Sologenic is a robust ecosystem built on top of the XRP Ledger that facilitates investing and trading between digital assets and traditional assets like stocks, ETFs, and commodities. Users can execute on-demand, secure and low-cost tokenization of traditional assets on the XRP Ledger through this ecosystem.
This comprehensive ecosystem evolves the asset trading space through its tokenized securities technology, digital asset trading solutions, and NFTs.
This consolidation of the two prominent spaces will be a significant push toward mass adoption of digital assets, enabling people to tokenize the economy and create a staggering amount of new use cases for this innovative asset class.
Though the company is relatively new, Sologenic has become one of the largest decentralized exchanges (DEX) and NFT marketplace on the XRP ledger, with 1.5 million monthly transactions averaging around $300 million in trading volume per month. This massive growth in popularity comes down to the platform alleviating high minting costs and slow transactions.
Recently, the project implemented a series of upgrades and new components into its ecosystem. With these new components came the integration of a cross-chain bridge between the XRP Ledger and the Binance Smart Chain to facilitate the flow of SOLO, Sologenic’s ecosystem token, through a partnership with Allbridge.
What Sets Sologenic Apart
Sologenic is setting itself apart from its competitors, offering many features and solutions that aren’t found on other DEXs and NFT marketplaces.
Here are some of the outstanding features that set Sologenic apart from the rest:
- Sologenic’s marketplace does away with hefty fees allowing users to complete any transaction with no gas fees attached. This breaking down of a substantial barrier will open the door for new users to join the space.
- The marketplace is commission-free, so creators receive all the profits from their art. This ensures the artist is always put first.
- Through the platform, users can purchase tokens using traditional banking and payment solutions such as Visa, Mastercard, and Interact, improving the users’ overall experience.
- The project emphasizes community by featuring and participating in community-based projects on social media and the marketplace’s home page – the most recent push being the Sologenic Prime Program.
Sologenic Prime Program
To facilitate a space that supports and accepts new artists and innovative NFT projects, the Sologenic team recently announced the launch of the Sologenic Prime Program. The program will provide grants to outstanding artists and innovative NFT projects with great utility. Original collection will be featured on the marketplace in a a new section providing artists the exposure they need to reach like-minded individuals and build a community.
The Sologenic Prime Program is an answer to the pain points found in the now massively popular NFT space.
Some of the most prominent deterrents artists new to the space face when using NFT marketplaces are the costly gas fees and a somewhat oversaturated market that can, at times, focus on quantity rather than originality and innovation. Because of this, many great artists are ignored and cannot get over the initial hump of launching their project, so it never builds the community it needs to succeed.
Sologenic innovative ecosystem looks to evolve the formula used by many NFT marketplaces and break down the barrier that prevents exceptional artists from entering the space. Rather than focus on what is popular online, the platform will instead focus on the art quality.
The Sologenic Prime Program will provide new and innovative projects and talented artists the opportunity to need to get some much-deserved exposure.
Sologenic is a community-focused project designed to ensure that digital assets can be used in ‘any way imaginable’ by the entire planet.
Through its wide array of features and options, the platform is poised to be one of the world’s most influential blockchain-based projects by bridging the gap between traditional financial and digital asset spaces.
