The Sologenic Development Foundation has announced its intention to build a new NFT marketplace on the XRP ledger, which will benefit users by lowering transaction costs for minting, bidding, and trading NFTs on the existing Sologenic DEX.
The Sologenic Development Foundation has chosen to unlock 200,000,000 SOLO and offer an airdrop to XRP and/or SOLO holders internationally in order to involve the community in the ecosystem and planned governance utilities. The current price of SOLO is $1.44 USD at the time of this press release, making this Airdrop one of the largest ever delivered in the crypto industry. The tokens for this airdrop will come from the SOLO Community Fund (SCF) and SOLO Expansion Fund (SEF), which were created to build and extend the SOLO community when the ecosystem was launched in early 2020.
On December 24th, 2021 at 20:00 UTC, a snapshot will be taken from any XRP and/or SOLO wallets that have established a Trustline with the Sologenic oracle. To claim the airdrops, users may simply store their assets on the supporting centralised exchanges or construct a Trustline directly from their private wallets.
The Sologenic DEX has garnered a lot of popularity within the XRP and SOLO community for trading various crypto assets and even fiat through several gateways that issue stable currencies on the XRP ledger such as Bitstamp and Gatehub, thanks to its cheap transaction cost of roughly $0.000005. The Sologenic DEX had over 10 million monthly page visits and over 350 thousand weekly transactions at the time of this press release.
The Sologenic DEX is a cutting-edge decentralised trading platform that lets users to trade (peer-to-peer) a variety of crypto and forthcoming tokenized assets like stocks and ETFs while maintaining control over their private keys, ensuring maximum security and trust.
The DEX gives users access to all of the advantages of a good centralised exchange while allowing them to properly manage and keep custody of their own assets. SOLO Wallet, Ledger Devices, D’cent, XUMM, and other wallet integrations are supported by the Sologenic DEX. The following are some of the characteristics:
- Fees as low as $0.000005 are available.
- Widgets on the trading terminal that are dynamic and totally adjustable
- Professional charting software with 1 minute candles and live order books
- Removes entrance barriers for a private, safe, and secure trading experience that is not governed by a single body.
- A transaction’s finality is measured in seconds.
- Other wallets (Ledger, XUMM, and…) are supported.
- Support for a variety of languages, including English, Spanish, and many more
- Themes of Light and Dark
SOLO will be responsible for minting, listing, and promoting NFTs on the future Sologenic NFT marketplace.
By burning SOLO Tokens, users will be able to mint and list their NFTs on the future Sologenic NFT marketplace. Using SOLO as a payment method via a bidding system will also allow for the inclusion of an NFT. 100% of the SOLO Tokens collected as fees will be instantaneously burnt.
“The SOLO core team feel the excitement within the crypto community for the launch of the upcoming NFT marketplace on the Sologenic DEX and we believe that this new marketplace is going to solve the current barriers and problems such as extremely high cost of transaction and slow networks to mint, bid or trade NFTs.” – Reza Bashash – Tech Lead at Sologenic Development Foundation.
Sologenic.org (Sologenic Development Foundation)
The SOLO Core Team is a self-contained group of developers dedicated to the success of the Sologenic Ecosystem. It is made up of developers who are working on a variety of open-source projects and use cases centred around XRP and SOLO. The SOLO Core Team distributed 400,000,000 SOLO Tokens to be utilised across the “Sologenic Ecosystem” around two years ago.
Sologenic.com (Manticore Securities AS)
Sologenic.com (Manticore Assets AS) is an EU-registered Public Limited Company with the goal of getting a MiFID ll Investment Firm licence to tokenize securities such as equities and ETFs on the XRP Ledger utilising the Sologenic Ecosystem. When the platform is fully operating, SOLO Tokens will play an important role. Manticore Securities AS is now pursuing the licence and has created a test environment that mimics the tokenization of securities on the XRPL.