Sologenic, the company that builds on the XRP Ledger, has announced that XRP holders will receive $100 million in single tokens in an airdrop valued at more than $500 million. This article discusses their advertisement and explains how to claim free $SOLO tokens.
What is sulogenic?
Sologenic says its mission is to “become the world’s most influential blockchain-based project by bridging the gap between traditional financial markets and cryptocurrency.”
The Sologenic team also says they’re building the Sologenic ecosystem on the open source public XRP Ledger platform (XRPL) — created in 2012 by David Schwartz, Jed McCaleb and Arthur Britto, and whose native currency is XRP — since it provides features they need, such as speed High, high security and transparency.
What is the only $ token?
Here’s how Sologenic$ SOLO describes:
“Sologenic publishes individual coins for market making and liquidity provision. Individual coins are issued on the XRP Ledger allowing for liquidity to be transferred almost instantly.
“The ecosystem aims to eliminate entry barriers for individual and institutional crypto investors, allowing them to trade in non-blockchain asset classes, such as stocks, ETFs, and commodities, using a single cryptocurrency – SOLO.
“To put it simply, the coins will enable people around the world to buy and sell shares in their favorite companies using SOLO, without the need for traditional brokerages.
“SOLO will be available for trading on Sologenic’s DEX, and other major global exchanges. Total supply available from 400,000,000 singles.“
Airdrops from Sologenic
On December 14, Sologenic issued a press release announcing the details of the upcoming $200 million airdrop for holders of SOLO tokens and/or XRP dollars.
The press release began by instructing that on November 11, the Sologenic Development Foundation announced “its decision to develop a completely decentralized NFT marketplace on the XRP ledger, in order to benefit users with extremely low transaction costs for minting, bidding and trading NFTs on the existing Sologenic DEX.”
She went on to say that “in order to engage the community in participating in the proposed ecosystem and governance facilities, there is a certain amount of 200 m solo It will open as part of an airdrop to XRP and/or SOLO holders around the world.” At the time of writing (08:00 AM UTC December 19), $SOLO is trading at around $5.34 (eg on Bitforex), making this airdrop “one of the largest airdrops ever distributed in the crypto space.”
The airdrop will be obtained “from tokens that are currently locked in a Single Community Fund (SCF), and a Single Expansion Fund (SEF) that was designed to build and expand a Single Community Fund when the ecosystem was launched in early 2020.”
The snapshot “is scheduled to be taken on December 24, 2021 at 20:00 UTC from all XRP and/or SOLO wallets that have established Trustline with a Sologenic oracle.” Users can “hold their assets on centralized exchanges that support airdrops or create a Trustline directly from their own wallets to claim them.”
Based on the information provided in an article published on December 14 by a popular Croatian crypto investor and XRP educator (Tweet embed On Twitter), the Solo Airdrop will take place in US Dollars at 20:00 UTC on January 20, 2022. The Airdrop volume is $200 million in Solo tokens (100 million for $SOLO holders and 100 million for XRP $holders).
His article contains step-by-step guides (in graphic form) for claiming this airdrop.
The opinions and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only, and do not constitute financial, investment or other advice. Investing or trading in crypto assets involves the risk of financial loss.
Featured image by “vjkombajn” via Pixabay