XT, the world’s first socially infused trading platform, has announced the listing of MOOLA (Degen Forest) on its platform. The MOOLA/USDT trading pair became available from 14:00 on June 24, 2024 (UTC) in the Innovation Zone, which focuses on Layer 2 and DeFi technologies.
MOOLA is an ERC-20 token deployed on the Ethereum layer-1 blockchain with a total supply of approximately 600 million tokens. This utility token is essential to the Degen Forest ecosystem, facilitating various transactions and incentives. MOOLA tokens are designed to enhance yield generation and offer exclusive benefits to holders, making it a vital component of the platform.
One of the standout features of the MOOLA token is its ability to reward beta testers of Degen Forest’s innovative technologies. Each transaction within the 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 the platform. Furthermore, MOOLA tokens provide substantial discounts on purchases, including the Degen Vault hardware wallet and a wide range of merchandise available in the store.
To increase the value of MOOLA tokens, Degen Forest employs a strategic token burning mechanism. A portion of the monthly profits is used to buy back and burn MOOLA tokens, 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 the community members but also ensures that the token remains a valuable asset in the cryptocurrency market.
Albin Warin, the CEO of XT, expressed his enthusiasm 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," said Warin.
Degen Forest is at the forefront of the Web3 revolution, committed to making decentralized technologies accessible and beneficial for everyone. The project aims to bridge the gap between complex decentralized technologies and everyday users, fostering a community equipped to thrive in the decentralized world. The Degen Wallet serves as a comprehensive crypto solution, integrating various functionalities from DeFi to NFTs, and offers a streamlined experience for managing crypto assets and activities in one place.
As part of its continuous innovation, Degen Forest is preparing to launch the Degen Explore feature. This new addition will leverage MOOLA tokens to enable projects to secure prominent visibility within the app's exploration interface, providing an enhanced platform for discovering new and exciting projects. The Degen Explore feature is one of many ways Degen Forest aims to keep its community 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.
