Xfinite has listed its native asset, the XET token, on the centralized exchange, MEXC.
This partnership means over six million active MEXC Exchange users, spread across 200+ countries, will now have access to XET tokens through MEXC. The platform is well-known for its stability, security, high performance, and liquidity.
The MEXC Exchange mobile app is available on both iOS and Android.
“Xfinite is thrilled to partner with MEXC, a market leader which provides top-quality tokens worldwide. We believe their platform will offer our community members an unrivaled experience. This is an important step for our ecosystem’s global expansion”, said Xfinite’s founder and CEO, Swaneet Singh.
The Xfinite Entertainment Token (XET) runs on the Algorand blockchain and will become Algorand’s first widely distributed asset. As a trustable, scalable, and decentralized blockchain solution that uses a pure Proof of Stake (PoS) consensus protocol, Algorand significantly reduces the technical barriers for mainstream blockchain adoption.
It is also cost-effective, making it ideal for microtransactions, once the average cost is less than $0.001. Speed is another benefit. Algorand has a transaction per second (TPS) of 1,000 making it faster than larger payment and banking networks.
XET was created as an inclusive economy solution to reward users for their loyalty and engagement with real-world value, and to facilitate transactions within its ecosystem, consisting of over 600 rewards partners and the dApp Mzaalo – the platform’s first use case -, where the tokens can be spent.
Xfinite’s blockchain-based ecosystem was designed aiming to build trust between users, publishers, and content creators through innovations in economics, content ownership, and data management.
Its utility token round was closed recently after receiving notably large funding from traditional and cryptocurrency investors, which resulted in nearly doubling its soft market cap of $5 million.
High-net-worth individuals and leading blockchain investors, such as Borderless Capital, and a modern financial institution focused on powering Algorand’s borderless economy, Algorand Inc, pledged their support. Xfinite’s substantial funding has enabled it to continue building the next-generation entertainment platform.
Xfinite is a blockchain-based platform designed to re-establish trust between consumers, content creators, and publishers. The Xfinite ecosystem helps the media and entertainment industry combat advertising fraud by increasing transparency and creating a new habit of engagement.
Xfinite has established various partnerships with global corporations to drive innovation and create new use cases for blockchain technology. Recent partnerships include those with Dailyhunt, which has 280 million active users; SpiceJet which annually flies +60 million passengers across India; and Eros Now which has 36.2 million paying subscribers and 216 million registered users.
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The XET token is the native currency of the Xfinite ecosystem. XET functions as a unique value exchange and governance mechanism for all stakeholders including users, brands & influencers, and content producers. The XET token was built on the Algorand blockchain because it is cost-effective at scale and therefore perfect for microtransactions. The average cost is less than $0.001 per transaction.
Founded in April 2018, MEXC is a renowned cryptocurrency exchange with a global presence. It has cut a niche for providing users with one-stop services for digital assets, such as spot, margin trading, contract trading, leveraged ETF, and PoS staking. It has an accomplished safety team and collaborates with top-tier security firms to secure the integrity of the user’s assets.
The team’s prominent members originate from world-class businesses and investment firms, and they have voluminous expertise in the blockchain and financial sectors. Besides the website, users find more information on this and other projects from the exchange’s Twitter handle and Telegram page.