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Sologenic

SOLO

Price
$0.14
12/10/2022, 5:00:33 AM

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Market

Market stats

Market cap

$55.2M

Volume (24h)

$687,050.07

Circulating supply

399.9M SOLO

All time high

$6.63

Price change (1h)

+0.52%

Price change (24h)

-4.5%

Price change (7d)

-15.28%

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Sologenic is on the decline this week.

The price of Sologenic has fallen by 15.28% in the past 7 days. The price declined by 4.50% in the last 24 hours. In just the past hour, the price grew by 0.52%. The current price is $0.14 per SOLO. Sologenic is 97.92% below the all time high of $6.63.

The current circulating supply is 399,947,699 SOLO.

About

What Is Sologenic (SOLO)?

Sologenic (SOLO)is an ecosystem that aims to facilitate the process of a low-cost, on-demand, and secure tokenization of non-blockchain assets on the XRP Ledger. Tokenization involves the creation of digital tokens on a distributed ledger or blockchain, which represent either physical or digital assets. The tokenized assets are tradable against SOLO (Sologenic’s native coin) and XRP. The XRP Ledger is a cryptographic ledger that is decentralized and powered by peer-to-peer network servers. The Sologenic ecosystem seeks to bridge blockchain and other asset classes such as stocks and ETFs. The platform envisions having the key businesses of on-demand tokenization, trading non-blockchain assets, staking rewards, cryptocurrency cards, and community participation.

According to the Sologenic whitepaper, there are several challenges in the traditional asset trading industry:

  1. Regional economic markets: The regional nature of economic markets does not support value exchange on a cross-border scale. In order to make direct investments in a foreign market, the investor must invest a particular capital amount in qualifying for direct access to certain assets or must be accredited.  

  2. Limited access to global assets: In many economies, people cannot engage in global commerce or access financial services to participate in capital markets. The major factors contributing to this outcome are financial literacy, high intermediary cost, geopolitical uncertainty, lack of trust in financial institutions, and low income levels. 

  3. No technology for cross-asset trading:The existing trading systems are limited to a specific set of assets, such as ETFs and stocks. These trading platforms lack the necessary technology for facilitating cross-asset trading. A trader cannot facilitate exchange between cryptocurrencies and other traditional financial instruments.

As a solution to the problems mentioned above, the Sologenic ecosystem aims to reduce the friction, complexity, and cost of traditional trading and transfer of assets by creating a simple, fast, and secure infrastructure.  

Sologenic seeks to apply blockchain benefits and features to existing financial instruments. To achieve this, Sologenic has components such as a decentralized exchange module, a blockchain module, a tokenization module, and an order fulfillment module. These components are classified into two systems, decentralized exchange (DEX) and asset tokenization platform (ATP).Sologenic’s ATP combines various open-source and in-house developed technologies to achieve a secure, robust, and advanced architecture to ensure maximum security and uptime. The Sologenic DEX is an open-source gateway to the native decentralized exchange on the XRP Ledger. The Sologenic DEX allows customers to connect their wallets and trade their tokenized assets with other customers in real time, peer-to-peer.

The Sologenic ecosystem has two types of tokens:

  1. SOLO Coin: SOLO is a utility token of the platform. SOLO coins act as liquidity providers and market makers and can be traded against cryptocurrencies. For SOLO holders, Sologenic aims to offer discounts on trading fees, along with the Liquidity Provider Reward Program (LPRP). In LPRP, Sologenic rewards the users for providing liquidity for transactions. Moreover, SOLO holders are eligible to obtain a free SOLO Card by the platform to spend their cryptos globally with benefits such as monthly cashback, private events, discounts on select hotels, airport lounge access, plus many more benefits. There are four tiers of cards based on how many SOLOs users have in their wallets: black plastic, black metal, black executive metal, and black prestige carbon fiber.

  2. Tokenized Assets: These are securities stablecoins backed by traditional currencies or stocks that are only available to trade on Sologenic due to required securities brokerage licenses.

History of Sologenic (SOLO)

Bob Ras and Reza Bashash are the founders of Sologenic (Manticore Securities AS). Bob Ras is the CEO and has established ventures within the manufacturing, tech, and marketing industries. Reza Bashash is the CTO and is an experienced engineer with over 10 years of experience working in the artificial intelligence and fintech sectors.

The total max supply of SOLO is 400,000,000.

How Are New Sologenic (SOLO) Created & Staked?

The SOLO HODLers (crypto investors) are rewarded by staking SOLO into SOLO Savings Program (SSP). Sologenic has SOLO Expansion Fund (SEF) with the purpose of the ecosystem’s growth, increasing the global reach, and increasing the value of the SOLO coin to protect all the initial HODLers. The platform aims to assign a small portion of this fund to create SSP to help the market price stability. 

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FAQ

What is the current price of Sologenic?

The price of 1 Sologenic currently costs $0.14.

What is the market cap of Sologenic?

The current market cap of Sologenic is $55.21M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Sologenic?

The all-time high of Sologenic is $6.63. This all-time high is highest price paid for Sologenic since it was launched.

What is the 24 hour trading volume of Sologenic?

Over the last 24 hours, the trading volume of Sologenic is $687.05K.

What other assets are similar to Sologenic?

Assets that have a similar market cap to Sologenic include Rakon, Constellation, inSure DeFi, and many others. To see a full list, see our comparable market cap assets.

How many Sologenic are there?

The current circulating supply of Sologenic is 400 million.