What Is Sologenic (SOLO)?
Sologenic (SOLO) is a decentralized finance ecosystem built on top of the XRP Ledger. It aims to enable users to trade over 40,000 stocks and ETFs in the future from 30 global stock exchanges using cryptocurrency. SOLO tokens are used to facilitate the trading of these assets and provide liquidity to the Sologenic ecosystem. The platform also offers a crypto card for SOLO holders, allowing them to use their crypto assets for daily expenditures. Additionally, Sologenic has a community fund and expansion fund to support community-based projects and promote the growth of the ecosystem. The team behind Sologenic is a mix of experienced professionals from various industries, including finance, blockchain, and marketing.
Who Are the Founders of Sologenic?
Bob Ras is the CEO and founder of Sologenic. He has extensive experience in establishing businesses in various industries such as manufacturing, tech, and marketing. His manufacturing businesses have over a hundred distribution outlets in 62 countries worldwide. In 2018, Bob shifted his focus to cryptocurrency and blockchain technology with a vision to create a new financial ecosystem for the new era. He is passionate about digital assets and aims to revolutionize the financial world through Sologenic. With his expertise and entrepreneurial skills, Bob is committed to building a robust platform that provides access to global assets and a decentralized trading environment.
Reza Bashash is the CTO and founder of Sologenic. He has a wealth of experience in Artificial Intelligence and Fintech sectors, having founded several successful tech companies over the past ten years. Reza is a solid entrepreneur and influential Blockchain advocate. With his expertise in software architecture and blockchain technology, he is committed to developing a top-notch securities tokenizing engine and trading platform for Sologenic. Reza is passionate about blockchain technology and aims to bring innovation to the financial world through Sologenic.
What Makes Sologenic Unique?
Sologenic is unique in several ways. First, it provides aims to provide in the future it's users with access to over 40,000 stocks and ETFs from 30 global exchanges. This is made possible through the tokenization of assets, which allows users to trade stocks and other assets using cryptocurrencies, without the need for intermediaries. This means that users can trade a wide range of assets without being limited to the stocks available in their respective regions.
Second, Sologenic aims to create a decentralized trading environment where users have complete ownership of their crypto assets. Sologenic users keep their own private keys, allowing them to transfer or trade their crypto assets without any third-party involvement. This means that users have full control over their assets and can trade them seamlessly and securely.
Finally, Sologenic intends to launch a crypto card for SOLO holders, allowing them to use their crypto assets for daily expenditures, ATM withdrawals, shopping, and utility bill payments. The primary intent behind launching the SOLO crypto card is to promote the use of cryptocurrencies in daily lives. Overall, Sologenic aims to provide users with a seamless and secure platform to trade a wide range of assets while promoting the use of cryptocurrencies in daily lives.
The SOLO Wallet is a comprehensive decentralized wallet app that allows SOLO holders to manage their digital assets easily. Through the newly updated SOLO Wallet app, users can access the SOLO DEX and store cryptocurrencies, such as SOLO and XRP, as well as tokenized assets, including stocks and ETFs, all in a single app. The app offers several features, including the ability to manage multiple wallets, transfer digital assets, view recent transactions, receive live market updates, and more. The wallet app also offers biometric authentication, providing users with an added layer of security when trading their tokenized and cryptocurrency assets. The SOLO Wallet app is available for both Android and iOS devices.
SOLO Card is a free card offered to SOLO holders that enables them to spend their cryptocurrency instantly worldwide. The card comes in four tiers, each providing various benefits, such as discounts on select hotels and events, monthly cashback rebates, airport lounge access, and other perks, depending on the amount of SOLO held. The SOLO Black Metal Card is available to tier two SOLO holders with under 100,000 SOLO and offers 0.5 percent monthly cashback. In contrast, tier four cardholders with the SOLO Black Whale Card can receive up to two percent monthly cashback. However, a minimum balance must be maintained for the card to remain active, regardless of the tier level.
Tokenized Assets Trading
The financial industry is ripe for technological innovation, and blockchain technology, such as the Ripple platform, is opening new doors for decentralization and global asset liquidity. Tokenization allows for unprecedented levels of interconnectedness and 24/7 liquidity, providing maximum asset flexibility and gains.
The advanced Sologenic ecosystem leverages blockchain technology to enable on-demand tokenization of various assets, including non-blockchain assets typically linked to traditional financial markets, such as stocks and ETFs. With access to thousands of assets from over 30 global exchanges, SOLO holders can use the platform's infrastructure to connect blockchain-based assets with legacy financial systems, facilitating asset tokenization and cryptocurrency trading for other asset classes.
