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{{infobox company|name=Sologenic|image=
{{spam|"It is an ecosystem built on the XRP Ledger allowing users to trade tokenized assets with any crypto assets" LOL}}
|location=
|industry=Digital Asset
|foundation=2019
|founder=
|employees=
|twitter=
|facebook=
|website=https://www.sologenic.com/
}}
 
'''Sologenic''' is a project backed by CoinField. It is an ecosystem built on the XRP Ledger allowing users to trade tokenized assets with any crypto assets.<ref>Rajarshi Mitra,{{cite news | last = | first = | title= Coinfield to initiate new stocks on the popular XRP ledger (XRPL) | newspaper =| location = | pages = | language = | publisher =fxstreet.com| date =16 October 2019 | url =https://www.fxstreet.com/cryptocurrencies/news/coinfield-to-initiate-new-stocks-on-the-popular-xrp-ledger-xrpl-201910162255 | accessdate =25 February 2020}}</ref> There is a total  supply of 400,000,000 SOLO available.<ref>{{cite news | last = | first = | title= Sologenic : la révolution des actifs tokénisés sur le XRP Ledger | newspaper =| location = | pages = | language = | publisher =hazel.finance.blog| date =| url =https://hazel.finance.blog/2020/02/11/sologenic-la-revolution-des-actifs-tokenises-sur-le-xrp-ledger/ | accessdate =25 February 2020}}</ref>
 
SOLO live trading launched on CoinField’s exchange on March 2nd, 2020. The first trading pairs available were USD, USDT, USDC, XRP, GBP, and EUR. SOLO will also be tradeable on CoinField’s upcoming decentralized XRPL exchange (DEX) and global exchanges worldwide.<ref>Adriana Hamacher,{{cite news | last = | first = | title= Coinfield to open up 30,000 stocks for crypto trading on Ripple's XRPL | newspaper =| location = | pages = | language = | publisher =decrypt.co| date =15 October 2019| url =https://decrypt.co/10353/coinfield-sologenic-stocks-crypto-trading-xrpl-ripple | accessdate =25 February 2020}}</ref>
 
The Sologenic ecosystem will enable billions of people to tokenize different non-blockchain-based assets such as stocks and ETFs from 30+ global exchanges, and trade them against cryptocurrencies on a single platform.<ref>{{cite news | last = | first = | title= Crypto Exchange CoinField Unveils Secret XRP Project, Plans to Tokenize Stocks and ETFs | newspaper =| location = | pages = | language = | publisher =dailyhodl.com| date =15 October 2019 | url =https://dailyhodl.com/2019/10/15/crypto-exchange-coinfield-unveils-secret-xrp-project-plans-to-tokenize-stocks-and-etfs/ | accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title= Sologenic Offers New Bounty Program to Launch XRP Validators| newspaper =| location = | pages = | language = | publisher =finance.yahoo.com| date =10 February 2020 | url =https://finance.yahoo.com/news/sologenic-offers-bounty-program-launch-204948709.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAA8rUbL-sXnmr-CzI_Lb9rBpURnqNnTpa4yv5mz0qnIRYTUaAO6o3-7N0Swmgf7OF-xrjxenjEYlv1SlqgU64rMmqCTI19aPswpgjT2JQFYBuvNFrcAucRqU8a_kSQCpvlntIsX3_Of5JjWznjFjcc62XesetKXbotqMCgzBPpyd | accessdate =25 February 2020}}</ref>
 
