SSGT Governance Vote: DEFIT Liquidity and Business Expansion

  1. Governance Vote Announcement — Today
  2. Snapshot Taken and Voting Commences — Wednesday, August 18th at 5 pm UTC
  3. Vote Closes — Tuesday, August 24th at 5 pm UTC
  4. Voting Results Announcement — Wednesday, August 25th at 5 pm UTC

DEFIT Expansion Details & Benefits

  1. Cross-chain integration with Matic (Polygon) which will allow DEFIT to start building their in-app wallet within the 360Wellness (parent company of DEFIT) ecosystem on a L2 solution.
  2. Adding QuickSwap as another DEX listing will bring new investors, liquidity options, and visibility to DEFIT.
  3. The tier 1 CEX listing on Gate.io will give an easy way for crypto novices and new users to buy DEFIT and start utilizing it in their own 360Wellness integrated wallet.
  4. Expanded marketing opportunities. DEFIT is in advanced promotional discussions with Gate.io for the exchange to heavily promote DEFIT to their +6 million users from over 150 countries while DEFIT promotes Gate.io in-app as the preferred CEX exchange.
  1. ETH liquidity on SafeSwap will not be changed, only a reduction in DEFIT token liquidity on SafeSwap by 1,250,000 tokens (20% DEFIT reduction of the total 3,125,000 tokens on the exchange today).
  2. Reduction of DEFIT liquidity on Uniswap by 32 ETH and 1,625,000 DEFIT tokens (12.6% ETH reduction and 36% DEFIT token reduction, respectfully).
  3. Listing on QuickSwap and providing 32 ETH (from Uniswap to QuickSwap) for new WETH/DEFIT pair and 1,125,000 DEFIT tokens.
  4. Listing on Gate.io with 1,750,000 DEFIT Tokens for listing, along with a marketing budget worth $85K USD.
  • Inability to list DEFIT on new exchanges until much later in their project roadmap due to current token lockups and vesting schedules
  • Users of DEFIT are likely to incur high ETH gas fees when making small transactions such as those contemplated on the 360 Wellness app, stifling user growth and product adoption
  • Inadequate integration with Polygon as the listing on QuickSwap is intended to drive mass user adoption without the expense of high user fees
  • Missed opportunity to expand the DEFIT vision and user base to a top-10 centralized exchange (as measured by daily trading volume)

Voting Qualifications & Snapshot

  1. SSGT Stakers Snapshot and Voting Start — Wednesday, August 18th at 5 pm UTC
  2. Vote Closes — Tuesday, August 24th at 5 pm UTC
  3. Voting Results Announced — Wednesday, August 25th at 5 pm UTC

What’s Next?

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