Sologenic to Airdrop $250M+ to XRP Holders With the Launch of a New Cost-Efficient NFT Marketplace

 Sologenic Development Foundation

The new marketplace is constructed on the XRP ledger, which addresses the present NFT marketplaces on the Ethereum blockchain's high transaction costs and slowness.

TALLINN, Estonia (GLOBE NEWSWIRE) — November 11, 2021 (GLOBE NEWSWIRE) — The Sologenic Development Foundation has announced their intention to build a new NFT marketplace on the XRP ledger, which will benefit users by lowering transaction costs for minting, bidding, and trading NFTs on the existing Sologenic DEX.

The Sologenic Development Foundation has decided to unlock 200,000,000 SOLO and offer an airdrop to XRP and/or SOLO holders internationally in order to involve the community in the ecosystem and proposed governance utilities. The spot price of SOLO is $1.44 USD at the time of this press release, making this Airdrop one of the largest ever delivered in the crypto industry. This airdrop will be sourced from the tokens that are currently locked in the SOLO Community Fund (SCF), and SOLO Expansion Fund (SEF) which were designed to build and expand the SOLO community when the ecosystem was launched in early 2020.
On December 24th, 2021 at 20:00 UTC, a snapshot will be taken from any XRP and/or SOLO wallets that have established a Trustline with the Sologenic oracle. To claim the airdrops, users can simply hold their assets on the supporting centralized exchanges or construct a Trustline directly from their private wallets.
With the low transaction cost of around $0.000005, the Sologenic DEX has gained a lot of popularity among the XRP and SOLO community to trade various crypto assets and even fiat through different gateways that issue stable coins on the XRP ledger such as Bitstamp and Gatehub. At the time of this press release, the Sologenic DEX has over 10M page views monthly with over 350K transactions going through the DEX on a weekly basis.

The Sologenic DEX is a cutting-edge decentralized trading platform that lets users to trade (peer-to-peer) a variety of crypto and forthcoming tokenized assets like stocks and ETFs while maintaining control over their private keys, ensuring maximum security and trust.

The DEX gives users access to all of the advantages of a good centralized exchange while allowing them to properly manage and keep custody of their own assets. SOLO Wallet, Ledger Devices, D'cent, XUMM, and other wallet integrations are supported by the Sologenic DEX. The following are some of the characteristics: 

  • Fees as low as $0.000005 are available.
  • Widgets in the trading terminal that are dynamic and totally adjustable
  • Professional charting software with 1 minute candles and live order books
  • Removes entry barriers for a private, safe, and secure trading experience that is not governed by a single body.
  • A transaction's finality is measured in seconds.
  • Other wallets (Ledger, XUMM, and...) are supported.
  • Support for a variety of languages, including English, Spanish, and many more
  • Themes of Light and Dark

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

By burning SOLO Tokens, users will be able to mint and list their NFTs on the future Sologenic NFT marketplace. Using SOLO as a payment method via a bidding system will also allow for the inclusion of an NFT. 100% of the SOLO Tokens collected as fees will be instantaneously burnt.
"The SOLO core team feel the excitement within the crypto community for the launch of the upcoming NFT marketplace on the Sologenic DEX and we believe that this new marketplace is going to solve the current barriers and problems such as extremely high cost of transaction and slow networks to mint, bid or trade NFTs." - Reza Bashash - Tech Lead at Sologenic Development Foundation

About Sologenic (Sologenic Development Foundation)

 The SOLO Core Team is a self-contained group of developers dedicated to the success of the Sologenic Ecosystem. It is made up of developers who are working on a variety of open-source projects and use cases centered around XRP and SOLO. The SOLO Core Team distributed 400,000,000 SOLO Tokens to be used across the "Sologenic Ecosystem" about two years ago. (Manticore Securities AS) (Manticore Securities AS) is an EU-registered Public Limited Company with the goal of getting a MiFID ll Investment Firm license to tokenize securities such as equities and ETFs on the XRP Ledger utilizing the Sologenic Ecosystem. When the platform is fully operating, SOLO Tokens will play an important role. Manticore Securities AS is now pursuing the license and has created a test environment that mimics the tokenization of securities on the XRPL.

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