==History and Leadership==
Bob Ras, CEO of CoinField, a European-based Cryptocurrency exchange, is the co-creator of [https://www.sologenic.com/ Sologenic].<ref>Angela Scott-Briggs,{{cite news | last = | first = | title=CoinField’s Project Sologenic to Allow Stock Trading on Ripple’s XRP Ledger: An exclusive interview with Bob Ras – the founder of Sologenic| newspaper =| location = | pages = | language = | publisher =techbullion.com| date =1 November 2019| url =https://techbullion.com/coinfields-project-sologenic-to-allow-stock-trading-on-ripples-xrp-ledger-an-exclusive-interview-with-bob-ras-the-founder-of-sologenic/ | accessdate =25 February 2020}}</ref> He has several ventures in manufacturing, marketing, and technology industries.<ref>Solomon Odunayo,{{cite news | last = | first = | title=XRP is Better than Ethereum – CoinField CEO, Bob Ras| newspaper =| location = | pages = | language = | publisher =techbullion.com| date =23 November 2019| url =https://newslogical.com/xrp-is-better-than-ethereum-coinfield-ceo-bob-ras/ | accessdate =25 February 2020}}</ref> Reza Bashash, CTO of CoinField, is also the co-creator of Sologenic. Bashash is a reliable entrepreneur with a proven track record.<ref>Adrian Barkley,{{cite news | last = | first = | title=Ripple’s IPO Will Make The Firm Stronger According To The Sologenic CEO| newspaper =| location = | pages = | language = | publisher =cryptodaily.co.uk| date =20 February 2020| url =https://cryptodaily.co.uk/2020/02/ripple-ipo-firm-strong-ceo | accessdate =25 February 2020}}</ref> He is an influential blockchain advocate.<ref>Nick James,{{cite news | last = | first = | title=XRP Offers ‘Much Better And Stronger Technology Than Ethereum’ – CoinField CEO Bob Ras Opines| newspaper =| location = | pages = | language = | publisher =zycrypto.com| date =21 November 2019| url =https://zycrypto.com/xrp-offers-much-better-and-stronger-technology-than-ethereum-coinfield-ceo-bob-ras-opines/ | accessdate =25 February 2020}}</ref>
 
In 2018, Ras and Bashash switched their focus to cryptocurrency and blockchain technology with one goal in mind: To create a new financial ecosystem for the modern era, and Sologenic was born. <ref>Khalid Lawal,{{cite news | last = | first = | title=I Love to Think XRP Would Soon Become Global Reserve Currency – CoinField CEO| newspaper =| location = | pages = | language = | publisher =newslogical.com| date =2 November 2019| url =https://newslogical.com/i-love-to-think-xrp-would-soon-become-global-reserve-currency-coinfield-ceo/ | accessdate =25 February 2020}}</ref>
 
==Goals==
Sologenic modernizes traditional functions of current financial markets and facilitates the mass adoption of cryptocurrency.<ref>Christine Masters,{{cite news | last = | first = | title= CoinField Presents SOLOGENIC, Tool to Issue Stock and Fiat-Backed Stablecoins on XRP Ledger | newspaper =| location = | pages = | language = | publisher =cryptovest.com| date =15 October 2019| url =https://cryptovest.com/news/coinfield-presents-sologenic-tool-to-issue-stock-and-fiat-backed-stablecoins-on-xrp-ledger/?utm_source=Investing.com&utm_medium=PartnerFeeds | accessdate =25 February 2020}}</ref>
 
Built on the XRP Ledger (XRPL), the Sologenic ecosystem allows trading and investing of 30,000 tokenized stocks and ETFs from 30+ global exchanges.<ref>Alex Dovbnya,{{cite news | last = | first = | title= Ripple's XRP Ledger to Facilitate "Ultra-Fast" Trading of Traditional Stocks and ETFs | newspaper =| location = | pages = | language = | publisher =u.today| date =15 October 2019| url =https://u.today/ipples-xrp-ledger-to-facilitate-ultra-fast-trading-of-traditional-stocks-and-etfs| accessdate =25 February 2020}}</ref> It will enable people all around the world to buy and sell stock in their favorite companies with SOLO, without the need for traditional brokerages.<ref>Arijit Sarkar,{{cite news | last = | first = | title= CoinField unveils ‘secret’ XRP Ledger project, Sologenic| newspaper =| location = | pages = | language = | publisher =eng.ambcrypto.com| date =15 October 2019| url =https://eng.ambcrypto.com/coinfield-unveils-secret-xrp-ledger-project-sologenic/| accessdate =25 February 2020}}</ref> Users can deposit fiat currencies such as USD, CAD, EUR, GBP, JPY, and AED into their Sologenic wallets, convert it to SOLO, and then buy stock on global exchanges.<ref>Stefania Stimolo,{{cite news | last = | first = | title= CoinField announces Sologenic built on the XRP Ledger (XRPL)| newspaper =| location = | pages = | language = | publisher =en.cryptonomist.ch| date =15 October 2019| url =https://en.cryptonomist.ch/2019/10/15/coinfield-sologenic-xrp-ledger/| accessdate =25 February 2020}}</ref> Customers can also turn the cryptocurrency XRP to SOLO. Conversions work both ways, allowing for customers to sell stock and withdraw in fiat currencies.<ref>{{cite news | last = | first = | title= SoloGenic – Tokenize Assets, Stocks & ETF’s in Exciting XRP Eco-system| newspaper =| location = | pages = | language = | publisher =xrpripplenews.com| date =| url =https://xrpripplenews.com/2019/10/15/sologenic-tokenize-assets-stocks-fiat-etfs-in-exciting-xrp-eco-system/| accessdate =25 February 2020}}</ref>
 
