Exchange Sologenic (SOLO)

Sologenic is a blockchain system that aims to facilitate the process of tokenization and build on top of the XRP ledger network. The aim is to make tokenization cheaper, on-demand, and secure. Because it runs on the XRP Ledger, the tokenization happens fast and in a secure way. 

Sologenic was launched by Bob Ras and BashHash. The project has an ambitious mission to become the most influential blockchain-based project in the world by bridging the gap between crypto and non-crypto assets. It is based on a vision of facilitating the mass adoption of blockchain technology, allowing people to tokenize the economy and use crypto in all possible ways. 

The Sologenic network facilitates investing and trading between crypto and non-blockchain assets such as stocks, ETFs, and commodities from the top 30 global stock exchanges in Australia, North America, Asia, and Europe, which can be monitored on the platform in real-time. Users can also get real-time price quotes, tokenize preferred assets on demand and trade them during market hours. 

There are two parts of the same ecosystem with two separate teams. For instance, sologenic.org is focused on the expansion of the Sologenic as a decentralized ecosystem and sologenic.com is aiming to develop a security tokenization feature. Sologenic.org is a core team of the project and consists of developers interested in open-source projects and use cases around XRP. 

Sologenic generates stablecoins, pegged to the real assets 1:1. When the asset is tokenized, it’s denominated on the platform with the Ƨ suffix. Those assets can be traded on the Sologenic DEX against SOLO and XRP. The private keys are held by the users, so they have complete control and ownership over their funds. 

The project team aims to expand the use cases of the SOLO coin and increase community engagement. To achieve those goals, the team built tools that work with the XRP Ledger. At the moment the Sologenic ecosystem includes Sologenic DEX, SOLO wallet, and NFT marketplace. The architecture is based on five main components, which are Sologenic Trading Panel, Brokerage Gateway, XRPL native DEX, XRP Ledger, and Open SDK suite. All together the components allow depositing fiat, investing in a stock, tokenizing the asset, and withdrawing the tokenized representation of the stock to a private self-custodied wallet. 

The network applies the Proof-of-Solvency mechanism to allow users to audit assets at any given time. 

According to the recent Sologenic news, the Sologenic Market index will go live on September 29. It will allow users to launch their own projects with XRPL tokens easily and seamlessly. 

SOLO is the native token of the platform. The holders of SOLO can get a SOLO card that allows paying with the tokens anywhere where normal bank cards are accepted. The token holders can voluntarily participate in the Liquidity Provider Reward Program and get up to a 20% annual reward. There are multiple time-based programs with weekly and monthly participation models. All of them have flexible withdrawal terms, but some of them have a fixed-time-based deposit model. The rewards are daily according to the payout mechanism. 

The total supply of SOLO crypto is 400 million coins. 35% of the token is distributed to the team but locked for 36 months. 15% is allocated to the public sale, 15% is sent for the liquidity and operation, 20% is left for the community fund, and 15% is for the expansion fund. 

How Much Is the Average Fee on Sologenic? 

100% of the fees are burned by being sent to the Blackhole address (gateway issuing address), activating the deflationary mechanism, and reducing the supply of SOLO tokens over time. Sologenic intends to offer discounts on trading fees. For transactions on the Sologenic, current XRP fees are applied. 

What are Popular Sologenic Wallets?

The SOLO token can be held in the native SOLO decentralized wallet, which can also store stocks, ETFs, and commodities. The native SOLO token is also supported by Binance, Coinbase, Bitfrost, Trezor, Ledger, Uphold, etc.