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.
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