Category: News

With the announcement of Coreum, a 3rd generation, layer-1 blockchain built to serve as a core infrastructure of future Blockchain applications, many questions and concerns have arisen within the Sologenic and XRP community. 

In this FAQ we will address the most frequently asked questions and clarify Sologenic’s roadmap with regards to its interoperability with both Coreum and the XRP Ledger. 

Is Sologenic leaving the XRP Ledger?

Sologenic and SOLO will continue to live and operate on the XRP network. Some of Sologenic’s use cases within the DeFi field in the future will require Smart contracts, therefore, the Sologenic token must be interoperable with other blockchains such as Coreum.

Is the team ditching Sologenic for Coreum?

Absolutely not. The Sologenic Development Foundation has decided to build a whole new Layer-1 blockchain with a lot of capabilities for the sake of Sologenic success, to release its full potential and accelerate mass adoption. 

Why does Sologenic need Coreum?

The XRP ledger does not support all the features Sologenic will need to reach its full potential, such as Smart Contracts. Sologenic’s roadmap involves smart contracts, on-chain token issuance functionalities, and cross-chain compatibility.

The Sologenic Development Foundation (SDF) has created Coreum for the success of the Sologenic ecosystem. Many capabilities of Coreum blockchain have been designed in a way to meet Sologenic’s roadmap and future expansion for example, Tokenization of assets, Ultimate cost efficiency of the transaction and a native DEX with synthetic order book.

Where can I get $CORE Tokens? 

Coreum is a community-build project, with no Initial Coin Offering (ICO); tokens will initially be distributed to SOLO holders. The 20% of the total CORE supply, 100,000,000 CORE, will be distributed to those wallet addresses holding $SOLO at the time of each snapshot. A total of 13 snapshots will be taken within the next 371 days.

There will be another Airdrop equal to 30% of the total supply of Coreum to $CORE holders. The time, dates and distribution will be decided directly by the Coreum community.

For detailed information about the upcoming $CORE Airdrop in the following article: https://sologenic.medium.com/coreum-airdrop-100m-core-for-sologenic-community-and-solo-holders-d7dc73c9271d

When is the first Snapshot for the $CORE token?

The first snapshot is scheduled to be taken at a random time between the 24th and the 31st of December 2021.

Can XRP holders receive $CORE?

XRP holders will receive SOLO tokens in a separate Airdrop. Potentially, if they hold SOLO tokens during each CORE snapshot, they can receive CORE tokens as well.

What makes Coreum superior to other layer-1 blockchains?

Coreum is a modern 3rd generation Layer-1 blockchain with many new capabilities:

7000  Transactions per second

1.5s  Block time

BPoS  Consensus Mechanism

99%  lower carbon footprint

WASM Smart Contract

Interoperability Cross-Chain Interoperability

DEX Built-in DEX with orderbook

Coreum solves the three biggest problems modern Layer-1 blockchains encounter without ever sacrificing decentralization. Scalability, interoperability, and low transaction fees can now be available on the same blockchain with the integration of rotating validators.

Do I need to set up a trustline to be eligible for the $CORE airdrop?

No action is needed! If you hold SOLO on your decentralised wallet, this means a trustline has been already established.

If you keep your SOLO on a centralised exchange, then you need to contact your exchange to make sure they will support CORE airdrop.

At the time of the initial $CORE IOUs distribution on the XRP Ledger, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE token deposits. More information on this will be released in late January 2022.

Is the team behind Coreum the same one behind Sologenic?

Coreum and Sologenic are both projects backed by the Sologenic Development Foundation. The Solo Core team is integrated by energetic professionals looking to shape and build the future of DeFi. However, part of the development team will be different as Coreum requires a different language to be programmed and built.

Where can I learn more about Coreum?

We suggest you watch the explainer video and review the blueprint:

Video: https://youtu.be/XjNDsgsbsWI

Blueprint: https://sologenic.medium.com/coreum-a-modern-layer-1-blockchain-fast-and-smart-f6049274accd

Can I be part of the Coreum project? 

Yes! Coreum is a 100% community based project. If you believe you can bring value to the project then get in touch with us at join@coreum.com or check out the available positions here: https://join.coreum.com/

In the previous blog, The Sologenic Development Foundation has revealed the upcoming new blockchain network “Coreum” and its architecture proposal. To understand more details about the Coreum architecture, please visit www.coreum.com.

Coreum’s ecosystem and technology are built by the community for the community. With no Initial Coin Offerings (ICO) or Token Sale, Coreum is an open-source project built to be 100% community-based, allowing this technology to support extensive future growth in Decentralized Applications (dApps) and DeFi space within the whole blockchain ecosystem.

In order to engage the community to participate in the new Coreum ecosystem and proposed governance utilities, the CORE Team has proposed to conduct an airdrop equal to 20% of the total supply of $CORE tokens (100M) to the Sologenic community as the initial backer and the most important use-case of Coreum blockchain according to a 371-day distribution schedule.

Another 30% of the total supply will be airdropped to the $CORE holders gradually based on a 12 to 36-month distribution plan. The timing will be decided by the Coreum community and $CORE holders through a voting mechanism available within the ecosystem.

First, let’s take a look at the $CORE token allocation:

When will the Snapshot be taken and the CORE tokens be distributed to $SOLO holders?

The Coreum airdrop will take place after capturing a snapshot of the account balances on the XRP Ledger, which established a TrustLine to the Sologenic Gateway.

The system will take one snapshot at a random day/time, each month for the next 371 days. The first snapshot is scheduled to be taken at a random time between the 24th to 31st of December 2021.

A total of 100,000,000 $CORE will be distributed to those wallet addresses holding $SOLO at the time of each snapshot.

A total of 13 snapshots will be taken within the next 371 days from all SOLO wallets. The very first snapshot is scheduled to be taken at a random time between 24th to 31st of December 2021.

Initially, $CORE tokens will be distributed via an IOU on the XRP Ledger and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the $CORE. Alternatively, the tokens can remain and co-exist on the XRP Ledger and be traded on the Sologenic DEX.

Example: Let’s assume the final amount of $SOLO which are qualified for the $CORE airdrop at the time of each snapshot is as follows:

Snapshot 1: 10,000,000 $SOLO

Snapshot 2: 12,000,000 $SOLO

Snapshot 3: 15,000,000 $SOLO

….

