Our Chief Product Officer Dmitri Litvinovich took part in his first Sologenic AMA this month. In case you missed it, here is the second part!
You can read the first part here.
“Token burn” is useful for any project. It controls the amount of token circulation and provides more significant incentives to investors. Does Sologenic have a plan for burning tokens?
Transaction fees generated through transfers and decentralized trading will be burned instantly to lower the total supply of SOLO coins and make SOLO coins more valuable.
SOLO is one of DeFi’s projects. What is the next target in SOLO Development? Will SOLO present a Staking Mechanism? As we all know, the DeFi Project must have and develop its own Dapp. Can you name the Dapp that you are preparing for now, and how does your Dapp work?
I like to express appreciation to the team behind that; it’s a great idea that you don’t see that often. I think our primary motivation to keep our community informed about later trends, rumors, new projects, etc. I like it a lot.
Can you tell us the motivation and benefits for investors to hold the SOLO token for the long term? What are the team’s plans to make SOLO a top project on Coinmarketcap?
We’re working hard on building an ecosystem where SOLO acts as a core. For example the tokenization of stocks presented in stable coins that are tradable and redeemable against SOLO. NOTE- this is not investment advice.
I have a question about SOLO Cards. Will there be discounts on transactions for using the SOLO CARD? What will be the benefits, and in which countries will it be available?
We are first planning to launch the program for Europe and the UK. Followed by gradual expansion to other regions. As for the benefits, there are quite a few, but I prefer to announce them closer to the launch date.
What is your biggest challenge in the future and how do you solve it?
Challenges are what makes life enjoyable. Overcoming them is what makes our job interesting. We are more focused on opportunities and bright ideas. Sometimes regulations for crypto are challenging, but it’s resolvable.
Are you ok with the USA’s regulations? What about your country?
We are compliant with the regulations we are presented in, not working with the USA at this time.
The only way the blockchain industry will expand and grow is to have users that will be able to use products with ease. What are some of the unique features of Sologenic that would help attract more users?
We are making financial products available for anyone, anywhere, any time. Just with your mobile device, you can access any stock or ETF you want. Isn’t that’s cool & easy?
Would you explain what Proof of Solvency is? And which characteristics make it better than the traditional Proof of Stake (PoS)?
We expose an endpoint that allows for the public to view the inventory of real-world assets via APIs and corresponding assets on XRPL. Additionally, Sologenic is to conduct 3rd party audits that would certify the authenticity of the assets.
What does Tokenizing an asset mean? What are the benefits of it & why would one want to convert rights to their holdings into digital tokens?
There are many advantages, such as accessibility and availability, fractional buying or selling, trading, speculating, investing- everything without institutional bureaucracy at the speed of XRPL.
What happens when SOLO completes its goal?
We set a new one!
Marketing is a central element for every project so that everyone knows the potential that a project can bring. What is your strategy to attract new users and investors to Sologenic and keep them long term?
We have a great marketing team, but you also need to have a great product to succeed in the long run. We have both combined, that’s our strategy in short.
Can you explain the main benefits of Tokenizing Assets like Stocks & Fiat? Why should we choose Sologenic rather than any other platform?
Nowadays, in many places, you can only do that through private banking. This is not available for 90% of the world’s population. We’re bringing this to anyone, anywhere!
If you would like to ask Dmitri more questions, you can connect with him on Twitter.
Join the Sologenic Telegram group for updates, SOLO discussion, giveaways, and to take part in future AMAs!