Xion Finance offers a platform that enables users to invest in initial decentralized exchange offerings (IDOs) on a subscription basis. As of August 2022, the platform offered four monthly plans, through which investors' allocations are automatically split into metaverse and gaming IDOs every month. Xion Finance also acts as a staking and multi-chain launchpad protocol, which leverages multi-chain bridging solutions to enable users to perform token swaps and farm yield from staking.
The protocol offers the native token “XGT” that can be used for staking, payments, and rewards within Xion Finance and Xion Global— the company’s blockchain payments gateway subsidiary. The company also planned to launch V2 of its platform, which will include a 1:1 swap solution, enabling users to perform zero-slippage transfers.
Funding and financials
In August 2022, Xion Finance secured an investment commitment of USD 50 million from GEM Digital Ltd. The company earmarked the funds to accelerate product development, expand its infrastructure across multiple blockchains, and invest in marketing activities.
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