Snapshot 13: 20,000,000 $SOLO

Then the number of $CORE Airdrops for the holders of $SOLO will be calculated and deposited as below:

CORE Airdrop Amount “Example”:

Snapshot 1: (100,000,000 ÷ 12) ÷ 10,000,000 ≈ 0.834 $CORE per each $SOLO holding on first month

Snapshot 2: (100,000,000 ÷ 12) ÷ 12,000,000 ≈ 0.70 $CORE per each $SOLO holding on second month

Snapshot 3: (100,000,000 ÷ 12) ÷ 15,000,000 ≈ 0.56 $CORE per each $SOLO holding on third month

….

Snapshot 13: (Remaining $CORE Airdrop Pool) ÷ 20,000,000 ≈ Amount of $CORE per each $SOLO holding for the last distribution

A total of 100,000,000 CORE will be distributed to the $SOLO holders within the next 371 days.

When/How will the CORE Airdrop be Distributed?

Each month’s airdrop will be distributed at the time of next month’s snapshot at a random date and time to the $SOLO holders.

Since all $SOLO holders automatically have a TrustLine with the Sologenic Gateway, they are NOT required to take any action to participate in the $CORE Airdrop.

At the time of the initial $CORE IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE tokens deposits. More information on this will be released in late January 2022.

At the time of the initial $CORE IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE tokens deposits. More information on this will be released in late January 2022.

Here is the schedule for Snapshot and distribution of the $CORE Airdrop for the $SOLO holders:

What if you hold your $SOLO on Centralized Exchanges?

$SOLO holders who hold their assets on exchanges will need to periodically check and see if their exchange is supporting the $CORE airdrop.

We will initially reach out to exchanges and ask them to distribute the $CORE tokens to their respective users. However, the $SOLO community may help in asking their favorite exchanges to consider participating in the airdrop.

When/How can I trade $CORE?

Initially, $CORE tokens will be distributed via an IOU on the XRP Ledger and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the $CORE.

The $CORE tokens can remain and co-exist on the XRP Ledger and may be traded on the Sologenic DEX, other XRPL DEX and Partipcating Centralized Exchanges after the first distribution is completed in February 2022.

At the time of the initial $CORE IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE tokens deposits. More information on this will be released in late January 2022.

How to stay tuned for further updates?

If you wish to receive more updates about the upcoming $CORE airdrop, we suggest you follow @CoreumOfficial and @realSologenic on Twitter.

What is Coreum?

Coreum is a 3rd generation, layer 1 Blockchain built to serve as a core infrastructure of future Blockchain applications.

The Coreum blockchain is simply the solution to improve all current weaknesses and provide developers with an essential infrastructure to build any decentralized app, from DeFi and Metaverse to Gaming & even asset tokenizations, banking & remittances in the financial industry.

Coreum interoperates with existing Blockchains while processing efficient, secure, fast and sustainable transactions. Get more info on www.coreum.com

Backed by the Sologenic Development Foundation

Abstract

In this document, we present the upcoming new layer-1 blockchain network “Coreum”, its architecture proposal and the details of the upcoming $CORE Airdrop for the Sologenic community and the $SOLO holders as the initial backer and the most important use-case of Coreum.

Coreum is a 3rd generation, layer-1 blockchain built to serve as a core infrastructure of future Blockchain applications.

With No Initial Coin Offerings (ICO) or Token Sale, Coreum is an open-source project built to be 100% community-based, allowing this technology to support extensive future growth in Decentralized Applications (dApps) and DeFi space within the whole blockchain ecosystem.

Coreum’s native token $CORE will initially be airdropped to the Sologenic community and eventually, the community can decide how the distribution continues in future phases.

It’s notable to mention that Sologenic ecosystem and $SOLO will co-exist on both of the XRP Ledger and the upcoming Coreum blockchain.

Disclaimer: This document does not constitute nor imply a prospectus of any sort. No wording contained herein should be construed as a solicitation for investment. Accordingly, this paper does not pertain in any way to an offering of securities in any jurisdiction worldwide whatsoever. Rather, this paper constitutes a technical description of the functionality of the Coreum Blockchain and its various sub-components. The final White Paper is to be released in Feb 2022. Visit www.coreum.com for more information.

* This is not a Whitepaper for the Coreum Blockchain, a detailed technical paper will be released in Feb 2022.

*This document is under heavy modification and technical details are subject to change without notice.https://www.youtube.com/embed/XjNDsgsbsWI?feature=oembedMeet Coreum

Table of contents

· Motivation
· Architecture proposal
· Validators
· Transaction Fees
· Validator Incentives
· Validator Rewards Pool
· Burn Mechanism
· Staking
· Delegating
· Slashing/Retribution
· Governance
· Fungible and non-fungible token Issuance
· Smart contract (WASM)
· Interoperability & bridges
· Decentralized exchange (DEX)
· Decentralized Apps (dApps)
· Use cases
· Token Economy
· Allocation
· Distribution and airdrop of $CORE for $SOLO holders
· When will the Snapshot be taken and the CORE tokens be distributed to SOLO holders?
· When/How will the CORE Airdrop be Distributed?
· What if you hold your $SOLO on Centralized Exchanges?
· When/How can I trade $CORE?
· How to stay tuned for further updates?
· Roadmap
· Coreum Community
· Open-Source Dev Contribution

Motivation

Sologenic was initially launched with the purpose of on-demand tokenization of assets such as stocks and ETFs that could be traded on a fast and reliable Decentralized Exchange. The obvious choice at the time was the XRP Ledger which enabled us to experiment with TrustLines (IOUs) and the native built-in Decentralized Exchange.

The Asset Tokenization Platform or ATP (https://sologenic.com) has been in simulator mode since early July 2020 and it has been used and pilot tested by many enthusiasts in the crypto industry. At Sologenic, we have a “product first” approach that can be used by the masses and be relied upon. Being able to build these products requires a reliable infrastructure without limitations.

Shortly after the launch, we started coming up with new ideas and products to be built on the Sologenic Ecosystem but we were instantly blocked due to the lack of underlying features provided by the XRP Ledger such as smart contracts and issued currency escrows.

We came up with different ways to avoid them, but many other ideas were dropped as they would introduce a centralization piece to the project.