==Upcoming Services==
===Decentralized XRPL Exchange===
The exchange, built on the XRP Ledger, enables users to trade tokenized assets for SOLO or XRP.<ref>{{cite news | last = | first = | title= CoinField’s Secret XRP Ledger Project Sologenic to Tokenize Stocks & ETFs| newspaper =| location = | pages = | language = | publisher =bitcoinexchangeguide.com| date =15 October 2019| url =https://bitcoinexchangeguide.com/coinfields-secret-xrp-ledger-project-sologenic-to-tokenize-stocks-etfs/| accessdate =25 February 2020}}</ref> Users will have access to 30+ global stock exchanges where they can buy and sell stock in their favorite companies.<ref>Carlos Terenzi,{{cite news | last = | first = | title= CoinField Exchange Introduces Sologenic Platform Built On The XRP Ledger| newspaper =| location = | pages = | language = | publisher =usethebitcoin.com| date =| url =https://usethebitcoin.com/coinfield-exchange-introduces-sologenic-platform-built-on-xrp-ledger/| accessdate =25 February 2020}}</ref>
 
===Crypto Cards===
SOLO holders can obtain a free Crypto Card, which will allow them to spend their cryptocurrencies anywhere in the world.<ref>Rajarshi Mitra,{{cite news | last = | first = | title= Coinfield to initiate new stocks on the popular XRP ledger (XRPL)| newspaper =| location = | pages = | language = | publisher =fxstreet.com| date =16 October 2019| url =https://www.fxstreet.com/cryptocurrencies/news/coinfield-to-initiate-new-stocks-on-the-popular-xrp-ledger-xrpl-201910162255| accessdate =25 February 2020}}</ref> The cards offer many benefits, including monthly cashback, airport lounge access, discounts on select hotels and private events, and access to the Liquidity Provider Reward Program (LPRP).<ref>{{cite news | last = | first = | title= Crypto Exchange CoinField Bringing Stock and Fiat-backed Stablecoins on the XRP Ledger| newspaper =| location = | pages = | language = | publisher =bitcoingarden.org| date =17 October 2019| url =https://bitcoingarden.org/crypto-exchange-coinfield-bringing-stock-and-fiat-backed-stablecoins-on-the-xrp-ledger/?__cf_chl_jschl_tk__=33d2b074c7ef3f5310e2ada6edc3555be189fb30-1582658502-0-Ae3_PymNpVxZBYIc8C_8RvYX_59mXNV1dRNlwSeF8djWoLMrPLNFzN6Bw669EH-iTT0JWEuOQUTgUxukqZtINcvV5RQu9P4jTEe4UxqZgeqhWSit97KYMBbDSg8xqXKH0ltjPjxTbHeJ0Br28QaNGewx6OyOPEp2MD7EFs4GeKdQXqn8MMatSzHE242Pus3EDARorSxxBozYqmJFnJ644MY8ZY4TfXWjNYbemXF-2Ij47572rLUHmTQSgwaXY2-xF7iiPjAb0JkcwN52Gw6x9LXY1C49XBf_aTv0R0XiCgxWlkLgRaofQeSUMaDJUrjx3jx_XOndqbWBwIhUzGlpC2DuUZakOPoDzGIWGLhIBWk01dx_svrd96uh5nYF7390K2YVr41vpUv7LFGS6mDvlIw| accessdate =25 February 2020}}</ref>
 
