XT Exchange Lists MOOLA Token, Enhancing DeFi and Layer 2 Trading

XT, the world’s first socially infused trading platform, has announced the listing of the MOOLA (Degen Forest) token in its Innovation Zone, specifically focusing on Layer 2 and DeFi trading. The MOOLA/USDT trading pair became available on June 24, 2024, at 14:00 UTC.

MOOLA is an ERC-20 token deployed on the Ethereum layer-1 blockchain with a total supply of approximately 600 million tokens. The token serves as a dynamic and versatile utility token within the Degen Forest ecosystem, playing a crucial role in facilitating transactions and offering incentives. MOOLA aims to enhance yield generation and provide exclusive benefits to its holders, making it an essential part of the platform.

A notable feature of the MOOLA token is its ability to reward beta testers of Degen Forest’s technologies. Each transaction within the ecosystem earns beta testers MOOLA tokens, thereby incentivizing active participation and engagement. This reward system not only boosts user activity but also contributes to the growth and robustness of the platform. Additionally, MOOLA tokens offer significant discounts on various purchases, including the Degen Vault hardware wallet and an extensive range of merchandise.

Degen Forest also employs a strategic token-burning mechanism to enhance the value of MOOLA tokens. A portion of the platform’s monthly profits is used to buy back and burn MOOLA tokens, effectively reducing their total circulation. This scarcity, combined with steady or increasing demand, has the potential to increase the value of MOOLA tokens, rewarding dedicated community members and ensuring the token remains a valuable asset in the cryptocurrency market.

Albin Warin, CEO of XT, expressed his enthusiasm for the listing, stating, "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."

Degen Forest is a project at the forefront of the Web3 revolution, dedicated to providing cutting-edge infrastructure and services that make decentralized technologies accessible and beneficial for everyone. The project aims to bridge the gap between complex decentralized technologies and everyday users, fostering a community well-equipped to thrive in the decentralized world. Degen Forest also emphasizes education and empowerment, helping its community fully leverage the opportunities presented by the decentralized web.

The Degen Wallet is a comprehensive crypto solution that integrates a wide range of functionalities from DeFi to NFTs, serving as an all-in-one hub for various crypto activities. Whether 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.

In addition, Degen Forest is preparing to launch the Degen Explore feature, which will leverage MOOLA tokens to enable projects to secure prominent visibility within the app's exploration interface. This feature aims to provide an enhanced platform for discovering new and exciting projects, ensuring the community remains at the cutting edge of the decentralized web.

XT, founded in 2018, serves over 6 million registered users and more than 500,000 monthly active users. The platform offers a wide variety of trading categories, including crypto futures trading and copy trading, to provide a secure and intuitive trading experience. The listing of MOOLA on XT is expected to bring substantial value to both the platform and the wider cryptocurrency market.