We looked at many different blockchains and we could not find a perfect solution for our problems. For example, Ethereum is a great blockchain, but its current underlying infrastructure is not yet natively scalable. The high transaction fees make it almost impossible to be widely adopted by DeFi systems. Some other blockchains are fast and cost-efficient but lack modern architectures such as smart contracts and some are thought to be centralized due to massive node requirements that only a handful of operators can afford.

We decided to create a new layer-1 blockchain, that not only helps the Sologenic Ecosystem grow but to help other DeFi developers and to be served as a core infrastructure for the future of decentralized applications.

This is how Coreum was born!

Coreum Design Principles:

• Highly efficient
• Fast
• Cost-effective
• Green (99% Lower Carbon Footprint)
• Support for Smart Contracts
• Built-in Decentralized Exchange
• Built for tokenization
• Fully decentralized
• Interoperable

Architecture proposal

As the blockchain industry grows faster every day, the amount of resources spent on developing this technology also grows at a rapid pace. Just like how software programming languages were primitive in the early days of computing, these days developers can use tools and abstractions to create very complex systems in a short period of time without worrying about, say, memory management.

The same concept goes with blockchain. In the early days, layer 1 blockchains had to be written from scratch to handling everything from storage, consensus, network and so on. Nowadays, modular technologies such as Tendermint Core make it possible for blockchain developers to focus on application logic rather than the basics of consensus protocols.

Coreum uses the Tendermint Core consensus protocol and the underlying IBC protocol, which integrates the Tendermint Byzantine fault tolerance (BFT) algorithm. In addition, the Coreum blockchain is built on top of a suite of applications called the Cosmos SDK.

Furthermore, the Coreum blockchain features the native capability to issue and mint fungible and non-fungible tokens, a built-in Decentralized Exchange (DEX) to trade on-chain issued tokens, Web Assembly (WASM) Smart Contracts as well as a Bridge system to empower interoperability across multiple chains.

Coreum is a fast layer 1 blockchain with dynamic block size and a transaction finality of 1.5 seconds.

Each block can handle a maximum of 10,000 transactions, which enables the network to process up to 6,666 transactions per second.

Validators

Securing the network and block validation is a key part of Coreum’s consensus mechanism.

When a transaction is submitted to the Coreum blockchain, validators are responsible to decide whether the transaction should be executed and be included in the current block.

Coreum relies on a federated committee of 9 validators at a time to conduct the validations. This committee is elected every 4 hours to make the consensus fully decentralized while having an extremely low transaction finality of 1.5 seconds.

By rotating the validators, the system gives a chance to all participants to take a seat in the committee and benefit from staking, delegating and governance. Validators are elected based on multiple factors such as their stake, behaviour and uptime.

Each validator must run a full node and participate in the consensus voting by signing each block with their private keys and in return be rewarded from transaction fees and validator rewards pool.

For a block to become final, a total of 6 validators must reach an agreement, making the validation quorum to be %66.66.

Transaction Fees

Unlike Ethereum and similar blockchains, Coreum uses a unique fee calculation model that is proposed to resolve the following problems:

1. High transaction fees with increased transaction volume
2. Low or no incentivization to validators with minimal network activity

Coreum has a number of different transaction types each with different complexity and cost of execution. Transactions can be either simple payments or complex smart contract executions. Smart contracts are weighted according to their size, complexity and execution time, while other types of transaction weights are mapped from an existing table with a predefined transaction complexity.

Coreum uses a unique model to calculate each transaction fee.

Whereas 0.5 is the lowest possible block complexity and 1 is the highest possible block complexity. 21,000 is the minimum unit of transaction weight (e.g. Payment).

This nonlinear model ensures the transaction fees are not exponentially multiplied when the network is processing a high number of transactions. In fact, the more transactions in a block, the lower the fees get.

For example, if a given block has only 1 transaction, the fee would be as low as 0.01 and if a block has 7,000 transactions, the fee would become even lower at 0.0527.

Each block will have a minimum of 0.01 and a maximum of 369 as transaction fees generated.

Validator Incentives

Validators play an important role in the Coreum ecosystem and as such are rewarded for securing the network.

60% of Block fees generated are distributed to the validators after each block is closed. Validators are also compensated for their work through the “Validator Rewards Pool” for every block that becomes final.

The ratio of reward from the validator pool is calculated as follows:

Whereas 0.5 is the minimum block complexity and 1 is the maximum block complexity.

Total Block Validation Reward = Block Fees + Pool Reward

Each validator is weighed according to their stake, uptime and consistency and is given a percentage of the total reward. If all validators have the same weight (rank), the reward is simply divided by 9 (total number of validators)

Validator Rewards Pool

We believe that validator incentivization is key to decentralization and a sustainable blockchain economy. Coreum incentivizes validators through a protocol-based rewarding system.

In the Genesis block, the reward pool is filled with %10 of the total supply which equates to 50,000,000 CORE tokens.

20% of fees generated from each block are put back into the validator rewards pool ensuring the pool remains afloat.

Burn Mechanism

In an attempt to create a deflationary economy, Coreum burns 20% of the total fees generated after each block is closed. This ensures the value of CORE tokens increases over time and results in a better validator incentivization and economy.

Staking

Staking gives validators and delegators a passive income by staking their CORE tokens and getting rewards.

In order for an entity to become a validator, it must run a full node and have a stake of at least 10,000 CORE tokens. Alternatively, users can become a delegator by lending CORE tokens to validators.

Delegating

Users who do not wish or do not have the means to become a validator can become delegators. In short, delegators can choose a validator and stake their CORE tokens by paying a commission to the validator. Delegators are expected to actively participate in governance. A delegator’s voting power is proportional to the size of their stake with the validator and if they don’t engage in community voting, their power is shifted to the validators.

Slashing/Retribution

As important as it is to incentivize the contribution of validators by rewarding them, it is important to punish them on certain occasions for bad behaviour, this is called slashing and retribution on the Coreum blockchain.

These punishments include disqualifying a validator from the committee board, capturing or burning some of the validator stakes or disabling a validator for a brief period of time.

