What is Sologenic (SOLO)? How To Buy SOLO Tokens In India?

What is Sologenic (SOLO)?

You can trade traditional financial assets like stocks and ETFs only through those applications, where a third party takes a cut, and you have limited access to cross-border asset trading. Sologenic aims to resolve this issue by offering an ecosystem that enables the tokenization of non-blockchain assets. It is a censorship-resistant platform that allows on-demand, cheap and secure trading of real-world assets such as stock, ETFs, bonds, and fiat currencies by tokenizing them on XRP Ledger.

That means you can create a digital token of any digital or physical asset on distributed ledgers of the XRP network with Sologenic. This eliminates the high costs, friction, complexity, and entry barriers of traditional trading and asset transfer for individuals and investors. Sologenic has its native token, SOLO, that can be traded against these tokenized assets, for liquidity providing, rewarding users with trading discounts, crypto cards, and more.

Who are the Founders of Sologenic?

Sologenic was founded by Bob Ras and Reza Bashash in 2019. The SOLO team consists of over 30 members who are experts in various backgrounds: blockchain advocates, engineers, and marketers across the globe. Bob Ras, CEO Sologenic, has previously established several manufacturing, tech, and marketing ventures. He switched to crypto and blockchain tech in 2018 to build a new financial ecosystem based on blockchain. On the other hand, Reza Bashash, CTO Sologenic, is an engineer with vast experience of 10 years working in Artificial Intelligence, the Fintech industry, building successful tech companies.

How does Sologenic work?

The Sologenic ecosystem is built on XRP Ledger to make the platform censorship-resistant, fast with a throughput of 1500 TPS (transactions per second), secure, and has integrated smart contract facilities. It utilizes several components to facilitate asset tokenization process and trading. A few of them are as follows: 

• Asset Tokenization Platform(ATP): This interface is developed by the Solo team with open-source technologies to provide a robust, secure, and advanced architecture to the platform. This application is available for both web and mobile users in app stores.
• SAXO trading system: User’s trading orders are executed through SAXO API that provides a unique transaction ID which is stored and visible in the Sologenic ecosystem.
• Stablecoin assets: Assets tokenized on Sologenic are similar to stablecoins in nature. They have a real-world asset as their peg value, meaning the value of tokenized assets remains the same as real-world assets.
• Sologenic DEX: This open-source platform enables users to connect their wallets and trade tokenized or crypto assets through native decentralized exchange on XRP Ledger.

What makes SOLO Unique Use Cases?

• SOLO holders can participate in the Liquidity Provider Reward Program to earn a yield on their tokens. 
• Sologenic DEX enables fast p2p trading of tokenized assets at very low gas costs, around $0.000005.
• The platform offers a seamless and user-friendly interface with over 40000 listed assets and 30+ global stock exchanges.

Sologenic (SOLO) Price Analysis

Source: TradingView

• SOLO price today is trading at $0.103, with a 24-hour trading volume of $647,706. In the last 24 hours, The SOLO price has fallen by about 1.57%. The market cap of SOLO is standing at $41 million as of June 14, 2023.
• SOLO price has displayed a downward rally in the past few weeks and is currently trading below its 50-day Exponential Moving Average.  
• SOLO is showing a bearish market sentiment in the short term, with RSI-14 below 40. However, if the SOLO price continues to resist, it might soon reach $0.12.

How to Buy SOLO Coins in India?

To buy SOLO Coin in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration.
• Complete your KYC
• After your profile is verified, fund your wallet and buy a SOLO.