How does Sologenic Coin Work
What Is Sologenic (SOLO)?
Sologenic (SOLO) operates as an ecosystem dedicated to streamlining the process of low-cost, on-demand, and secure tokenization of non-blockchain assets on the XRP Ledger. Tokenization involves the creation of digital tokens on a distributed ledger or blockchain, representing either physical or digital assets. These tokenized assets are tradeable against SOLO (Sologenic’s native coin) and XRP. The XRP Ledger, characterized by decentralization and powered by peer-to-peer network servers, serves as the foundation for the Sologenic ecosystem, aiming to bridge blockchain with other asset classes such as stocks and ETFs. The platform’s primary focus includes on-demand tokenization, trading non-blockchain assets, staking rewards, cryptocurrency cards, and community participation.
Who are the Founders of Sologenic (SOLO): Founded by Bob Ras and Reza Bashash, Sologenic (Manticore Securities AS) has its CEO, Bob Ras, who brings expertise from ventures in manufacturing, tech, and marketing industries. Reza Bashash, the CTO, boasts over 10 years of experience in engineering within the artificial intelligence and fintech sectors.
What are the Working Principles of The Sologenic?
The Sologenic ecosystem incorporates components such as a decentralized exchange module, a blockchain module, a tokenization module, and an order fulfillment module. These components form two systems: the decentralized exchange (DEX) and the asset tokenization platform (ATP). The ATP utilizes a combination of open-source and in-house technologies, ensuring a secure and advanced architecture. The DEX serves as an open-source gateway to the native decentralized exchange on the XRP Ledger, enabling real-time, peer-to-peer trading of tokenized assets.
The Sologenic ecosystem features two types of tokens:
- SOLO Coin: A utility token acting as liquidity providers and market makers, tradeable against cryptocurrencies. SOLO holders enjoy benefits such as trading fee discounts, participation in the Liquidity Provider Reward Program (LPRP), and eligibility for a free SOLO Card offering global spending perks.
- Tokenized Assets: Securities stablecoins backed by traditional currencies or stocks, exclusively available for trading on Sologenic due to required securities brokerage licenses.
How Are New Sologenic (SOLO) Created & Staked? SOLO HODLers are rewarded by staking SOLO into the SOLO Savings Program (SSP). The Sologenic ecosystem has the SOLO Expansion Fund (SEF) dedicated to growth, global reach, and increasing the value of the SOLO coin. A portion of this fund is allocated to create SSP, contributing to market price stability.
What is the Total Volume of SOLO Coin In Circulation?
The total maximum supply of SOLO coin currently stands at 400,000,000. However, this figures are bound to change over time as the cryptocurrency market is quite unstable.
What are the Limitations of Sologenic?
- Regional Economic Markets: The regional nature of economic markets hinders cross-border value exchange. Direct investments in foreign markets often require a significant capital amount or accreditation.
- Limited Access to Global Assets: Many individuals lack access to global commerce and financial services due to factors such as financial literacy, high intermediary costs, geopolitical uncertainty, lack of trust in financial institutions, and low income levels.
- Technology for Cross-Asset Trading: Existing trading systems are often limited to specific assets, lacking the technology for facilitating cross-asset trading, especially between cryptocurrencies and traditional financial instruments.
To address these challenges, the Sologenic ecosystem aims to simplify, expedite, and secure traditional asset trading and transfers, leveraging blockchain benefits and features.
Where can I Tarde Sologenic (SOLO) Coin?
The most active and dominating exchanges for buying and selling Sologenic coin currently are Binance, Kraken & Kucoin. The most popular Sologenic trading pairs are SOLO/USDT (on Huobi Global), SOLO/USDT (on BingX), SOLO/USDT (on Gate.io).
