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Dirk_diggler88

Coinfields XRPL Project

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1 minute ago, RussianStandards said:

We wanna know..

 

is this going to be good good for XRP itself or just the ledger expansion thus far?

"These stablecoins are tradable and redeemable against XRP and SOLO on both CoinField exchange & XRPL DEX."

I guess it depends on what people choose to redeem it into, XRP or SOLO. XRP is more liquid currently so could be interesting, SOLO could become more liquid... #SOLOTheStandard?

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October 15, 2019 08:00 ET | Source: CoinField

TALLINN, Estonia, Oct. 15, 2019 (GLOBE NEWSWIRE) -- CoinField reveals full details of Sologenic, a sophisticated ecosystem that facilitates trading of on-demand tokenized assets, including stocks and ETFs from 25+ global stock exchanges or fiat-backed stablecoins on top of the XRP ledger (XRPL).

Introducing SOLO Coins (Ƨ) 
Sologenic deploys SOLO coins for market-making and liquidity providing. Coins are issued on the XRPL allowing liquidity to be moved in a matter of seconds. This creates a dynamic bridge between crypto assets and non-blockchain-based assets by being paired directly with fiat as collateral to settle with third-party brokerage firms. SOLO will be available for trading on CoinField’s existing exchange, CoinField’s upcoming DEX, and major global crypto exchanges.

Tokenize, Trade, Earn and Spend
Sologenic is merging traditional financial markets with crypto by leveraging the XRPL to enable ultra-fast and efficient transactions in real-time. Users can invest, trade, and tokenize assets such as stocks, ETFs, and fiat on-demand. For example, a tokenized stablecoin of TSLA or USD is presented as TSLAƨ or USDƨ. These stablecoins are tradable and redeemable against XRP and SOLO on both CoinField exchange & XRPL DEX.

SOLO holders are eligible to obtain a free Crypto Card to use their crypto assets as collateral and spend instantly anywhere globally.

“We’re making it easy for people around the world to have access to different global stock exchanges via the blockchain. Imagine living in Tokyo and being able to trade assets from NASDAQ, HKEX, LSE, Deutsche Boerse, and major exchanges on one secure platform. This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!" Said Bob Ras, CoinField CEO.

SOLO Community
Sologenic is a community-based ecosystem where users can participate in different decision making events and benefit from the SOLO Community Fund (SCF) and the SOLO Expansion Fund (SEF). Developers are encouraged to contribute to the Open Source SDKs and other decentralization initiatives. Users can voluntarily participate in multiple time-based reward programs and receive up to 20% rewards annually.

It's time for the world to #GoSOLO and create a new financial ecosystem for the modern era.

Learn more on: https://www.sologenic.com.

 

Bold bit was my doing. Although i must admit i can already trade on different exchanges through online trading with my current bank, the idea of trading through different digital assets seems pretty awesome and a great step forward for the XRPL and the ability through the DEX gives that another boost it needed.

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This looks like XRP is a step towards the key currency for all assets, including stocks, bonds,cryptocurrency and tokens.

Edited by jabit

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I've only spent literally 30 seconds looking at it but it seems like this is the first step of decentralising wall street by pegging stocks (issued as tokens) to XRP the same way USD was pegged to gold back in the day so yea if my assumption is correct then it's not big it's huge. 

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27 minutes ago, Tinyaccount said:

I hope someone asks, and gets a complete answer, why they needed the new coin?  

They will probably need to proceed with the project while raising funds.

However, the key currency for all assets will be XRP.:lol:

 

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F*ck me but a solocoin? 
This sounds like an ICO to get a big pile of cash, having a beautiful white paper but no real use case before 2022..

+ Why all the hype... I hate when hype is linked to xrp..

Edited by MisterRipple

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7 minutes ago, Molten said:

Am I the only one who sees a tokenized security as a bit murky... I mean, is it a security still?? 

That's a very very good point...

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13 minutes ago, Dirk_diggler88 said:

There's a 47 page white paper if anyone can make sense of it. Comes across a bit similar to binance coin but based on the xrpl with a bit of utility? 

SOLO is coin similar to BNB.

If we can purchase stock around the world using XRP in one place, there is a great demand.

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