SINGAPORE, June 26, 2024 (GLOBE NEWSWIRE) -- XT, the world’s first socially infused trading platform, is thrilled to announce the listing of MOOLA (Degen Forest) on its platform in the Innovation Zone (Layer 2 & DeFi) and the MOOLA/USDT trading pair started from 14:00 on 2024-6-24 (UTC).
About MOOLA
MOOLA is an erc-20 token deployed on the Ethereum layer-1 blockchain with an approximate total supply of 600 million tokens. It is a dynamic and versatile utility token that plays a pivotal role within the Degen Forest ecosystem. Designed to facilitate a wide array of transactions and incentives, MOOLA tokens are integral to the seamless operation and rewarding experience of our users. As a utility token, MOOLA not only enhances yield generation but also provides exclusive benefits to its holders, making it an essential component of our platform.
One of the key features of the MOOLA token is its ability to reward beta testers of our innovative technologies. Each transaction made within the Degen Forest ecosystem earns beta testers MOOLA tokens, incentivizing active participation and engagement. This rewards system not only boosts user activity but also contributes to the overall growth and robustness of our platform. MOOLA tokens also offer substantial discounts on various purchases, including our state-of-the-art Degen Vault hardware wallet and an extensive range of merchandise available in our store.
To further enhance the value of MOOLA tokens, Degen Forest implements a strategic token burning mechanism. A portion of our monthly profits is used to buy back and burn MOOLA tokens, effectively reducing their total circulation. This intentional scarcity, combined with steady or increasing demand, has the potential to drive up the value of MOOLA tokens. This approach not only rewards our dedicated community members but also ensures that the token remains a valuable asset within the cryptocurrency market.
Albin Warin, CEO of XT, shared his excitement about the listing of the MOOLA token on the platform. "We are delighted to welcome MOOLA to XT Exchange. MOOLA's unique utilities, from rewarding active beta testers to offering exclusive discounts and facilitating advanced features within the Degen Forest ecosystem, make it a standout token in the cryptocurrency space. We believe MOOLA will provide substantial value to our users and enhance their overall experience on our exchange."
About Degen Forest
Degen Forest stands at the forefront of the Web3 revolution, committed to providing cutting-edge infrastructure and services that make decentralized technologies accessible and beneficial for everyone. Our project aims to bridge the gap between complex decentralized technologies and everyday users, fostering a community that is well-equipped to thrive in the decentralized world. Our dedication extends beyond technology; we are passionate about educating and empowering our community to fully leverage the opportunities presented by the decentralized web.
At the heart of Degen Forest is the Degen Wallet, a comprehensive crypto solution designed to integrate a wide range of functionalities from DeFi to NFTs. The Degen Wallet serves as an all-in-one hub for various crypto activities, eliminating the need for multiple platforms or tools. Whether you are engaged in yield farming, staking, or selling NFTs, the Degen Wallet offers a streamlined and efficient experience, making it easier for users to manage their crypto assets and activities in one place.
As part of our continuous innovation, we are excited about the upcoming launch of the Degen Explore feature. This new addition will leverage MOOLA tokens to enable projects to secure prominent visibility within our app's exploration interface, providing an enhanced platform for discovering new and exciting projects. The Degen Explore feature is just one of the many ways we are working to ensure that our community remains at the cutting edge of the decentralized web. Through these initiatives, Degen Forest is not only advancing technology but also building a vibrant, empowered community ready to lead the way in the Web3 era.
Website: degenforest.com
Telegram: t.me/degenforestdao
X.com: x.com/0xdegenforest
Youtube: youtube.com/@degenforest
Discord: discord.com/invite/ATES8Kcwd8
Opensea: opensea.io/collection/degenforestdao
About XT
Founded in 2018, XT serves more than 6 million registered users, over 500,000+ monthly active users, 40+ million users in the ecosystem, and more than 800 tokens with 1000+ trading pairs. Since then, XT crypto exchange has expanded its offerings by covering a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. One such addition is crypto futures trading which includes USDT-M Futures and coin-M futures perpetual contracts, as well as copy trading that allows users to replicate top traders in real time with just one click. Additionally, the Futures Grid allows users to automate the buying and selling of futures contracts to make profits.
Website: www.xt.com
Twitter: twitter.com/XTexchange
Telegram: t.me/XTsupport_EN
XT Exchange
Bella Wei
Listing@xt.com
Degen Forest
carlos@degenweb3.com
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c2ae536-d51a-44b6-b8b7-681d45d85403
