Binance Archives - Sologenic Blog

Sologenic Partners with Allbridge for a Cross-Chain Bridge Between the XRPL and BSC for SOLO

A partnership between Allbridge and Sologenic allows the flow of SOLO tokens into the BNB Chain and unlocks limitless DeFi opportunities.

Following a series of upgrades and new components being implemented to the Sologenic ecosystem, a cross-chain bridge has been integrated between the XRP Ledger and the BNB Chain for the flow of SOLO — Sologenic’s ecosystem token through a partnership with Allbridge.

In late Jan 2022, the Sologenic and Binance teams agreed upon the issuance of SOLO tokens on the BSC networks allowing all XRP holders on the Binance exchange to receive their SOLO airdrops on the platform. The new cross-chain bridge integration will enable SOLO holders on Binance to move their assets from BSC directly to the XRP Ledger. In addition, it will unlock limitless DeFi opportunities such as Lending, Borrowing, Staking, and Token Swaps for the SOLO holders.

The partnership sets the path for bridging more popular assets to the XRPL by connecting it to a large variety of EVM and non-EVM compatible chains, such as Solana, Terra, Protocol, Fantom, and more. Along with the integration, Allbridge is implementing the support of the SOLO Wallet for the convenience of SOLO DEX users.

Visit Sologenic to interact with the ecosystem and use the Allbridge platform to transfer SOLO between networks.

Cross-Chain bridge between XRPL and other Blockchains

On Jan 26th, 2022, Ripple announced a strategic partnership with the Allbridge, a cross-chain bridge with more than $500 million in total value locked, in order to support token swap between the XRP Ledger and multiple other blockchains. Considering the Sologenic DEX is the most popular decentralized exchange on the XRPL, the SOLO team was connected with Allbridge to work on the integration of these new assets onto the trading DEX.

Upon integration, users will be able to swap digital assets between the XRPL and other popular blockchains such as Ethereum, Avalanche, Solana, Terra, Polygon, Fantom, BNB Chain, Celo, Aurora, Harmony, NEAR Protocol, and Fuse.

Consult the following guides to learn how to transfer SOLO to XRPL and back.

About Sologenic

Sologenic is disrupting the asset trading industry by offering: Tokenized Securities, Crypto Assets and NFT’s in a decentralized ecosystem. The Sologenic Development Foundation is formed by independent developers who maintain, build and expand the Sologenic ecosystem.

About Allbridge

Allbridge is a simple, modern, and reliable way to transfer assets between different networks. It is a bridge between both EVM and non-EVM compatible blockchains that aims to cover L2 solutions and NFT transfers in the future.

Allbridge’s mission is to make the blockchain world borderless by providing a tool to freely move assets between various blockchains.

Vladyslav Ankvin
Sologenic Development Foundation
Contact: [email protected]

Sologenic (SOLO) Airdrop Ratio for XRP and SOLO holders — Official Report

We’re thrilled with the amount of participation and exchange support for the Sologenic (SOLO) airdrop. Almost 340,000 Trustlines were established to the Sologenic’s gateway on the XRPL and more than 28 top centralized exchanges have supported the airdrop.

The snapshot was successfully completed at block number “68552402” at 8:00:01 pm UTC on December 24th, 2021 according to the schedule announced.

The Compliance team at Sologenic has reviewed the top 1000 wallet addresses with the most $XRP holdings to ensure that the $SOLO Airdrop goes to the actual $XRP holders.

After our team’s review, we’ve found out that some wallet addresses are believed to be owned by certain exchanges that did not announce the Airdrop support; however, they’ve created a trustline to claim the Airdrop. As a result, we’re glad to inform you that we’ve excluded the following wallet addresses from the Airdrop:

This will bring us to the following final XRP and SOLO holdings that successfully participated in the $SOLO Airdrop:

Total XRP holdings participated: 22,439,948,543.12233
Total SOLO holdings participated: 80,512,388.19228289

The final Airdrop ratios are as follows:

0.004456338205 SOLO per each XRP participated
1.2420448858 SOLO per each SOLO participated

The formulas used to calculate the airdrop ratio are as follow:

XRP Airdrop Amount:

(200,000,000 ÷ 2) ÷ 22,439,948,543.12233 = 0.004456338205 SOLO per each XRP Holding

SOLO Airdrop Amount:

(200,000,000 ÷ 2) ÷ 80,512,388.19228289 = 1.2420448858 SOLO per each SOLO Holding

When will the SOLO Airdrop be distributed?

The $SOLO airdrop distribution will start on Jan 20th, 2022 at 8:00 PM UTC. We will unlock the 200M SOLO and the system will process the transfers.

If you hold your XRP and/or SOLO assets on decentralized wallets, please allow some time for the deposits to appear on your wallets.

If you hold your XRP and/or SOLO assets on a centralized exchange, please get in touch with your exchange after Jan 20th to make sure the airdrop will be distributed by the exchanges in a timely manner.

What if you held your XRP in a private wallet?

You will need to make sure that you have the following trustline set to receive your airdrop.

Please note that if you had bought SOLO through DEX, you will still need to create a trustline to be able to receive your SOLO when distribution starts.

Sologenic Gateway Trustline info:

currency: 534F4C4F00000000000000000000000000000000
issuer: rsoLo2S1kiGeCcn6hCUXVrCpGMWLrRrLZz
limit: 400000000

What if you held your XRP on Binance?

If you held your XRP on Binance at the time of the snapshot, you will receive your SOLO airdrop in your Binance.com account. Please note that the SOLO in Binance will initially be withdrawable to the Binance Smart Chain. The SOLO team is creating a wrapped SOLO using the BEP20 standard on BSC which allows users to trade SOLO on the Binance DEX as well as be able to use SOLO in DeFi applications. More info about SOLO and Binance Smart Chain to be announced soon.