Governance

Coreum’s Proof of Stake consensus mechanism allows for an on-chain governance ecosystem that enables stakeholders to vote on various decisions to upgrade and improve the chain over time. The Coreum community can decide on protocol changes and vote on new proposals to the chain. As some blockchains like Ethereum do not offer any sort of on-chain governance features, Coreum engages the community to participate in key decisions.

A range of different proposals can be submitted through on-chain governance and be put up for voting, the list is including but is not limited to: The deflation rate of the network, slashing, staking, delegating, number of validators, block times, grants and airdrops.

The following is a life cycle of proposals on the Coreum blockchain:

• Proposal submission: Stakeholders submit proposals with a fee. Once a proposal reaches a certain threshold, the proposal enters into a voting period.
• Voting: Participants can vote on proposals that reach minimum fee requirements and are active for voting.
• Inheritance and penalties: Delegators inherit their validator’s vote if they don’t vote themselves.
• Claiming deposit: Users that deposited on proposals can recover their deposits if the proposal was accepted OR if the proposal never entered the voting period.

Fungible and non-fungible token Issuance

Creating and minting tokens (Fungible and non-fungible tokens) on the Coreum blockchain is supported natively. This built-in functionality even allows issuers to customize their tokenized assets with optional features such as wallet whitelisting, burning and freezing for when it comes to the heavily regulated financial markets like Stock and ETFs.

Users can create their own tokens on Coreum by initiating a “create” token transaction with the specification of the token such as the address as to where the newly minted tokens will be transferred. Each token in Coreum is uniquely identifiable by a combination of its code and issuer.

This operation mints specified tokens instantly after the execution of the transaction. Depending on the configuration, a user can specify whether this token can have “mint”, “burn” functionality in the future. If yes, the user can mint new tokens using another transaction at any time. Alternatively, users can burn any amount of the issued token given the token is burnable. At the time of token issuance, the user can also specify whether holding (sending/receiving) and trading of this token can be allowed by anyone or should be restricted to users who are whitelisted. To authorize an account, the token issuer must initiate a transaction with the account of the requester as well as a “limit” amount (Limit indicates the maximum amount of this asset the whitelisted account is allowed to own).

For example, user A issues a new token called “ABC” and sets the configuration in a way that the newly minted tokens are transferred to user B. User A also restricts holding of this token by setting a config setting called “require_whitelisting”. After this transaction, user B instantly gets whitelisted and is delivered the “ABC” tokens. Now user C wants to receive “ABC” tokens from user B. They now must ask user A (creator of the token) to whitelist them to be able to hold the token. After whitelisting is done, user C can receive tokens from user B. This feature enables some token creators to comply with regulations that require KYC/AML.

The creator of the token (user A) can also freeze anyone “ABC” tokens held in their wallets (given that they set the configuration that allows them to do so when they minted the token). The same user (user A) can also set a global freeze to all holders of the “ABC” token at any time (again, given that they set this config when minting the token).

The token creator/owner (user A) can also change anyone’s limit at any time given the new limit is not smaller than the current user balance.

It is important to note that users can also issue tokens without the whitelisting feature. This creates tokens that can freely move around the blockchain, such as $USDT, or wrapped $BTC and $SOLO.

Token issuance is a built-in feature of the Coreum Blockchain, this means that minting tokens are not conducted through a smart contract, but rather natively on the Blockchain. Relatively, the token issuer can set a “transaction fee” and a “burn fee” in percentage so that for every movement (either through trading or sending/receiving tokens) this amount is deducted from the sender and either be burned or distributed to a chain according to the token settings. This is useful for modern NFT ecosystems that incentives existing holders of NFTs. Alternatively, the burn mechanism is on-chain and is beneficial for deflationary tokens such as $SOLO.

All issued assets (tokens) are tradable on Coreum’s built-in DEX. However, tokens that require “whitelisting” can only be traded by those who are authorized (whitelisted).

A user can obtain any token either by receiving it or trading it on the Blockchain. For both methods, the Blockchain must check whether the token requires whitelisting, and if so, whether the user is authorized to receive it through trading or not, or if authorization is not required, then the user can obtain these tokens.

Smart contract (WASM)

Ethereum has revolutionized the way code and smart contract execution takes place on the blockchain by pioneering the Ethereum Virtual Machine (EVM). While EVM was great at the time for smart contract execution, it has many limitations and lacks support for modern smart contracts.

We believe WebAssembly is a much greater engine for smart contract execution and has much greater scalability and support. It was developed by the W3C (World Wide Web Consortium) with support from companies such as Mozilla, Google and others.

While being portable, Turing-complete and efficient, developers can write their smart contracts in many different programming languages such as C/C++, C#, Rust, Javascript, Typescript, Haxe, and Kotlin.

WASM is fast, efficient, open and debuggable, platform-independent, memory-safe and is perfect for smart contract execution.

More info on WASM can be found here: https://webassembly.org/docs/high-level-goals/

Interoperability & bridges

With hundreds of Blockchains currently being used, Coreum deploys a bridge functionality to interoperate with various chains through the collateralized wrapping. This allows for other cryptocurrencies to flow into Coreum’s Ecosystem seamlessly.

The system of bridges will allow operators to create a gateway and allow for other assets from other Blockchains (Such as Ethereum and ERC20s) to be wrapped in the Coreum Blockchain. This brings a huge value to the users of the Coreum Blockchain by allowing them to trade such assets on the Decentralized Exchange and benefit from DeFi functionalities for a fraction of the main chain.

The bridge system is fully decentralized and its development is based on Cosmos SDK Gravity Bridge.

Decentralized exchange (DEX)

The Decentralized Exchange is a native, built-in exchange functionality within the Coreum blockchain. Although by using smart contracts it is possible to achieve swapping or trading, Coreum aims to build this feature directly in the blockchain core system to allow for a low-fee, secure and fast trading activity with support for all modern trading features.

The DEX can facilitate the trading of any issued asset as well as the CORE within its function. Users of the Blockchain can choose any asset as base and quote pairs and a market will automatically be created for such pairs. The dex features a full-featured synthetic order book, Market orders, Stop orders, Stop-Loss orders, Take-Profit orders, One-Cancel-Other (OCO) orders, and Trailing-Stop orders.

The DEX will also support advanced features such as “Fill or Kill”, “Immediate or Cancel”, “Good Til Time” and “Good Til Cancelled”.