There are four tiers of cards available, which users will qualify for based on how many SOLOs they have in their wallets.<ref>Abigale Lormen ,{{cite news | last = | first = | title= CoinField’s initiative employs the XRP Ledger powered by Ripple; analysts predict massive move| newspaper =| location = | pages = | language = | publisher =ourbitcoinnews.com| date =16 October 2019| url =https://ourbitcoinnews.com/coinfields-initiative-employs-the-xrp-ledger-powered-by-ripple-analysts-predict-massive-move/| accessdate =25 February 2020}}</ref> The cards are available in three different materials. These are plastic, metal, and carbon fibre.<ref>{{cite news | last = | first = | title=Sologenic To Use Ripple's XRP Ledger For Stock And ETF Trading| newspaper =| location = | pages = | language = | publisher =seekingalpha.com| date =23 October 2019| url =https://seekingalpha.com/instablog/50782395-dan_gray/5365794-sologenic-to-use-ripples-xrp-ledger-for-stock-and-etf-trading| accessdate =25 February 2020}}</ref>
 
==Products==
===SOLO Wallet app===
On 5th February 2020, Sologenic launched its decentralized SOLO Wallet app for SOLO, XRP, and tokenized assets.<ref>{{cite news | last = | first = | title= Sologenic Launches First Decentralized Wallet App for SOLO, XRP and Tokenized Stocks| newspaper =| location = | pages = | language = | publisher =globenewswire.com| date =6 February 2020 | url =https://www.globenewswire.com/news-release/2020/02/06/1981442/0/en/Sologenic-Launches-First-Decentralized-Wallet-App-for-SOLO-XRP-and-Tokenized-Stocks.html | accessdate =25 February 2020}}</ref> The app is available to download on the App Store and Google Play.<ref>{{cite news | last = | first = | title= Sologenic Launches First Decentralized Wallet App For Solo, Xrp And Tokenized Stocks| newspaper =| location = | pages = | language = | publisher =cbj.ca| date =6 February 2020 | url =https://www.cbj.ca/sologenic-launches-first-decentralized-wallet-app-for-solo-xrp-and-tokenized-stocks/ | accessdate =25 February 2020}}</ref>
 
The app allows users to add, activate, and manage multiple wallets, hold, and transfer digital assets from a single wallet address, receive live market price updates, track recent transactions, and more.<ref>{{cite news | last = | first = | title= Sologenic Launches First Decentralized Wallet App for SOLO, XRP and Tokenized Stocks | newspaper =| location = | pages = | language = | publisher =finance.yahoo.com| date =6 February 2020 | url =https://finance.yahoo.com/news/sologenic-launches-first-decentralized-wallet-210610817.html | accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title= IEO for Ripple (XRP) based exchange Sologenic now live on CoinField| newspaper =| location = | pages = | language = | publisher =cryptoninjas.net| date =20 February 2020 | url =https://www.cryptoninjas.net/2020/02/20/ieo-for-ripple-xrp-based-exchange-sologenic-now-live-on-coinfield/ | accessdate =25 February 2020}}</ref>
 
==Regulations==
Regulations prevent Sologenic from operating in the USA and Canada.
 
==Sologenic Community==
Sologenic is a community-focused project, founded on the belief that cryptocurrency is used in any way imaginable, by anyone in the world. The Sologenic supporters all share this belief, when participating in Sologenic’s programs and community funds.<ref>JP Buntinx,{{cite news | last = | first = | title=What is SoloGenic?| newspaper =| location = | pages = | language = | publisher =nulltx.com| date =15 October 2019| url =https://nulltx.com/what-is-sologenic/| accessdate =25 February 2020}}</ref>
 
===SOLO Community Fund (SCF)===
Sologenic is committed to building the infrastructure required for the large-scale adoption of cryptocurrencies. The SCF’s purpose is to help the blockchain and cryptocurrency ecosystem grow. The fund is used to develop decentralized community-based projects, community events and emergency situations. The first initiative funded by the SCF is Sologenic’s XRP Bounty Program.<ref>{{cite news | last = | first = | title=Sologenic Offers New Bounty Program to Launch XRP Validators| newspaper =| location = | pages = | language = | publisher =bloomberg.com| date =10 February 2020| url =https://www.bloomberg.com/press-releases/2020-02-10/sologenic-offers-new-bounty-program-to-launch-xrp-validators| accessdate =25 February 2020}}</ref>
 
