Cross-chain pockets XDEFI is seeking to elevate $12 million by promoting its new utility token, $XDEFI, on a decentralized change (DEX), a spokesperson instructed CoinDesk.
- The token, which conforms to ERC-20, will probably be used to fund decentralized finance (DeFi) and non-fungible token (NFT) initiatives, XDEFI Pockets mentioned Tuesday.
- The sale, referred to as as an preliminary DEX providing (IDO), will happen in early November on MISO, the platform constructed for providing new tokens on the SushiSwap DeFi protocol.
- XDEFI launched its cross-chain pockets, which allows customers to retailer, ship and obtain all their digital belongings from a single place, earlier this month after raising $6 million in September. The pockets gives entry to chains reminiscent of THORChain and Terra so customers can transfer between protocols simply.
Learn extra: $3M in Ether Stolen From SushiSwap’s MISO Launchpad