On July 24, 2024, AgriDex, the first real-world asset trading platform based on Solana's blockchain, successfully executed its inaugural transaction, heralding a new era in agricultural trade.
By enabling rapid, low-cost transactions and incorporating fraud prevention and ESG transparency, AgriDex is set to revolutionize the industry.
With plans to distribute and list their unique token "AGRI" and an innovative strategy to enhance token value, AgriDex is positioning itself as a key player in the digital transformation of agriculture.
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First Transaction on Solana
On July 24, 2024, AgriDex, a real-world asset (RWA) trading platform based on the Solana (SOL) blockchain, announced the execution of its first transaction, marking a significant milestone.
In this transaction, over 200 bottles of olive oil and wine were transported from South Africa to London. AgriDex managed the payment for the transaction, earning a fee of 0.15% from both parties.
Adrian Vanderspuy, owner and CEO of the winery "Oldenburg Vineyards," stated that using a public blockchain for transactions reduces transfer time and costs.
We conducted our first transaction using a public blockchain. The payment was received in seconds, not days. The fee was 5 pounds. Such transactions not only shorten transfer times but also reduce transaction and transfer costs.
What is AgriDex?
AgriDex is a new marketplace for trading digital assets related to agriculture. The platform aims to facilitate easy buying and selling of agricultural assets by farmers and investors.
The system is expected to make agricultural transactions clearer and smoother.
Key features of AgriDex include:
- Low-cost transactions: Global payments with fees below 0.5%.
- Instant settlement: Transactions completed in about 5 seconds.
- Fraud prevention: Automatic verification of documents and data enhances transparency and reliability across the supply chain.
- Environmental, Social, and Governance (ESG): Storing ESG data on the blockchain makes it easily accessible to consumers.
- Governance and compliance: Compliant with the EU's 2023 sustainable finance disclosure requirements.
Plans for the Distribution and Listing of the Unique Token "AGRI"
AgriDex has announced new plans for its unique token. According to the official website, the token is set to be airdropped in the near future.
Additionally, AgriDex's CEO revealed more details in an interview with the cryptocurrency media outlet "The Block." Reports indicate that the token, named "AGRI," is scheduled to be listed on several major cryptocurrency exchanges in September of this year.
A noteworthy aspect is AgriDex's new economic strategy. According to the official website, half of the profits will be used to buy back AGRI tokens from the market and burn them.
This initiative aims to reduce the circulating supply of AGRI tokens, thereby increasing their scarcity. As a result, the value and price of the tokens are expected to rise.
This attempt to link the platform's growth with the profits of token holders could result in AgriDex's performance improvements directly contributing to an increase in the token's value.
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