web3

This coupled with our all-star team with 30+ years of marketing experience, positions Xion to disrupt the payment system industry and become a true leader in the space.

Now backed by some of the most renowned ventures in the industry: Twin Apex, CVVC, Lupa X Capital, SkyVision Capital, DarkPool Liquidity, Metrix Capital and more!

“Cryptocurrency needs a real-world use case to gain mass adoption and our e-commerce solution is a natural fit for this purpose” — Xion Finance

One Click to DeFi & Commerce