The MEXC announcement has elicited excitement among Koyo Token and Shiba Inu proponents, given the project’s friendly attachment to SHIB.
MEXC Global, one of the world’s largest exchanges by trade volume, has announced plans to list Koyo, the native asset of Koyo Token, a recently-launched Ethereum-based DeFi platform providing access to a wide range of services, including staking, borrowing and lending.
The development was disclosed by MEXC through its official Twitter handle today. The exchange noted that they plan to list the asset soon, but failed to disclose a specific date. This is the first official announcement of a top 10 CEX listing for Koyo.
MEXC is thrilled to announce that $KOY will be listing soon! @KoyoToken will offer a platform which is fair and decentralized for perpetual trading, lending borrowing and staking.
Stay tuned for more events 👀 pic.twitter.com/vlk3YNWkG0
— MEXC Global (@MEXC_Global) April 20, 2023
The MEXC announcement has elicited excitement from proponents of Koyo Token and Shiba Inu, given the project’s friendly relationship with the Shiba Inu ecosystem. The project has solidified its position as the largest single SHIB burner in the past few weeks, occasionally incinerating billions of tokens to demonstrate this friendshib with Shiba Inu.
Once it lists Koyo, MEXC will expose the token to its large global user base of over 10 million users in more than 170 countries across the world. This will help bolster adoption rate for Koyo, as well as give customers an opportunity to trade the asset in a safe platform.
Koyo Token: The New Revelation
The disclosure from MEXC comes amid anticipation of “a major CEX listing” for Koyo among members of the community. As previously reported, Kintaro, the founder of Koyo Token, recently teased the imminence of “a new revelation.” He also mentioned “420” which was understood to mean April 20.
A few hours before the MEXC announcement, Kintaro published a Medium article detailing the “new revelation.” The article stresses that Koyo Token will be ready for when Shibarium launches on the mainnet. Kintaro also asked the community to expect more CEX listing announcements for Koyo.
In addition, Kintaro detailed a series of features that make Koyo Token stand out as a comprehensive DeFi ecosystem. These features include a lending and borrowing protocol which allows users to create accounts that earn interest and also allow them to take crypto loans.
The second feature is a self-managed venture capital protocol which provides liquidity to bolster project goals, facilitate liquidity provider rewards as well as provide an initiative to boot strap liquidity for new projects.
Koyo Sustains Shiba Inu Burns
In the spirit of friendshib, Koyo has sustained its Shiba Inu burns, providing support for the Shiba Inu ecosystem. The project incinerated a massive 1.49 billion SHIB in one transaction on April 14, bringing total burns to 8.75 billion SHIB.
The project began its SHIB burns with millions of tokens last month, and has kept the campaign sustained since then, incinerating billions on occasion.
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