Dexioprotocol: Now Live on Polygon

Dexioprotocol
8 min readSep 9, 2022

Edit: DEXI has since migrated to Ethereum and rebranded as DEXIO. This article has been updated to describe that decision.

In June of 2022 we made an important decision to get off the BSC, radically reduce the supply, and merge two tokens together; DEXI v1 and DXG. The reasons for this were many but the major points were as follows:

  • We believed (and it turned out to be true) that Binance and the BSC were going to have serious issues with regulatory agencies in the West.
  • The BSC was full of garbage tokens and endless rugpulls/ponzis/scams and we did not want to be associated with that.
  • Inflated supplies with micro value tokens was a memecoin/shitcoin thing and we wanted to distance ourselves from that.
  • Having an in-game cryptocurrency separated from the main token no longer aligned with our long term vision of a sustainable model.
  • We had a huge opportunity to take advantage of grants and other programs Polygon had available.

We began the process of migrating people in July of 2022 through an internal process that allowed people to migrate early. We made the jump to Polygon in September of 2022. We left a migration swap open for people to use for 10 months after that (all the way up to July of 2023.) The reason we closed it is quite simple; We CAN NOT end trading of the BSC tokens on PancakeSwap. We have no way to do that. We faced extreme arbitrage issues from those pools to our new pool.

When we made the decision in July of 2023 to migrate to ETH (which is a whole different set of reasons which have been explained ad nauseam) we decided to end the migration of BSC tokens to Polygon. We did fund some liquidity on BSC so that people could swap their old BSC tokens for BNB and at least get something out of that. But we could not allow the migration to continue. It would have presented an endless problem of arbitrage that could seriously damage the new token.

The fact of the matter is that the old BSC project with DEXI v1 and DXG was completely re-envisioned in 4 major steps:

  • We merged DEXI v1 with DXG and migrated to Polygon.
  • We migrated from Polygon to ETH.
  • We scrapped everything we were doing other than DexiHunter and completely reimagined that and built GeoQuestAR.
  • (ongoing) We will wrap $DEXIO currently on ETH on another chain (Likely $AVAX though that has not been fully decided yet).

All of this is a testament to our commitment to the project and our community. We have communicated endlessly about all of this and given people many opportunities throughout this process to take advantage of many different opportunities. People who literally paid ZERO attention to their holdings all throughout the bear market who are now looking for answers as to what happened are entitled to those answers… I just gave them. But not paying any attention to a microcap holding you have that is in a new and ever-changing industry is obviously not very prudent. We have acted with integrity and transparency and have communicated endlessly on every platform we possibly could. If you are still holding DEXI v1 or DXG you can swap those for BNB on PancakeSwap and either grab a bag of $DEXIO on ETH or do whatever else you like with the BNB you get in that swap. But that is all that can be done with it. We are sorry that you are likely at a loss on that trade but we can not be responsible for what anyone does with their bags. All we can do is continue to build the best crypto gaming project in the space and communicate consistently and with transparency with our community.

Original story below:

We are proud to announce that we have migrated our DEXI V1 and DXG tokens off of the Binance Smart Chain network and onto the Polygon Network. The achievement is the culmination of many months of contract development and audits, making new contacts and partners in the DeFi space, upgrading and combining our NFT marketplaces, and finishing up development on DexiHunter and DexiDragons for their public debuts. Many thanks to our great community for their continued support while we move to the next phase of Dexioprotocol.

Read on for more answers to many FAQs we’re receiving currently and don’t forget to share this article with your social media friends!

Where does DEXI V2 exist now?

Dexi V2 was been deployed on Polygon Chain on September 6, 2022 and live trading on Elk Finance began on September 9, 2022. Later in September, Elk Finance will also support staking/farming services on their platform. We look forward to Elk Finance to be a great partner as we continue to expand across chains. Their swap already supports 18 chains, including Cronos, Avax, Fantom, and others that we are actively looking at. Having a single partner to point our community to for swapping and bridging services for the DEXI token is a tremendous advantage as we grow. You can read our listing announcment on the Elk Finance Medium here.

The V2 token will also be available on LBank and MEXC in a few weeks. A snapshot will be taken of holdings and will be swapped at a ratio of 50,000 DEXI V1 for each DEXI V2 and 133,333 DXG for each DEXI V2. If you still hold your tokens on Digifinex, it is recommend you move them to a non-custodial wallet and migrate them.

I didn’t participate in any of the early migration opportunities. How do I migrate?

Once price tracking is live on CoinGecko, a migration swap site will be made available. At the time of live migration, the tokens can be migrated to DEXI V2 on a price-based ratio: if you own $100 of DEXI, you will have $100 of DEXI V2. Based on the market movements and the obvious arbitrage opportunities becoming much larger, the migration ratio was set to a price-based ratio. This move prevents arbitrageurs from purchasing large stakes in DEXI V1 or DXG that have otherwise not been a part of the project, and then dumping those tokens on V2 at the time of live migration, thereby hurting the V2 project.

