Dexlab Takes a Bold Step Forward: Expanding to XPLA Ecosystem for Future Growth
Good days, Dexlab community
After the FTX’s collapse issue, the Solana network and many Solana-based projects had a financially rough time together. The last few months were a challenge as if for not only for the Solana-based projects but also for Dexlab. Even though the #MagicEden, the most prominent #NFT marketplace of the Solana ecosystem, started to provide multi-chains. However, Dexlab struggled to HODL the business to keep going on under these circumstances. In January, Dexlab opened #OpenbookDEX and integrated #Jupiter limit-order trading, to complement the user’s trading experience. In March, Dexlab successfully ended the #Honeyland IDO sale with the community. The result boiled down to : Soldout.
Yes, this Medium article is served to officially announce the milestone of Dexlab’s future path, that Dexlab will aim toward a multi-chain system by building up the DEX on the XPLA ecosystem. XPLA XPLA is a Tendermint-based Layer-1 Blockchain. A powerhouse for universal content from gaming to everyday entertainment. With its own significant size game infrastructure, XPLA provides a sublime creative experience for all. Also, Dexlab became an initial validator of the XPLA ecosystem in February, cementing a long and solid partnership. Please note that opening SuperDEX on the XPLA chain is part of Dexlab’s multi-chain system, with Dexlab’s ongoing development on the Solana chain. Therefore, this article will cover Dexlab’s future roadmap and the development plan of the SuperDEX. As part of this plan, Dexlab intends to introduce a new token within the XPLA ecosystem that will provide added benefits to current $DXL token holders. So please read the full article below here to get a benefits community!
As part of its multichain expansion goal, Dexlab, a decentralized exchange (DEX) based on the Solana blockchain, will take its first step by constructing SuperDEX as a multichain DEX. SuperDEX is a game-focused Orderbook DEX platform that is closely tied to the game-focused wallet service being developed by Dexlab. The company has identified XPLA, a well-established game-specific blockchain, as a key milestone in its plans for growth. By leveraging XPLA, Dexlab intends to expand its reach across various networks and specialize in the gaming and non-fungible token (hereinafter referred as to NFT) markets by connecting with additional chains. In accordance with the development schedule, the products currently deployed on the Dexlab platform, including the DEX, Mintinglab, SWAP/Pool, and IDO launchpad, will be gradually integrated into SuperDEX. The details of the development schedule are summarized in VII. The airdropped new token will serve as the governance token for SuperDEX. Prior to the initial distribution, Dexlab will keep confidential any information regarding the new token, including its ticker symbol and contract address. We will not reveal the distribution schedule of the new token.
Although there will be an airdrop of the new token issued on the XPLA ecosystem, the existing $DXL tokens will continue to be tradeable on the Dexlab OpenBook DEX. Currently, the functionality of the $DXL token is limited. However, Dexlab will commit to enhancing the utility and the trading location of the token by exploring various use cases and integrating it into its offerings, such as the staking service and Mintinglab. This will not only broaden the scope of the token’s utility but also increase its value proposition to the holders. Even after the launch of SuperDEX, Dexlab will continue to operate. The Openbook DEX, IDO launchpad, and the SPL token minting service Mintinglab will maintain their legacies. Furthermore, Dexlab has been working on developing a DEX liquidity pool since last year, and we are proud to announce that it is currently in progress. We plan to broaden its functionality by integrating it with Mintinglab in the future. This Pool service will allow Mintinglab users to create their own token pool and manage it independently. Additionally, Dexlab will surely build the project continuously on the Solana blockchain as the underlying technology for our project. We believe that the speed and low transaction fees of Solana will eventually lead to an optimal user experience that cannot be interrupted, even during times of high demand.
New Token Issuance Plan
A new token will be distributed to $DXL token holders through an airdrop, offering them a complimentary allocation. This plan does not include specific information about the new token, including its ticker name and contract address. Also, do note that no specified information about the vesting period or Token Generation Event date (hereinafter referred to as TGE) is written yet here either. The distribution will be subject to a vesting schedule, and thus, the airdrop token will remain locked until the schedule is released. It is important to note that the distribution ratio of the new token airdrop will not be a 1:1 correlation with the number of $DXL tokens held. The allocation of the new token airdrop will be determined based on a carefully calculated ratio.
The brief schedule of the airdrop will be as follows:
- Initial form submission (April): Those who want to get an airdrop of the new token, need to submit the form.
- Snapshot (June 1st): A snapshot of the $DXL token holders’ wallet will be taken. Users need to transfer $DXL from other networks to the Solana wallet to participate.
- XPLA wallet creation (June — July): Dexlab provides an XPLA wallet creation page on their website, with a tutorial on the gitbook page.
- Second form submission (July — August): Users who want to receive the airdrop need to submit their XPLA wallet address on a form.
- Airdrop: After the TGE, the new token will be automatically transferred to the submitted XPLA wallet.
Next Steps and Preparation for the New Token
To sum it up, please note the following future schedule
- The above plans’ dates are not specified yet, which will be disclosed later in a Medium article. The article will include the snapshot, XPLA wallet creation, and submitting forms dates with details.
- The Twitter announcement will be made 2 weeks before the initial form submission dates. It is crucial to note that failure to submit this form in advance will result in exclusion from the airdrop event and snapshot. Additionally, it is recommended to transfer all $DXL tokens into a single wallet and submit only one wallet address.
- The Twitter announcement will be made 3 days before the snapshot.
- The Twitter announcement will be made 3 days before starting the XPLA wallet creation on the Dexlab website.
- The Twitter announcement will be made 3 days before the second form submission starts.
To participate in the snapshot, make sure to gather all your $DXL tokens from other chain wallets into one Solana wallet. This way, all token counts will be recognized during the process.
Please stay tuned to the Dexlab Twitter, Telegram, and Discord announcements for official updates. Do not contact anyone who DMs you first by impersonating Dexlab’s name because we do not DM first. We will not be answering questions about what is described in this medium article, and we will be putting a timeout on the community chat for the time being to prevent confusion. As mentioned above, the new token’s name, token address, or vesting schedules are not disclosed anywhere and those will not be opened to the public before we give an official announcement. Always keep your head up to the announcement we made on official SNS channels!