Brand Protection - End Business Spends $50,000 on Elixir.xyz

Two weeks ago, the financial trading company Elixir spent $50,000 to acquire the domain name Elixir.xyz (approximately RMB 358,000) to protect its brand. The buyer was Elixir Technologies Ltd. Currently, visiting Elixir.xyz will redirect to Elixir.Finance.

Elixir is a decentralized DPoS network that provides algorithmic market-making across exchanges, offering complete composability for on-chain integration.

The company raised a considerable amount of funds in 2023. According to Crunchbase data, they raised $7.5 million in Series A funding in October 2023. They had previously raised $2.1 million in seed funding in January 2023. There is another undisclosed amount.

Regarding the financing issue, many people may question why Elixir spent $50,000 to purchase .xyz just for redirection without formally using it as the official domain?

Based on the domain, it is evident that Elixir is engaging in brand protection. In the absence of acquiring .com, they first acquired .xyz that was available. This can bring some traffic and prevent malicious parties from exploiting it.

Furthermore, Elixir.com is an established enterprise. The domain was registered in August 1993, making it 31 years old today, with a significant historical background. Therefore, they currently have no chance to upgrade to a .com domain.

.finance is a top-level domain (TLD) and part of the internet domain system, indicating the type or industry of a website. .finance domains are typically associated with the finance and financial sectors, used for websites of financial institutions, investment companies, financial advisors, banks, insurance companies, and related enterprises or organizations.