The decentralized exchange will be based on the synthetic order book, allowing users to create orders on any possible pair. An order consists of a currency pair, direction, execution price, size and additional conditions for execution and closing.

When a user creates a new order, the system will find opposite orders not only in the pair that was chosen but also in other currency pairs, simulating the order executing chain after which the user’s order will be executed. For example, a user created an ETH-BTC buy order, but there are no opposite orders in this pair through which the user’s order can be executed, however, two suitable limit orders in ETH-CORE and in CORE-BTC pairs exist that will be executed delivering the user the volume they placed through the order with the price specified.

Decentralized Apps (dApps)

Since Coreum is using WebAssembly, it’s opening a new corridor for Decentralized App developers, and DeFi applications by allowing them to write smart contracts with their favourite programming language.

Coreum is taking the initiative to help and grow the WASM smart contract developers community and as such has 10% of the total supply of CORE tokens designated for grants to developers.

Use cases

Coreum provides developers and financial institutions with a complete essential infrastructure to build any DeFi applications. Coreum even incentives qualified developers to build intuitive dApps. Some of the proposed use-cases of Coreum blockchain are:

• Tokenized Securities (e.g. Sologenic.com)
• Liquidity Providers (LPs) and Market Makers
• Cross-border Payments, Banking and Remittance (e.g. Swift)
• Stablecoin Ecosystems (e.g. USDC, USDT, …)
• Lending Platforms (e.g. Blockfi, Nexo)
• Wrapped Cryptocurrencies (e.g. ERC20, BEP20)
• Decentralized Exchanges (e.g. Sologenic.org, UniSwap, …)
• Metaverse Applications (e.g. Decentraland, The Sandbox, Meta)
• NFT Marketplaces (e.g. Sologenic.org, Oopensea.io, …)
• Gaming and Play-to-earn apps (e.g. Axie Infinity)

Token Economy

Token Information

Allocation

Distribution and airdrop of $CORE for $SOLO holders

Coreum’s ecosystem and technology are built by the community for the community. In order to engage the community to participate in the new coreum ecosystem and proposed governance utilities, the CORE Team has proposed to conduct an airdrop equal to 20% of the total supply of $CORE tokens (100M) to the Sologenic community as the initial backer and the most important use-case of Coreum blockchain according to a 371-day distribution schedule.

The remaining 30% of the total supply will be airdropped to the $CORE holders gradually based on a 12 to the 36-month distribution plan. The timing will be decided by the community and $CORE holders through a voting mechanism available within the Coreum ecosystem.

When will the Snapshot be taken and the CORE tokens be distributed to $SOLO holders?

The Coreum airdrop will take place after capturing a snapshot of the account balances on the XRP Ledger, which established a TrustLine to the Sologenic Gateway.

The system will take one snapshot at a random day/time, each month for a full year.

A total of 100,000,000 $CORE will be distributed to those wallet addresses holding $SOLO at the time of each snapshot. A total of 13 snapshots will be taken within the next 371 days.

Initially, $CORE tokens will be distributed via an IOU on the XRP Ledger and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the $CORE. Alternatively, the tokens can remain and co-exist on the XRP Ledger and be traded on the Sologenic DEX.

Example: Let’s assume the final amount of $SOLO which are qualified for the $CORE airdrop at the time of each snapshot is as follows:

Snapshot 1: 10,000,000 $SOLO

Snapshot 2: 12,000,000 $SOLO

Snapshot 3: 15,000,000 $SOLO

….

Snapshot 13: 20,000,000 $SOLO

Then the number of $CORE Airdrops for the holders of $SOLO will be calculated and deposited as below:

CORE Airdrop Amount “Example”:

Snapshot 1: (100,000,000 ÷ 12) ÷ 10,000,000 ≈ 0.834 $CORE per each $SOLO holding on first month

Snapshot 2: (100,000,000 ÷ 12) ÷ 12,000,000 ≈ 0.70 $CORE per each $SOLO holding on second month

Snapshot 3: (100,000,000 ÷ 12) ÷ 15,000,000 ≈ 0.56 $CORE per each $SOLO holding on third month

….

Snapshot 13: (Remaining $CORE Airdrop Pool) ÷ 20,000,000 ≈ Amount of $CORE per each $SOLO holding for the last distribution

A total of 100,000,000 CORE will be distributed to the $SOLO holders within the next 371 days.

When/How will the CORE Airdrop be Distributed?

Each month’s airdrop will be distributed at the time of next month’s snapshot at a random date and time to the $SOLO holders.

Since all $SOLO holders automatically have a TrustLine with the Sologenic Gateway, they are NOT required to take any action to participate in the $CORE Airdrop.

At the time of the initial $CORE IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE tokens deposits. More information on this will be released in late January 2022.

At the time of the initial $CORE IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE tokens deposits. More information on this will be released in late January 2022.

Here is the schedule for Snapshot and distribution of the $CORE Airdrop for the $SOLO holders:

What if you hold your $SOLO on Centralized Exchanges?

$SOLO holders who hold their assets on exchanges will need to periodically check and see if their exchange is supporting the $CORE airdrop.

We will initially reach out to exchanges and ask them to distribute the $CORE tokens to their respective users. However, the $SOLO community may help in asking their favorite exchanges to consider participating in the airdrop.

When/How can I trade $CORE?

Initially, $CORE tokens will be distributed via an IOU on the XRP Ledger and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the $CORE.

The $CORE tokens can remain and co-exist on the XRP Ledger and may be traded on the Sologenic DEX, other XRPL DEX and Partipcating Centralized Exchanges after the first distribution is completed in February 2022.

At the time of the initial $CORE IOUs distribution on the XRPL, all participants must create a trustline with the Coreum gateway to be able to receive the $CORE tokens deposits. More information on this will be released in late January 2022.

How to stay tuned for further updates?

If you wish to receive more updates about the upcoming $CORE airdrop, we suggest you follow @CoreumOfficial and @realSologenic on Twitter.

Roadmap

Coreum Community

Coreum is a 100% open-source project created to enable a decentralized web and a better future of blockchain. Anyone can contribute!

We strongly invite all the open-sourced developers to join the CORE team and help build a better, more advanced and green blockchain.

The Coreum community is the home of all the open-source developers, token holders, validators, and members supporting the protocol.

