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$AGRI is Now Live; AgriDex Says Token Launch Advances its Goal to Revolutionize Agriculture Trade

3 December 2024
in Blockchain, News
Reading Time: 3 mins read
103 8
Home News Blockchain

AgriDex, a Solana-based project tokenizing agricultural commodities, has launched its highly anticipated native token, $AGRI. The token, priced at $0.065 per token, is now available on major exchanges, including Gate.io, MEXC Global, CUBE, and VALR, marking a significant milestone for the platform.

According to a press release by the project’s team, $AGRI has a total supply of 1 billion tokens and is central to AgriDex’s ecosystem. It provides governance rights that could be exercised via a decentralized autonomous organization (DAO). In addition to serving as a primary token for trading fee payments, liquidity rewards, and participation incentives, $AGRI would also be used to support environmental and social projects through future staking rewards.

AgriDex’s co-founder and CEO, Henry Duckworth, highlighted the token’s importance:

“The launch of $AGRI marks a key step in our goal to democratize global agricultural trade, ensuring fair prices, secure transactions, and sustainability-driven rewards for farmers and traders alike.”

AgriDex was launched earlier in 2024 to transform the agricultural industry by digitizing trade through blockchain technology. The platform enables users to trade a variety of crops, with each transaction secured and verified by a non-fungible token (NFT). These NFTs capture key transaction details to ensure transparency and build trust in the trading process.

In July 2024, AgriDex successfully settled its first agricultural trade on Solana and has since onboarded numerous producers and suppliers. The platform allows users to trade various crops, providing a secure and transparent marketplace for global agricultural transactions.

The project is backed by notable partners such as the Solana Foundation, Circle, and Bridge, alongside collaborators like Imperial Shipping Group, Parrogate, and Solar Energy Projects. In May 2024, it raised $5 million in pre-funding to advance its goals. The round was led by Endeavour Ventures, with support from Sub-Saharan African Crops and Oldenburg Vineyards.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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