What happens to V1 and DXG.

At the time of this writing, we are still working through the remaining applicants for the early migration process and expect to have those done by September 16 for a final airdrop. More than 90% of the V1 token and 75% of DXG is out of circulation at this point. When holders migrated their remaining balances to Polygon, they’re old tokens will be burned and new Polygon tokens will be issued.

DEXI V1 and DXG have merged into a single token on Polygon, taking all of the utility off of the BSC and onto Polygon. If you’ve purchased DEXI NFTs on the BSC, you can choose to migrate those to Polygon when the new DexiNFTEmporium re-launches next week.

Are we still launching on Cronos? What about other EVM chains?

Absolutely! There may be some lingering questions about our previous announcement and plans to launch on Cronos, so let’s clear that up.

We signed a Memorandum of Understanding (MOU) to bring our GameFi ecosystem to Cronos in June and planned to launch there first before going to Polygon. Many may not know that we signed a similar agreement with Polygon in June as well. It was also planned to launch on Polygon, but we did need to change the order to ensure our gamers had a great experience with our games after launch. Remember, we’re a gaming company that utilizes blockchain technology. The games come first.

After we wrap up some post-launch activities on Polygon, we’ll review other EVM chains (like Cronos, Avalanche, Fantom, etc) and evaluate the best strategy to complete our multi-chain vision.

Wen DexiHunter?

Wen indeed. If you haven’t been keeping up on our social media, you’re really missing out on some news. The DexiHunter global release is set for September 19, 2022. The application is in review with the app stores now, making sure all the little bells and whistles comply with their guidelines. DexiHunter was the catalyst behind starting this gaming project and we are beyond thrilled to finally bring this application to the world.

Initial Distribution of Dexioprotocol V2

Total Supply: 50 million DEXI V2

Supply & Development Wallet, 35% : These wallets will fund the supply needs of the V1 holders that did not early migrate, future token listings and market making accounts, NFT token purchases for DexiHunter, and all other project needs.

Early Migration, 34% : V1 and DXG holders on the BSC were offered to “early migrate” their tokens prior to the official launch on Polygon. These tokens were burned and they reserved a token allocation on V2.

Founders, 20% : CEO and COO each hold 5 million DEXI, or 10% of the current total supply each.

Private Sale, 7% : DEXI V1 and DXG holders were offered a private sale before the public sale opened. Private sale price was $0.05 per DEXI.

Public Sale, 3% : A public sale of DEXI V2 was facilitated on Scrub.Money and on our public Telegram. Public sale price averaged about $0.0625 per DEXI. Special bonuses were offered to purchases over certain thresholds.

Liquidity, 1% : The liquidity pool on Elk.Finance was established with $USDC and $ELK pairing. At launch, there is a 20% tax on all sales and a 1% tax on all buys. The tax directly funds the LP. Over time the tax on sales will be adjusted down to a reasonable level.

Anything Else?

So much more! But let’s keep it brief and the major items:

  1. DexiDragons and DexiCarnival are both in internal beta now! The team is having a great time battling our Dragons against each other, building our home zones, or playing Skee-Ball in Carnival. We expect DexiDragons to open up for public beta after the DexiHunter launch.
  2. The DexiMarketplace and DXG GameEmporium are being merged into a beautiful new platform, the DexiNFTEmporium. There you will find two shops within, the DexiCreatorHub (for artists and NFT enthusiasts) and the DexiGameVault (for all your gaming asset needs). The new Emporium provides an easy place for you to manage all your DEXI NFTs under a single log-in and provides a better experience to search/filter for the NFTs you need. The shop opens up on September 12th and instructions will be provided on-site to migrate your old NFTs.

We are very excited to have completed this Polygon launch and happy to have you all along for the ride. Don’t forget to grab an NFT weapon and head to the PVP arena in DexiKnights while we anxiously wait for Hunter!

About Dexioprotocol

Our vision is a world in which blockchain technology is mainstream and vastly more people are connected by it. Our mission is to deploy products that foster blockchain and crypto adoption, ensure utility for our native token, and cultivate sustainable revenue streams for our business. We are guided by the principles of authenticity, integrity, and transparency. Everything we do is measured against that mission and those principles.

We are advancing this ambition by creating a suite of gaming applications that allow our users to play our games with or without a digital wallet. By providing people with incredibly fun and interactive games, we can introduce digital assets and other applications within our ecosystem that allow our users to step comfortably into blockchain technology. In addition to that, we are creating sustainable and long-term revenue streams that support the business of Dexioprotocol as well as fund investment in the development of our blockchain based ecosystem.

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Dexioprotocol

A gaming, augmented reality, and technology company creating a platform for innovation and advertising, on and off the blockchain. https://dexioprotocol.com