All developers, validators and token holders will be participating in different voting vents within the future life of the Coreum blockchain. Some of the examples of voting events are:

Token Holders: To decide about the future time, date and amount of remaining CORE airdrops

Developers: To decide about the future amendments to the protocol when the changes are essential to make the Coreum blockchain ecosystem simply better.

Validators: To decide about the future fee schedules, number of validators in the federation and…

Open-Source Dev Contribution

Coreum is an open-source blockchain built on the Tendermint Core BFT and utilizes many of the Cosmos-like modules. Our community needs to grow, therefore our foundation incentives developers, companies and partners who develop and build the ecosystem and eventually Decentralized Apps. If you are interested to join please check this site:

https://join.coreum.com

Table of contents

Who is eligible to receive SOLO tokens airdrop?

What is a TrustLine?

When is the snapshot and distribution date & time?

How much SOLO will be airdropped?

What is the ratio of the airdrop for XRP and SOLO holdings?

Will I get SOLO airdrop if I have XRP and/or SOLO?

How does this airdrop affect the supply of SOLO?

How much SOLO will I get from this airdrop?

How to claim through SOLO Wallet (Sologenic DEX mobile app)?

How to claim through Sologenic.org DEX?

How to claim through XUMM Wallet?

How to claim through XRPTOOLKIT?

How to claim through Ledger Devices or D’CENT?

How to add Trustline manually and claim through my private wallet?

What if your XRP is on an exchange?

What if your SOLO is on an exchange?

How to support the Sologenic Ecosystem?

Interested in joining the core team?

Since the announcement of the 200M SOLO Airdrop, we have been thrilled at how the community welcomed our decision. We are now sure that we have done the right thing and the team’s decision to release the SOLO tokens to the community was great.

Although we have written details on how to claim the airdrop, the community still has many questions that we are addressing in this FAQ.

Q: Who is Eligible for the AirDrop?

A: Anyone who establishes a Trustline to the SOLO Gateway address and holds XRP and/or SOLO at the time of snapshot is eligible to receive the airdrop.

Q: What is a TrustLine?

A: A TrustLine is a feature from the XRP Ledger to allow currencies other than XRP to be issued and transacted between accounts. It also allows accounts to hold a “limit” of that currency they wish to hold.

Q: When is the snapshot and distribution date & time?

A: On Dec 24th, 2021 at 8:00 PM UTC we will take a snapshot of the XRP Ledger and scan the accounts with TrustLines to the SOLO Gateway. Those who have the TrustLine established will be on the list to receive the tokens on Jan 20th, 2022 at 8:00 PM UTC.

Q: How much SOLO will be airdropped?

A: A Total of 200,000,000 SOLO will be airdropped to the eligible community.

Q: What is the ratio of the airdrop for XRP and SOLO holdings?

A: 100,000,000 SOLO will be airdropped to the accounts (with an established TrustLines) who hold XRP and another 100,000,000 SOLO will be airdropped to accounts that hold SOLO.

Q: Will I get SOLO airdrop if I have XRP and/or SOLO?

A: if you have both XRP and SOLO, you will receive the airdrop for both accounts (depending on the balances of each account XRP or SOLO, the airdrop amount could be different). If you only have XRP at the time of the snapshot, you will only receive SOLO from the 100M pool that is designated for XRP. If you only have SOLO at the time of the snapshot (XRP account reserve also counts as a positive XRP balance) you will receive an airdrop from the pool that is designated to both.

Therefore, if you have both you will receive an airdrop from both pools, if you hold only of the currencies, you will receive an airdrop from that specific pool.

For example, take Alice, Bob, and Joe.

Alice has a balance of:

XRP: 5,000

SOLO: 15,000

Alice will get a portion of the 100M pool designated to SOLO AND a portion of the 100M designated for the XRP pool.

Bob has a balance of:

XRP: 5,000

SOLO: 0

Bob will only get a portion of the 100M pool designated to XRP

Joe has a balance of:

XRP: 12

SOLO: 5,000

Since it is not possible to hold a TrustLine with a balance of 0 to the SOLO Gateway, Joe will receive a portion of the 100M pool designated to SOLO AND a portion of the 100M designated for the XRP pool (with 12 XRP as his contribution amount).

Q: How does this airdrop affect the supply of SOLO?

A: Around 2 years ago 400,000,000 SOLO were created to be used within the Sologenic Ecosystem. Of this 400,000,000, (Around 40,000 has been burned through fees) over half were locked to be used for a potential airdrop to expand the community. This means, the team is not minting new tokens (Which is not possible due to the fact the Sologenic Gateway has burnt its address and is not technically able to mint new tokens) and is in fact not increasing its supply causing inflation.

Q: How much SOLO will I get from this airdrop?

A: Depending on the number of accounts that claim the airdrop, the 200M SOLO will be distributed according to the total claimed amount.

Let’s assume the final amount of XRP and SOLO which are qualified for the SOLO airdrop at the time of snapshot is as follows:

SOLO: 20,000,000

XRP: 500,000,000

Then the number of SOLO Airdrops for the holders of XRP and SOLO will be calculated and distributed as below:

SOLO Airdrop Amount:

(200,000,000 ÷ 2) ÷ 20,000,000 = 5 SOLO per each SOLO Holding

XRP Airdrop Amount:

(200,000,000 ÷ 2) ÷ 500,000,000 = 0.2 SOLO per each XRP Holding

Q: How to claim through SOLO Wallet (SOLO DEX & Wallet mobile app)?

A: SOLO Wallet (SOLO DEX & Wallet mobile app) is a full-featured XRPL wallet with built-in DEX provided by the Sologenic Core Team. You can use this app to securely store your SOLO, XRP, or other issued currencies on the XRP Ledger.

1- Download the app for your device

Appstore: https://apps.apple.com/ca/app/solo-wallet/id1497396455

Google Play Store: https://play.google.com/store/apps/details?id=com.sologenicwallet

2- Follow the on-screen instructions and accept the terms and conditions

3- Create a new wallet (if you already have one, skip to step 11)

4- Choose a name for the new wallet and pick a strong password (This password is required for signing transactions)

5- Write down your 12-word recovery words in a safe place offline. (DO NOT SHARE this with anyone)

6- Confirm your recovery phrase by selecting them in the order they were shown on the last screen.