In other words, tokenization allows for investments in not only crypto or NFTs but also stocks and other traditional investment vehicles. Investors can access and trade digital tokens 24/7 on global markets via a DEX, with each token representing a stake in the underlying asset's ownership. The end-user has full control over asset management, and the entire tokenization process is transparent.
By removing third parties responsible for buying, selling, and securitizing assets, blockchain technology provides full transparency and eliminates the regulations, overhead, and points of failure associated with the traditional financial system. As a result, investors can tokenize and trade any asset on demand.
SOLONEX is an exclusive tokenization brokerage solution by Sologenic, tailored for institutional investors, investment firms, banks, brokerage houses, and exchanges. The platform offers 24/7 fractional trading, liquidity management, custodial services, funding round launching, and tokenization of various real-world assets. SOLONEX provides large-scale investors with secure and technical capabilities, similar to those found in traditional finance, while accessing decentralized markets. Unlike Sologenic’s other products, SOLONEX uses the XRP ledger and is not available to retail investors. Interested parties must schedule a demo with the Sologenic team to learn more about SOLONEX’s features.
The Sologenic DEX is a newly established decentralized trading platform, specifically designed for peer-to-peer (P2P) transactions of various cryptocurrencies and tokenized assets. The platform enables users to trade assets in real time with other investors through an online platform, which can be accessed via the SOLO project's blockchain wallets on iOS and Android. To ensure security, users must open an authorized trust line at the Sologenic ATP.
The DEX is built on the highly secure and fast XRP blockchain ledger, and users maintain full custody and control of their private keys, ensuring added security and trust. Although the platform takes an order-book approach to transactions, users have self-custody, ensuring full ownership of their tokenized assets. This means that the exchange can only access funds through an existing wallet controlled entirely by the user.
With low trading fees of $0.000005 powered by the XRP Ledger, the Sologenic DEX offers several features, including P2P trading of tokenized assets, access to powerful professional charting tools, multi-language support, and fast transaction speeds, with the ability to handle up to 1,500 transactions per second. The platform also offers advanced trading features, such as market orders, stop losses, and limit orders, allowing traders to execute trades nearly instantly with the same speed and experience of a centralized exchange.
Sologenic NFT Marketplace
The Sologenic Development Foundation has launched the highly anticipated Sologenic NFT Marketplace, which is quickly gaining traction as a leading platform for minting and trading NFTs on the XRP blockchain. A select group of creators from around the world were chosen during a limited early access period to mint the marketplace's first NFTs.
As NFTs continue to gain popularity in the entertainment industry as a decentralized means for creators and artists to monetize their work, the Sologenic NFT Marketplace offers NFTs across various categories, such as music, motion graphics, film, and sports. New creators can mint their works at lower up-front costs since there are no gas fees.
Moreover, the Sologenic NFT Marketplace offers a user-friendly experience catering to both new and experienced traders. It is available in over 20 different languages and is integrated with the Sologenic DEX to create a seamless experience between NFT minting and modern-day trading.
In addition, the Sologenic NFT Marketplace features Sologenic Originals, where users can create their unique 3D avatar for metaverse exploration. The latest collection was recently released in August 2022, with the next one scheduled for September 15, 2022.
What purpose does Sologenic (SOLO) serve?
Sologenic (SOLO) is designed to serve as a bridge between traditional financial markets and the cryptocurrency world. It is a decentralized platform that aims to allow users to trade over 40,000 stocks, ETFs and other assets from 25 global exchanges directly on the XRP Ledger.
The platform also WILL offers users the ability to tokenize assets, meaning that users can create and trade digital assets that represent real-world assets. These assets are called "Solo Tokens" and are issued on the XRP Ledger. Each Solo Token is backed 1:1 by a corresponding asset and can be traded or redeemed at any time.
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How Many SOLO Are There in Circulation?
There is an initial maximum supply of 399,222,000 SOLO tokens, of which an estimated 399,222,000 SOLO currently in circulation as of February 2023. 15% of the circulating supply was airdropped to the XRPL community. The rest of the SOLO is distributed Sologenic whitepaper to the team (35%), SOLO liquidity (15%), SOLO Community Fund (20%) and SOLO Expansion Fund (15%).
Where Can You Buy SOLO?
SOLO is a token trading on the XRP ledger DEX, the most straight forward way to acquire SOLO tokens would be to purchase them through XRPL DEX.
If you are looking for alternative exchanges where you can purchase SOLO, Bitrue is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.
How to stay tuned for further updates?
If you wish to receive more updates about the Sologenic ecosystem and upcoming events, we suggest you follow @realSologenic on Twitter.