Started in February 2020, the Bounty Program is open to 10 qualified developers or businesses who launch an XRP Validator in 2020.<ref>{{cite news | last = | first = | title=Sologenic Launches New Program to Play Bigger Role in the Growth of XRP Ledger| newspaper =| location = | pages = | language = | publisher =newslogical.com| date =7 February 2020| url =https://newslogical.com/sologenic-launches-new-program-to-play-bigger-role-in-the-growth-of-xrp-ledger/| accessdate =25 February 2020}}</ref> Applicants must be verifiable developers or businesses supporting XRP.<ref>Udit Agarwal,{{cite news | last = | first = | title= CoinField unveils ‘secret’ XRP Ledger project, Sologenic| newspaper =| location = | pages = | language = | publisher =headlinesoftoday.com| date =21 October 2019 | url =https://www.headlinesoftoday.com/business/coinfield-unveils-secret-xrp-ledger-project-sologenic.html | accessdate =25 February 2020}}</ref>
 
===Community Participation Program===
Sologenic deploys a specific algorithm to analyze the community feedback in different events such as SCF, allowing SOLO holders to participate in the selection process.<ref>Manu Naik,{{cite news | last = | first = | title= You can build on XRP Ledger… general public is unaware: CoinField CTO| newspaper =| location = | pages = | language = | publisher =maltablockchainsummit.com| date =7 November 2019 | url =https://ambcrypto.com/you-can-build-on-xrp-ledger-general-public-is-unaware-coinfield-cto/| accessdate =25 February 2020}}</ref> The weight of the SOLO holder's participation power in community events depends on the number of SOLO coins they hold. For example, if a user holds 100 SOLO coins, this translates to 100 points, whereas a user with one SOLO coin has one point towards influencing outcomes.<ref>Ketaki Dixit,{{cite news | last = | first = | title= Here is why Peru bank switched from Ripple’s xCurrent to xRapid| newspaper =| location = | pages = | language = | publisher =tronweekly.com| date =7 November 2019 | url =https://www.tronweekly.com/here-is-why-peru-bank-switched-from-ripples-xcurrent-to-xrapid/| accessdate =25 February 2020}}</ref>
 
==SOLO Expansion Fund (SEF)==
The SOLO Expansion Fund (SEF) goes towards the marketing and promotional activities for the Sologenic ecosystem, such as listing fees for SOLO on global exchanges, summits, gatherings, and worldwide marketing campaigns explicitly promoting the Sologenic ecosystem, SOLO coins, and community Airdrops.<ref>Viktor Sokolov,{{cite news | last = | first = | title=Ripple XRP will become global reserve currency| newspaper =| location = | pages = | language = | publisher =bitzarena.com| date =4 November 2019 | url =https://bitzarena.com/ripple-xrp-will-become-global-reserve-currency/| accessdate =25 February 2020}}</ref> The purpose of this fund is to directly grow Sologenic, increase its global reach, and increase the long term value of SOLO to protect its investors.<ref>{{cite news | last = | first = | title=CoinField’s CEO Explains the Timeline for Trading Stocks and ETFs on Sologenic Platform| newspaper =| location = | pages = | language = | publisher =coinspeaker.com| date =12 February 2020 | url =https://www.coinspeaker.com/coinfield-stocks-etfs-sologenic-platform/| accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title=CoinField Presents SOLOGENIC, Tool to Issue Stock and Fiat-Backed Stablecoins on XRP Ledger| newspaper =| location = | pages = | language = | publisher =investing.com| date =15 October 2019 | url =https://www.investing.com/news/cryptocurrency-news/coinfield-presents-sologenic-tool-to-issue-stock-and-fiatbacked-stablecoins-on-xrp-ledger-1996499| accessdate =25 February 2020}}</ref>
 
==See also==
* [[CoinField]]
 
==External Links==
* [https://www.coinfield.com/ CoinField website]
 
 
==References==
 
 
[[Category:Cryptocurrencies]]
[[Category:Mobile payments]]

Latest revision as of 22:39, 16 July 2020

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"It is an ecosystem built on the XRP Ledger allowing users to trade tokenized assets with any crypto assets" LOL


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