7- After finishing your wallet is now set-up

8- At this stage, you must fund your wallet with at least 10 XRP to activate it

9- You can copy your address or view the QR code to send XRP from another wallet. Please note you do not have a destination tag with this wallet.

10- After sending the XRP, your wallet must show a positive balance which indicates that your account is now active. To activate the SOLO currency on the wallet, click on “SOLO” (at this stage it says it is not activated)

11- Click activate and provide your account password. After a few seconds, you will see a pop-up that your SOLO Wallet has been activated.

Click Done and go to the main wallet screen.

You can now see your SOLO Wallet is activated and the “NOT ACTIVATED” is now removed.

You can now send, receive buy and sell both SOLO and XRP using this wallet. To trade, simply click on the “DEX” tab and browse the markets available for the XRPL DEX. You can add your custom pairs and add them to your favorites for future trading use.

Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.

After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.

Q: How to claim through Sologenic.org DEX?

A: Sologenic.org is a Decentralized Exchange built on top of the XRP Ledger that allows users to connect their wallets (Sologenic DEX wallet/SOLO Wallet, XUMM, Ledger Device, D’CENT) and trade on the DEX or conduct basic wallet transactions, such as adding a TrustLine, changing account settings, etc.

1- First, go to Sologenic.org and click “Access DEX”

2- Next, click the “Connect Wallet” from the menu bar and choose your preferred wallet. If you chose SOLO Wallet or XUMM, you should have already set up your account with those to get a notification or scan the QR Code. For hardware devices such as the Ledger Device and D’CENT, please connect them to your computer and follow on-screen instructions.

3- Once your signing wallet is connected, head to the “WALLET” tab from the menu bar. You will notice that SOLO is already in the list of currencies, but it says “Inactive” as its status. Click the “Activate” button on the right side of the box.

4- You can confirm that you are adding the SOLO Currency to your wallet, click “Next”.

5- Submit the transaction.

6- At this point, you must sign this transaction with the wallet you connected to earlier. Please follow the on-screen instructions to get the transaction signed.

7- Once the transaction is signed, dispatched and validated you will notice that the status for “SOLO” has changed to “Active”. You can now send and receive SOLO to your wallet.

You can now trade on the DEX with any currency that exists on the XRPL.

Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.

After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.

Q: How to claim through XUMM Wallet?

A: XUMM is a full-featured XRPL Wallet developed by XRPL Labs. You can also connect the XUMM app to your Sologenic.org account and use the DEX on your web browser.

To add a TrustLine for SOLO using the XUMM app, simply download the app from XUMM.

1- Follow the on-screen instructions to create or import your wallet in the XUMM app. Once that is done, you need to fund your account with at least 10 XRP. After funding your account, click the “+” Add” button on the middle-right side of the screen.

2- Choose, “Sologenic” from the list of issuers.

3- Click “SOLO” from the left menu and click “Sign to add token”

4- Confirm the transaction details and “Slide” the button to sign and submit the transaction.

5- Now you can confirm SOLO is added and you can receive and send SOLO to this account.

Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.

After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.

Q: How to claim through XRPTOOLKIT?

A: XRPTOOLKIT is a full-featured web-based toolkit for many operations on the XRP Ledger. You can connect and sign transactions through hardware devices such as the Ledger Device, D’CENT, Cobo Vault, and XUMM.

1- Head to the https://www.xrptoolkit.com website, click “Get Started” and connect your wallet.

Once your wallet is connected you will be redirected to the “Accounts” tab. Here you can see the assets your currently hold in your wallet. Click “+ Add Asset”

2- From the “Asset” list, click “SOLO (Sologenic)” and click “add”.

3- Using your wallet, sign the transaction.

4- After you have signed the transaction, you can see the SOLO as a Trusted Assed in the list with “Active” status.

Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.

After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.

Q: How to claim through Ledger Devices (Nano X & S) or D’CENT?

A: Please check the instruction on how to claim using the Sologenic.org DEX. You will have to connect your hardware wallet to sign transactions. Once you connect your hardware wallet to Sologenic.org, follow the on-screen instructions to sign transactions and add SOLO currency to your account.

Alternatively, you can use the XRPTOOLKIT website to also connect your hardware devices and sign transactions.

Q: How to add Trustline manually and claim through my private wallet?

A: You can simply create a TrusLine to the Sologenic gateway with the following information:

Sologenic Gateway (Issuer): rsoLo2S1kiGeCcn6hCUXVrCpGMWLrRrLZz

SOLO Currency Code: 534F4C4F00000000000000000000000000000000

Limit: 400,000,000

Q: What if your XRP is on an exchange?

A: If you have your XRP on a centralized exchange (e.g. Binance) you should check with your exchange to see if they support the SOLO airdrop. The SOLO Core Team is also reaching out to exchanges to inform them about this upcoming airdrop but whether they accept the airdrop or not is up to them and you (If too many users ask their exchange, they may contribute due to popular demand).

Alternatively, you can always take custody of your assets in your own personal wallets such as the SOLO Wallet, XUMM, or Ledger Device. This way, you can be sure to claim the airdrop.

Q: What if your SOLO is on an exchange?

A: If you have your SOLO on a centralized exchange (e.g. Probit) you should check with your exchange to see if they support the SOLO airdrop. The SOLO Core Team is also reaching out to exchanges to inform them about this upcoming airdrop but whether they accept the airdrop or not is up to them and you (If too many users ask their exchange, they may contribute due to popular demand).

Alternatively, you can always take custody of your assets in your own personal wallets such as the SOLO Wallet, XUMM, or Ledger Device. This way, you can be sure to claim the airdrop.

Q: How to support the Sologenic Ecosystem?

A: We are building an ecosystem that is going to disrupt trading assets and by having you by our side, our community will be stronger and more powerful.

Ways to contribute:
* Provide feedback on DEX and Wallet apps
* Find bugs on DEX and Wallet apps
* Contribute to the code (https://github.com/sologenic)
* Create a local community in your region
* Spread the word and donate to the cause

Q: Interested in joining the core team?

A: If you are a developer with a passion to develop on the XRPL, please send us an email to info@sologenic.org. SOLO Core team is young, energetic, vibrant, and multi-cultural. Let’s talk!

