AgriDex facilitated the trade of a rare White Park Bull, purchased by a private buyer from Aurox Meats.
A picture of the first bull to be traded on Solana
AgriDex, a Solana-based real-world assets (RWA) marketplace and winner of the Stand With Crypto UK’s ‘Best Use Case’ Awards, made history this week by facilitating the world’s first trade of a live bull on the blockchain from Aurox Meats. The transaction was seamlessly executed through the AgriDex platform and recorded on the Solana blockchain. The bull comes from Gatcombe Park, the Princess Royal’s herd. The White Park bull, Dinefwr Wyn, carries a lineage steeped in royal heritage, traced back to some of the most renowned bloodlines in the breed’s history.
“This historic transaction isn’t just bullish for Solana, it’s bullish for the entire global livestock market. AgriDex demonstrates how blockchain can bring greater accountability to the livestock trade, empowering farmers and suppliers while ensuring animal welfare standards are maintained,”
said Henry Duckworth, Co-Founder and CEO of AgriDex.
The Future of Solana Depends on Utility
Memecoins may be fun, but Solana needs substance. While the blockchain’s speed, low fees, and scalability have fueled an explosion of memecoins, capturing retail traders and driving community engagement, the long-term health of the ecosystem depends on more than fleeting hype. Real-World Assets (RWA) present a transformative alternative and offer sustainable growth and real-world value.
In early 2024, RWA emerged as the second most profitable crypto narrative, delivering an impressive 285.6% return. For a brief moment in February, it even surpassed memecoins. RWA has been gaining further popularity and is emerging as one of the main narratives of the upcoming bull run.
AgriDex leverages the power of Solana’s blockchain to revolutionise livestock trading with transparency, efficiency, and fairness. By ensuring every transaction is fully trackable, the platform reduces fraud and price manipulation across global supply chains. Its near-instant settlements come with significantly lower fees—just 0.15% per trade side—compared to traditional methods that often charge several percentage points and take 4-6 days to settle transactions.
The successful facilitation of the trade on the blockchain showcases AgriDex’s commitment to innovation and highlights its role as a platform driving the adoption of blockchain for agricultural and livestock trades globally.
As illustrated in the graph below, the project is expected to generate 133 million in profit by the end of 2028.
Source: AgriDex
Revolutionalise the agricultural industry with blockchain
Set to launch on December 4th, Agridex is revolutionising the $2.3 trillion global agricultural trade industry by tokenising the supply chain. AgriDex offers farmers instant settlements, drastically reduced transaction costs, and fraud-proof traceability using blockchain and non-fungible tokens (NFTs) to enshrine legal contracts.
The AgriDex Token ($AGRI) is launching at a valuation of $65 million and anticipates generating $53.28 million in trading fees by the end of 2026, supported by an expected net buy pressure of $39.2 million within two years.
Blockchain technology is undeniably redefining the tech paradigm, but many have jumped on the trend solely for profit, often not solving a real-world problem. AgriDex, however, stands apart by delivering genuine utility, leveraging blockchain to drive meaningful impact and innovation in the agricultural sector.
For instance, food fraud cost the UK £1.96 billion in 2021 and globally accounts for $30-40 Billion dollars in lost revenue. Food fraud is notoriously hard to detect with only 20% of suspected cases being reported. In the UK, of the 610 that were reported in 2021 there were only 16 successful prosecutions, or under 4%. Poor traceability and certificate verification The fraud highlighted above is enabled by the opacity of crossing multiple jurisdictions using wet contracts and poor visibility of origin for consumers. Dozens of different standards and certifications make it challenging to assure quality, origin and sustainability credentials.
Source: AgriDex
AgriDex solves the problem by providing an inclusive marketplace for all participants in the supply chain. It is driven by the immutable ledger of blockchain – that delivers trust, transparency, and accountability. The RWA platform built on Solana lowers the cost of food traded through it, increases choice, and delivers transparency, reducing fraud and verifying quality and origin and sustainability credentials. It is focused on solving critical issues with trading agricultural products and services including inefficiency, fraud, access to finance and insurance. AgriDex will create a fair and transparent financial system.
The graph below illustrates the significant cost and time savings that AgriDex offers
• Cost Savings: While traditional systems incur a cost of $1,125 per tonne of cocoa, AgriDex slashes this to just $660, highlighting a stark reduction in trade expenses.
• Time Efficiency: Traditionally, such a transaction takes 65 days to complete, but with AgriDex, it’s cut down to 40 days. This accelerated timeline demonstrates AgriDex’sefficiency.
Source: AgriDex
AgriDex is redefining the global agricultural trade industry by leveraging blockchain technology to create a transparent, efficient, and fraud-resistant marketplace. By reducing costs, cutting transaction times, and providing traceable records of quality, origin, and sustainability, the RWA platform on Solana addresses critical inefficiencies in the $2.3 trillion agricultural sector.
As the first platform to successfully trade a live bull on Solana, AgriDex showcases the transformative potential of RWAs and sets a new standard for using blockchain to solve real-world problems, driving meaningful innovation and sustainable growth in agriculture.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
