Xion Global has created an e-commerce and DeFi ecosystem by combining 3 decentralized applications. The cross-chain token called XGT, can be used for yield farming, processing e-commerce payments, minting rewards and simple value transfers. The maximum supply is set at 3 billion tokens.
Xion Global features:
- Decentralized e-commerce platform for merchants and customers
- Decentralized hosted checkout for e-commerce purchases, discounts and cashback
- Xion Finance DeFi application for yield farming, earning interest and rewards
- Cross-chain network to offload cost-intensive transactions
In order to fund the development, the Xion Global project raised $300,000 from angel investments/VCs(CV Labs) and an additional bootstrapped amount of $250,000 from the Xion Global founders.
Xion Global aims to “help entrepreneurs become financially independent” by empowering them with an easily accessible, scalable and cost-effective ecosystem for e-commerce payments, rewards and financial incentives.
Various cross-chain mechanics have been developed between the Ethereum mainnet and xDAI chain, to benefit XGT owners with low-cost swaps, attractive liquidity mining, purchasing power and soon rights towards proposed changes to the software.
The process for using XGT for payments is a lot more effective and user-friendly compared to traditional token transactions, as functions like the token allowance have been streamlined in the process.