In this blog post, we outline the upcoming plans and additional utility proposals by the SOLO Core Team and the details of the upcoming SOLO Airdrop for SOLO and XRP holders.

To start with, it is important to understand the distinction between Sologenic.org (SOLO Core Team) and Sologenic.com (Manticore Securities AS).

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)

Around 2 years ago, the SOLO Core Team issued 400,000,000 SOLO Tokens to be used across the “Sologenic Ecosystem”. 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.

Sologenic.com (Manticore Securities AS)

Sologenic.com (Manticore Securities AS) is a Public Limited Company, registered in the EU with the aim of obtaining MiFID ll Investment Firm license to tokenize securities such as stocks and ETF on the XRP Ledger using the Sologenic Ecosystem. SOLO Tokens play an integral part in when the platform is fully operational. Currently, Manticore Securities AS is in the process of obtaining the license and has developed a test environment that simulates the tokenization of securities on the XRPL.

We consider Sologenic.com (Manticore Securities AS) as the one of largest use-cases of the Sologenic Ecosystem. The potential this brings to the ecosystem is something we think can revolutionize the future of securities trading. More information can be found on www.sologenic.com

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.

We will announce how the voting process will be conducted in the upcoming posts.

SOLO for minting, listing, and featuring NFTs on the upcoming Sologenic NFT marketplace

Last week, we 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.

* The fees for these activities will be published in a future post closer to the launch of the marketplace, but in a nutshell, the token will be the key to listing NFTs on the platform.

This takes us to:

SOLO Token Airdrop

In order to engage the community to participate in the ecosystem and proposed governance utilities, the SOLO Core Team has decided to unlock 200,000,000 SOLO (Community SCF, and Expansion SEF) and conduct an airdrop to the XRP and SOLO communities.

How Will Airdrop Be Distributed?

The airdrop will take place after capturing a snapshot of the account balances on the XRP Ledger, which established a TrustLine to the Sologenic Gateway. The 200,000,000 SOLO will be distributed to those accounts that hold SOLO and XRP at the time of the snapshot.

The following ratio will be applied to the distribution:

XRP holders*: 50%

SOLO holders: 50%

* Please note that a TrustLine to the Sologenic Gateway must be in place for the account to be eligible for the airdrop.

Example: Let’s assume the final amount of XRP and SOLO which are qualified for the SOLO airdrop at the time of snapshot is as follows:

SOLO: 20,000,000

XRP: 500,000,000

Then the number of SOLO Airdrops for the holders of XRP and SOLO will be calculated and deposited as below:

SOLO Airdrop Amount:

(200,000,000 ÷ 2) ÷ 20,000,000 = 5 SOLO per each SOLO Holding

XRP Airdrop Amount:

(200,000,000 ÷ 2) ÷ 500,000,000 = 0.2 SOLO per each XRP Holding

When will the Snapshot be taken?

Snapshot Date/Time: Dec 24th, 2021 8:00 PM UTC

Sologenic Gateway (Issuer): rsoLo2S1kiGeCcn6hCUXVrCpGMWLrRrLZz

SOLO Currency Code: 534F4C4F00000000000000000000000000000000 Limit: 400,000,000

When will the SOLO Airdrop be Distributed?

Distribution Date/Time: Jan 20th, 2022 8:00 PM UTC

What if you hold your XRP & SOLO on a Decentralized Wallet?

For SOLO holders who take custody of their assets, no action is needed as these accounts already have a TrustLine established. We are in talks with the exchanges who support the SOLO Token to consider the airdrop distribution amongst SOLO holders.

For XRP holders who take custody of their assets, a TrustLine to the Sologenic gateway is required. This can be conducted using the SOLO Wallet app or the XUMM app by adding SOLO as a currency to your existing account.

What if you hold your XRP & SOLO on Centralized Exchanges?

XRP holders who hold their assets on exchanges will need to periodically check and see if their exchange is supporting the airdrop.

We will initially reach out to exchanges and ask them to distribute the SOLO tokens to their respective users. However, the XRP and SOLO community may help in asking their favorite exchanges to consider participating in the airdrop.

We hope that by distributing the locked SOLO to the community, we will have more user engagement on the Sologenic DEX as well as the NFT marketplace which brings a huge value to the XRP Ledger Ecosystem.

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.

TALLINN, Estonia, Feb. 06, 2020 (GLOBE NEWSWIRE) — CoinField has released the very first decentralized wallet app for SOLO, XRP, and Tokenized Assets to support the Sologenic ecosystem.

Sologenic allows users to trade any cryptocurrencies against 30,000 tokenized Stocks & ETFs from 25+ stock exchanges across the globe.

SOLO is the native token of Sologenic, a platform built on the XRP ledger with the sole mission of merging crypto asset markets with traditional finance markets. This new ecosystem facilitates investing and trading of on-demand tokenized assets, including Stocks and ETFs on top of the XRP Ledger.

The decentralized wallet app will allow users to add, access, and manage multiple wallets, view live market prices, review their recent transactions and HODL, and transfer all their digital assets from a single XRP wallet address. Sologenic will be adding decentralized exchange (DEX) functionally to this app in Q2 allowing users to trade securely while they keep their own private keys.

When building the app for SOLO, the SOLO core team focused on Security, UI/UX, Transparency, decentralization, and ease of use.

“Security, ease of use, availability, speed, and decentralization were amongst our top goals when developing the SOLO Wallet apps. The SOLO core team will continue working on the app and will release new updates such as advanced transactions, notifications and Decentralized Exchange (DEX) so users can securely trade digital assets while they keep their own private keys.” Said Reza Bashash, Sologenic Technical Lead

The app is available to download globally for Mobile and Desktop via the Apple Store and Google Play. Download the desktop version for Windows and Mac.

About Sologenic:
Sologenic is introducing a sophisticated ecosystem that facilitates users with investing, trading, and on-demand tokenization of assets such as stocks, ETFs, and fiat on top of the XRP Ledger. Learn more on https://www.sologenic.com

About CoinField:
CoinField is a regulated European based fiat-to-crypto exchange supervised by Financial Intelligence Unit (FIU) under the licence numbers FVR001049 & FRK000941. The platform supports the top six fiat currencies and a large number of digital assets in 193 countries. Learn more on https://www.coinfield.com.

Press & Media Inquiries
Darren Amner
darren.amner@coinfield.com