Your Sologenic Questions Answered

Sologenic’s mission is to become the most influential blockchain-based project in the world by bridging the gap between non-blockchain assets and crypto-assets. It aims to facilitate the mass adoption of cryptocurrency by giving everyone in the world more straightforward access to traditional financial markets.

We answer some of your questions about Sologenic below.

  1. How is SOLO different to other tokens?

SOLO is the only crypto that can be converted to other asset classes. When users execute “BUY” orders between Crypto assets and non-blockchain assets such as stocks, the system will save the crypto assets to SOLO first and then convert to non-blockchain assets. There will be no additional cost or trading fees for the conversion. SOLO is playing an essential role within the ecosystem since all settlements are by SOLO only. On the DEX, users will be able to trade these assets against both XRP & SOLO.

2. How will users tokenize assets?

SOLO holders will be able to tokenize assets from 30 global exchanges in Asia, North America, and Europe. The three asset classes traded on Sologenic are stocks, ETFs, and commodities. It means you can tokenize stock in your favorite companies such as TESLA. Some of the top stock exchanges that SOLO users can tokenize assets from including the New York Stock Exchange, NASDAQ, London Stock Exchange, Hong Kong Stock Exchange, and many more.

Sologenic stablecoins are backed by the real-world assets 1:1. The price of the tokenized stock will fluctuate during the market hours according to the amount of the represented stock on Sologenic. When these tokenized assets get traded on XRP DEX, the price is determined by the market supply and demand rule. There might be some cases when a specific tokenized stock trades at a higher or lower price after hours on the XRP DEX.

We are working on a program that allows SOLO HODLers to have access to FREE trading of tokenized assets when they maintain a certain amount of SOLO in their wallets.

Towards the end of summer, the platform that enables the tokenization of assets will go live as soon as FSA issues the MiFID II investment firm license. We will also launch a demo platform, where users can practice trading and tokenizing of assets without real money. We’re very excited about the rest of 2020!

3. What are the benefits/advantages of tokenizing assets?

Traditional financial markets are becoming obsolete! It’s time to modernize it. That’s why DeFi is so hot right now, and Sologenic aims to fill this gap by providing modern tools to users and institutions. There are many, many, many benefits to the tokenization of these types of assets on the Blockchain. Not to mention geographical borders are removed from this system. Anywhere in the world will have access to any financial instrument or market. Another great benefit is the ability to buy infractions rather than the whole stock. I won’t remind you about other advantages of the Blockchain, such as transparency, decentralization, speed, etc.

4. How will dividends be paid?

Dividends are portions of company earnings that are paid to investors and are key metrics as to which stocks investors decide to invest in. Sologenic pays dividends to tokenized assets holders in real-time as they happen. At any point in time, Sologenic can scan and find addresses that hold tokenized assets for an underlying asset and deposit the dividends or fractions of dividends (depending on the user’s holding) into their account, whether assets are in self custody or Sologenic accounts.

5. Does Sologenic offer staking rewards?

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 sources the financial resources for these reward programs through the trading fees generated.

In addition to that, Sologenic introduced a new program called the Sologenic Savings Program “SSP”.

SSP’ is a community airdrop program exclusively available to the SOLO community. The SSP offers daily rewards to loyal SOLO HODLers who stake and lock their SOLO holdings for a period of time by enrolling in one of the available time-based programs. The rewards are distributed on a daily basis into the same wallet address of the users who participate in this program. The program is being launched in partnership with CoinField Exchange.

6. Do you have functions such as buyback and burning to regulate the demand and supply of SOLO?

100% of the transaction fees generated through transfers and decentralized trading will be burned instantly by being sent to the gateway’s issuing address (Blackhole). The system practices this deflationary mechanism to bring down the total supply of SOLO coins, which makes remaining SOLO coins more valuable. This practice makes an equilibrium that, in the long term, makes it impossible for the SOLO coins to deplete due to higher valuation of coins and lower supply.

7. What’s the relationship between Sologenic and CoinField?

Sologenic is backed and launched by the CoinField exchange. CoinField is a European based centralized crypto-to-fiat exchange & virtual currency wallet system supervised by the Financial Intelligence Unit (FIU) under license numbers FVR001049 & FRK000941. CoinField adheres to the requirements under the Proceeds of Crime (Money Laundering and Terrorist Financing Prevention Act (MLTFPA).

8. Will SOLO enter the gaming industry?

Maybe! Future opportunities are limitless!

9. Adoption is one of the important factors that all sustainable blockchain projects should focus on to be more attractive in the investors’ eyes. What are Sologenic’s plans to achieve real-world adoption?

While everyone talks about the mass adoption of cryptocurrency globally, we have not seen any big step to make that happen. Considering the massive market cap and daily trading volume of Stocks, ETFs & Commodities, I believe the key is to merge these financial markets with Crypto. That will bring a considerable amount to the Crypto markets, which is precisely what Sologenic is aiming for.

10. How has Covid-19 affected Sologenic?

We have deadlines, and we have to follow the dates on our roadmap. The whole team is pushing it very hard and putting in maximum effort. I see sometimes team members work 15–16 hours a day.

COVID-19 had some impact on some of the tasks which involve the physical appearance of the team, but we have overcome that. I think everyone needs to get used to the current situation. It is what it is, and the business cannot be stopped, however, one of the main benefits and goals of cryptocurrency is to sustain such situations. The Sologenic Ecosystem can do this. Imagine a day when people are only investing and trading with cryptocurrency as the only reliable system!

11. How do you plan to spread awareness about your project in different countries where English is not spoken well?

We will establish strategic partnerships in different markets to expand our reach globally. One of the main focuses is to encourage more institutional investors to participate, and we are building partnerships with various entities in different countries.

In regards to SOLO itself, we are continually working with global crypto exchanges to list SOLO, so that people in all corners of the world can buy and trade it. The Sologenic team also attends blockchain events around the world to speak about, and introduce people to, the ecosystem.

We will also be launching several global Telegram groups to engage with communities in different languages.

12. What’s next for Sologenic?

Sologenic has lots lined up for this year. In June, the SOLO Cards will launch. Right after that, the decentralized exchange will go live. Towards the end of summer, the platform that enables the tokenization of assets will go live as soon as FSA issues the MiFID II investment firm license. We will also launch a demo platform, where users can practice trading and tokenizing of assets without real money. We’re very excited about the rest of 2020! Visit our roadmap to learn more.

13. Are you planning to try and get many partnerships as Ripple does?

Certainly! We look at the partnership as one of the primary keys to expand and grow our reach. We will continuously look for new opportunities to establish a strategic connection with other entities in different markets. We recently announced two partnerships with XUMM & XRP TOOLS KITS. Now, users can sign transactions, trade assets on the DEX, and in further stages, execute orders and trade directly using LEDGER devices.

To learn more about the Sologenic ecosystem, please visit its website.

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