What is SOLO?
Sologenic deploys SOLO coins for market-making and liquidity providing. SOLO coins are issued on the XRP Ledger allowing liquidity to be moved almost instantly. The ecosystem aims to eliminate entry barriers for individual and institutional crypto investors, allowing them to trade non-blockchain asset classes, such as stock, ETFs, and commodities, with one single cryptocurrency - SOLO. To put it simply, the coins will enable people all around the world to buy and sell stock in their favorite companies with SOLO, without the need for traditional brokerages.
There are two types of tokens available within the Sologenic ecosystem:
- SOLO: A utility token which is available to trade on the global crypto exchanges.
- Tokenized Assets: Securities Stablecoins backed by Stocks, ETFs or Commodities which are only available to trade on Sologenic Trading Platform due to required securities brokerage licenses.
100% of the transaction fees generated through transfers and decentralized trading will be burned instantly by being sent to the gateway’s issuing address (Black hole). The system practices this deflationary mechanism to bring down the total supply of SOLO coins, which in turn makes remaining SOLO coins more valuable. This practice makes an equilibrium that, in the long term, makes it impossible for the SOLO coins to deplete due to higher valuation of coins and lower supply.