Sologenic is disrupting the asset trading industry: Tokenized Securities, Crypto Assets & NFTs.
Sologenic.com and sologenic.org are two separate teams. Sologenic.org aka SOLO Core team’s focus is purely on the expansion of the Sologenic as a decentralized ecosystem while the sologenic.com team are working on the launch of an important use-case of the Sologenic ecosystem: Securities Tokenization
# Sologenic.org (SOLO Core Team)
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SOLO Core team is an independent community of developers with the passion of making the Sologenic Ecosystem successful. It consists of developers who are actively working on various open-source projects and use cases around the XRP as well as SOLO.
The Sologenic DEX has currently over 2M views and 250K+ transsactions on weekly basis. Try trading on the Sologenic DEX: www.sologenic.org
# Tokenize Assets with SOLO
Sologenic generates stablecoins backed 1:1 with real-world assets. Each stablecoin represents the ownership of real-world assets. Once tokenized, the asset issued on the blockchain is denominated with the suffix Ƨ, for example, a tokenized asset of TSLA is represented as TSLAƨ.
# Trade Assets 24/7 on Sologenic's Decentralized Exchange
Users can trade these tokenized assets against SOLO or XRP on Sologenic’s Decentralized Exchange (DEX). The users hold their private keys of the wallets, providing them complete ownership and authority over their crypto assets. The XRP Ledger allows for swift transactions, quick settlements, and improved security of the user's cryptocurrencies.
100% of the transaction fees are burned by being sent to the gateway’s issuing address (Blackhole). This means that Sologenic practices a deflationary mechanism to bring down the total supply of SOLO tokens.
The Sologenic DEX has currently over 2M views and 250K+ transsactions on weekly basis. Try trading on the Sologenic DEX: www.sologenic.org
# Solo Staking
SOLO holders can voluntarily participate in the Liquidity Provider Reward Program (LPRP), and receive rewards of up to 20% annually. There are multiple time-based programs, with both weekly or monthly participation models. Some of these programs come with flexible withdrawal terms, whereas others come with a fixed time-based deposit model. There is a daily reward payout mechanism for flexible programs and a time-based payout for fixed-term reward programs.
# Sologenic Ecosystem Expansion
The SOLO Core Team, on the other hand, is actively looking to expand the use cases of SOLO as well as increase community engagement. The team has been building some of the greatest tools that work with the XRP Ledger such as the Sologenic DEX, SOLO Wallet, and the upcoming NFT marketplace.
With the popularity of the Sologenic applications on top of the XRP Ledger, the SOLO Core Team along with the feedback from the community has decided to increase the uses cases of the SOLO Tokens, and as such is proposing:
# SOLO as a utility token on the Sologenic XRPL DEX
Sologenic DEX is one of the most popular DEX gateways to the XRP Ledger. At the time of writing this post, the DEX has over 2,000,000 views per week and an average of 150,000 transactions going through the Sologenic DEX on a weekly basis.
Currently, the developers behind the Sologenic DEX, decide about which pairs to list on the DEX UI. This process is not really beneficial for the community and we think the engagement and the power of DEX should really be decentralized too.
# Community Voting Mechanism
For the above-mentioned reason, the team is proposing a voting mechanism using SOLO for all the listings and default pairs. Not only does this bring more value to the SOLO Token, but also more value to the projects on the XRPL and the community.
# SOLO for minting, listing, and featuring NFTs on the upcoming Sologenic NFT marketplace
SOLO Core Team has announced plans to launch an NFT marketplace platform to the existing Sologenic DEX. Users will be able to mint and list their NFTs on the upcoming Sologenic NFT marketplace by spending SOLO Tokens. Featuring an NFT will also be possible by using SOLO as a payment by using a bidding system.
> 100% of the SOLO Tokens collected as fees will be burned instantly.
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# How to stay tuned for further updates?
If you wish to receive more updates about the Sologenic ecosystem and the upcoming airdrop, we suggest you follow @realSologenic on Twitter.