As we continue our journey with Pegaxy, we are excited to share some important updates that reflect our commitment to improving the game and ensuring its long-term success. The recent conclusion of the VIS Bridging Campaign from Polygon to the Mirai Chain marks a pivotal moment in our evolution. This strategic move is not only a technical upgrade but a forward-thinking decision that strengthens the foundation of Pegaxy's future.
It's important for all holders to know that any remaining VIS on Polygon contracts is now considered burned, as it no longer holds utility and cannot be migrated to the Mirai Chain. This action fully consolidates the VIS token within the Mirai Chain ecosystem, bolstering security and optimizing performance for all users.
First VIS Burn and Bridging Campaign
With the closure of the bridging window, we have taken comprehensive steps to consolidate VIS within the Mirai Chain ecosystem. A key part of this process involved our first burn, where over 2.1 billion VIS tokens were removed from circulation, significantly reducing the supply and reinforcing the value of VIS. You can view the burn transaction here.
In total, 362,907,16 VIS was successfully bridged to the Mirai Chain from July 30th to August 30th.
Second Burn and Liquidity Migration to Mirai Chain
As part of the previous four swapping campaigns, 35,322,255 VIS Claimable has been migrated to V2. These tokens were farmed before minting was stopped. To support the withdrawal process for these claimable VIS, we have collected around 40 million VIS on V2 from this pool contract. This VIS comes from a portion of the VIS spent by users in-game, which was transferred to the contract. Instead of minting new tokens, we will use these collected VIS to facilitate the claims.
We have also completed the migration of our VIS liquidity to the Mirai Chain. Since we could no longer bridge VIS directly from Polygon, we swapped our remaining VIS liquidity to USDT. This involved depositing a total of $8,114.59 USDT ($4,901.16 from the removed Liquidity Pool and $3,213.43 from the VIS swap) to the Mirai Chain (view transaction here).
We then swapped the $8,114.59 USDT back to VIS on the Mirai Chain (view transaction here) and proceeded with a second burn of 49,235,348.99 VIS to further reduce the circulating supply. You can view the burn transaction here.
Final VIS Burn on Polygon
Additionally, the remaining VIS on the V1 Polygon network, collected as deposits from on-chain to in-game, has also been dealt with. This culminated in the final burn, effectively removing any remaining tokens on the Polygon network. The deposit can be viewed here and the final burn transaction here.
Remaining Liquidity on Polygon
There are currently remaining VIS liquidity pools from individual holders on Polygon (view holder details). This is why some of you are still able to swap VIS to other tokens on Polygon. We encourage these holders to consider removing their liquidity.
For those looking to check the current price of VIS on the Mirai Chain, you can do so via GrootSwap and Mirai App, our designated swapping platform. As of now, the total circulating supply of VIS on the Mirai Chain you can verify on Mirai Scan.
Looking Ahead
This strategic move to the Mirai Chain marks a significant milestone in our journey to build a more seamless, efficient, and secure ecosystem for VIS. We appreciate your support and patience throughout this transition and look forward to continuing our growth together.
— Pegaxy Team