SINGAPORE, August 10, 2022 — Xion Global, Web3 crypto payments gateway, and Xion Finance, DeFi protocol and DEX aggregator, are moving from Gnosis Chain to the Polygon PoS chain. Polygon’s full-stack Ethereum scaling solution will help champion and expand Xion’s multi-chain crypto payments and DeFi protocol roadmap.
Polygon’s decentralized Ethereum scaling platform enables developers to build user-friendly scalable dApps with low transaction fees and uncompromised security.
The launch of this DeFi alliance on Polygon will facilitate further liquidity provision, developer optimization, payments migration, and partnership expansion for Xion Global’s crypto payment solutions and the Xion Finance DeFi protocol. Pioneering their solutions on a more scalable, liquid and highly reputable chain.
With the immense growth of Xion Global’s crypto payment gateway the Xion ecosystem requires support from more leading evm-based chains to deliver and market the intended use cases across a multitude of industries including but not limited to; metaverses, casinos, gaming and ecommerce with annual crypto transaction history that reaches $4 billion plus.
Polygon’s PoS chain provides a new crypto payments settlement layer that can support high volumes of stablecoin exit liquidity for multi-chain checkout payment methods, cross-chain decentralized rebalancing and multi-party merchant payouts. Multi-chain payments expansion and optimization of multiple chains will instantly settle in USDC (Polygon) amounting to approximately $10M USD in daily transaction volume on the Polygon PoS chain.
“We are honored to integrate with Polygon. Our collaborative work has been very promising since its inception. We look forward to bringing more adoption to the Polygon network and continuing to help advance and accelerate the crypto Payments and DeFi industry,” says Founder and CEO Ronan Quarmby at Xion.
Hamzah Khan, Head of DeFi and Labs at Polygon, also states, “Xion Global and Xion Finance’s DeFi suite and payment solutions will reach their full potential on Polygon — benefiting from robust security, and low-latency, sub-cent transactions. We’re delighted to welcome the team to Polygon and expect to see Xion continue to thrive in the months ahead.”
Further discussions are currently being led by Polygon with leading multi-chain bridging solutions to expand the number of crypto payment methods offered within the Xion Global checkout and exit liquidity for USDC stablecoin payouts to merchants on the Polygon PoS chain.
Additionally, with the recent $50M dollar investment from GEM for Xion Finance’s DeFi protocol. Xion Finance will maximize the benefit of zero-slippage multi-chain swap solutions utilizing industry leading DEXs and DeFi protocols (Multichain, Elk Finance, Quickswap, Pancakeswap, Uniswap, Sushiswap and Balancer) to expand the utility of XGT in the world of DeFi with Polygon.
Unique capabilities added to the Xion ecosystem with Polygon will include increasing the utility of XGT and MATIC throughout Xion Global and Xion Finance by adding MATIC as a primary payment method amongst XGT.
Other utilities include:
- Liquidity & Staking Pool for XGT/MATIC, allowing for joint token pairs.
- Growth of Xion’s Loyalty Program where holders and stakers can receive recurring discounts off specific subscriptions within the Xion crypto payments environment.
- Cashback in MATIC & XGT for specific payment methods.
- Creating Limited Polygon x Xion NFT Astronauts to earn passive income from Xion crypto payment txs (e.g. more income on MATIC & XGT payments)
In partnership with Elk Finance and assistance from Polygon, Xion will release a decentralized crypto payments settlement layer on the Polygon PoS chain. Offering third party liquidity providers incentives to rebalance the USDC liquidity pool for merchant payouts. More information will be released as that solution becomes available.
Integrations of Xion Global’s crypto payment gateway and Xion Finance’s DeFi protocol for multi-chain staking/launchpad opportunities will be provided to select clients within Polygon’s business network.
Xion is currently migrating all of their subscription, XGT reward chests, cashback modules and other smart contracts onto the Polygon PoS chain in preparation for client integrations and XGT utility expansion.