Xion Finance(XGT), a DeFi protocol developer based in Tortola, British Virgin Islands, secured a $50 million investment commitment from GEM Digital Limited.
This commitment will accelerate the product development roadmap and mainstream adoption of the Xion Finance app.
Led by Ronan Quarmby, founder of Xion Finance and CEO of Xion Global, Xion Finance is a DEX, staking and multi-chain aggregation protocol. Leveraging multi-chain bridging solutions for zero-slip exchanges, high-yield staking opportunities and investment allocations to top-tier gaming metaverses and IDOs.
With GEM’s recent commitment, Xion Finance will now expand its DeFi infrastructure to multiple blockchain networks to support its planned V2 platform.
Included in the new version of the V2 platform is a 1:1 exchange solution that will allow users to perform zero-slip transfers, eliminating the hidden costs associated with AMMs, facilitating the connection of assets between chains supported by their native XGT token .
XGT, available on CEX’s Lbank exchange with more exchanges, is primarily used as a token of participation, payments, loyalty and rewards in both Xion Finance and the Xion Global Web3 payment gateway, bringing fundamental utility to DeFi and Web3 payments.