The team at Sologenic Development Foundation has announced plans to create a NFT marketplace, which will be built on the XRP ledger. The primary goal of the platform is to solve the high cost and slow transactions of current NFT marketplaces on the Ethereum blockchain, enabling users to mint, bid, and trade NFTs on the existing Sologenic DEX with relatively lower transaction costs. The
The SOLO team is making big noise today in the crypto space with mentions and endorsements from notable sources like Nasdaq. Click here to read.
“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,” said Reza Bashash – Tech Lead at Sologenic Development Foundation.
Airdrop Of Over $500 million Worth of SOLO
In a related development, the Sologenic Development Foundation has confirmed the decision to unlock 200,000,000 SOLO, conducting an airdrop to the XRP and/or SOLO holders across the globe. The move will undoubtedly bring more people into the ecosystem, especially considering the price of SOLO, with the airdrop looking to be one of the largest airdrops in crypto space. Organizers have announced the source of the airdrop to be the tokens that are currently locked in the SOLO Community Fund (SCF) and SOLO Expansion Fund (SEF), initially designed for building and expanding the SOLO community.
The snapshot is scheduled to be taken on December 24th, 2021 from all the XRP and/or SOLO wallets that have created a Trustline with the Sologenic oracle. Users can either hold their assets on the supporting centralized exchanges or create a Trustline directly from their private wallets to claim the airdrops. More information can be found here.
Why is SOLO Unique?
One of the major attractions of SOLO is the tokenization of traditional assets, allowing investors to trade tokenized stocks, and ETFs, amongst, with the platform featuring over 40,000 different securities. The platform is particularly unique for the “proof-of-solvency” mechanism, providing a way for anyone to audit the reserves of Sologenic and confirm the value of their underlying assets.
Other amazing features that have attracted Sologenic to millions of people worldwide are the anticipated launch of a crypto credit card with up to 2% reward cash back and of course, the major airdrop.
Features Of The Sologenic DEX
The Sologenic DEX has become increasingly popular in recent times, especially among the XRP and SOLO community, thanks to its low transaction that allows users to trade various crypto assets and even fiat through different gateways that issue stable coins on the XRP ledger. The advanced decentralized trading platform already has over 10 million monthly page views, with more than 350K transactions weekly.
The platform allows users to trade (peer-to-peer) a plethora of crypto and upcoming tokenized assets, including Stocks and ETFs, with maximum security and trust. Other features of the DEX include integration of different wallets, including SOLO Wallet, Ledger Devices, D’cent, and XUMM, fees as low as $0.000005, dynamic and fully customizable widgets, multi-lingual support, prompt transaction execution, professional charting tools, and light / dark themes.
There are also plans to allow users to mint and list their NFTs on the upcoming Sologenic NFT marketplace by burning SOLO Tokens. Users will also be able to feature NFTs, with SOLO being the means of payment through a bidding system.
For more information about the airdrop, the NFT marketplace, and other initiatives from Sologenic Development Foundation, visit the website: https://www.sologenic.com/