- How can I activate my SOLO Wallet?
- How to sign a transaction using SOLO DEX App
- Can I reset my wallet password on the app if I lost/forget it?
- What is a TrustLine?
- How to establish a Trustline with Sologenic
- What permissions does the SOLO DEX ask from your OS (Android / iPhone) and why?
- How to find the Transaction ID of a transaction?
- Why if I have SOLO, I can’t receive SOLO?
- How do we add another asset, a token, to an account?
- Why does the XRP price in the SOLO DEX differ from other sources?
- What is (and how much is) the XRP ledger account reserve?
How can I activate my SOLO Wallet?
Once you have created your SOLO Wallet, in order to activate it, you need to fund it with the current XRP minimum reserve which at the moment is 10XRP.
This process can be done by transferring XRP tokens from a private Wallet or exchange into your SOLO Wallet. When you click on “Activate” on the Assets window, you will be able to see a QR code and address to receive assets.
Once you receive the tokens, your XRP Wallet will be automatically activated and you can proceed to activate the SOLO Wallet by clicking on the asset and pressing the “Activate” button.
How to sign a transaction using the SOLO DEX App?
When you make a transaction in the DEX and authorization from your Wallet is needed, you will receive a push notification to sign the transaction on the SOLO DEX App directly on your mobile device.
Can I reset my wallet password on the app if I lost/forgot it?
The SOLO DEX is a decentralized ecosystem, which means, no third party data is stored. If you happen to lose your password, you will have to remove the wallet, and add it again using the 12 keywords you were provided with when you created your account on the first place.
What is a TrustLine?
A TrustLine is a feature from the XRP Ledger that allows other currencies (different to XRP) to be issued and exchanged between accounts. It also allows accounts to set up a limit of that currency they wish to hold.
How to establish a Trustline with Sologenic
Sologenic Ecosystem uses the XRP Ledger Blockchain to conduct tokenizations and thus allowing the tokenized assets to be traded/exchanged on the XRP Ledger Built-in Decentralized Exchange. There are two types of Trustlines in the XRP Ledger, a regular one-way Trustline, and an Authorized two-way Trustline. Sologenic, requires an Authorized Trustline to allow assets to be withdrawn from the platform.
To withdraw your tokenized assets from Sologenic, you need to setup a Trustline from your personal wallet to Sologenic (Issuer) and request Sologenic gateway to Authorize this Trustline once it is established.
Follow the instructions on the following link to set up a Trustline to Sologenic for a particular asset.
What permissions does the SOLO DEX ask from your OS (Android / iPhone) and why?
For a better user experience, the SOLO DEX app will request some permissions from your phone. Keep in mind, Sologenic, under any circumstances, collects personal information.
Having said that, the SOLO DEX app for Android and iOS needs the following components for optimal functioning:
- Phone storage (to store the encrypted database with your XRPL accounts, SOLO address book, etc).
- Internet connection (to connect with the XRPL nodes).
- Your camera (if you need to scan a QR code on the SOLO DEX Desktop to sign transactions using your wallet).
- Push notifications (opt in)
How to find the transaction ID of a transaction?
To find the transaction ID of any transaction, simply go to the transaction history located on the right side of the Wallet page if you are using Desktop, and under “My Trade History” inside the DEX window if you are using the SOLO DEX App.
Click on any transaction, and a window will pop up redirecting you to bithomp.com. Here you will be able to see the transaction ID and other details such as the XRPL fee.
Why if I have SOLO, I can’t receive SOLO?
The most coommon issues when facing this situation is that your Trustline has a set limit of zero or has not been activated.
To check and modify the limit of your SOLO Trustline, go to the Assets section on your Wallet and click on the “Edit” button, and modify the amount freely.
In case you have not activated your SOLO account it will show as “Not Activated” on the Assets window. At this point you need to make a Trustset transaction. The amount depends on the XRP Ledger fee at the moment. However, to make it easier for users of the SOLO DEX app, you can simply click on activate, and as long as you have more than 14 XRP your SOLO Wallet has been activated.
How do we add another asset (token) to an account?
In order to add new assets, and create a new order, you need a minimum amount of XRP in the reserve as well as 10 XRP to activate the wallet.
- On the Wallet window, click on the “Add Asset” button.
- Choose assets from Sologenic, known issuers, and custom ones.
- Using the dropdown menu select the issuer and the currency, and once you click next you can review all the information and confirm the transaction.
What is (and how much is) the XRP ledger account reserve?
The XRP ledger account reserve is the minimum quantity of XRP you must hold in your account for your Wallet to be active. At the moment it’s 10 XRP.