DEFIT — Leading M2E Project on Polygon

3 min readMar 20, 2023

Dear DEFIT Community,

Back in September 2021, we came to realise that the ethereum blockchain was not suitable for what we were trying to achieve: creating a utility token to gamify the sports and prove that physical activity has tangible value.

We therefore decided to migrate part of our supply to Polygon, a L2 solution that offered all benefits we were looking for and seemed very well positioned to become a leader in blockchain mass adoption.
We weren’t wrong…

We did burn 11.5M $DEFIT tokens on ethereum on September 27th-28th, 2021: Tx1 here ; Tx2 here

And deployed in the meantime on polygon minting the same amount of tokens so our total supply of 50M remain unchanged: Tx here

Lot of developments have occured since and we achieved major milestones with our mobile application launch surpassing 11K registered users and 2.2K weekly active users. Last month we polled our community to find out on which chain you’re currently holding DEFIT:

Community poll on February 8th, 2023. Link here

With our in-app utilities powered by Polygon network we are experiencing a significant growth of our total holders on Polygon while holders on ethereum been constantly decreasing in the last 18 months.

This led us to considerate a full migration of the DEFIT token to Polygon. A second community poll was organised on March 16th and the the large majority (87%) voted in favour to the migration.

Community poll on March 13th, 2023. Link here

As a result, the migration was confirmed and the process begun.

April 7th, 2021, our team added the following liquidity from our own treasury on Uniswap while listing DEFIT at 0.07$ (Tx available here):
127 WETH
3.125M DEFIT

March 14th, 2023, our team removed the remaining liquidity on Uniswap at 0.06$ (Tx available here):
109 WETH (-18 WETH from initial listing)
3.446M DEFIT (+321K from initial listing)

All DEFIT holders on ethereum are invited to use our bridge solution available here to transfer their DEFIT tokens to the Polygon chain.

Since the first of March, over 2.6M DEFIT Tokens have already been bridged to Polygon (see table below or on chain data here).

On-chain data extraction of the bridge withdrawals on Polygon last 3 days.

Our team is continually monitoring the bridge liquidity to ensure a progressive and smooth migration of all holders until May 7th 2023.

We thank you all for your support and are beyond excited for scaling up DEFIT in 2023, a leading Move2Earn project #onPolygon.

DEFIT — Leading M2E Project on Polygon

Written by DEFIT | Digital Fitness