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Coinfields XRPL Project


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Someone help me with an example...off the cuff I see this as:

 

I can buy NYSE: XYZ stock at 12:00pm US ET,  sell it and hour later, then buy NASDAQ: ABC stock with the same proceeds from the XYZ sale since this all settles near instantly.  In todays world that transaction, using no credit or additional funds, takes 2 days to clear.  In the background the actual value is transacting in digital assets? 

If so this seems like a similar/somewhat similar setup to the nostros/vostros cross boarder settlement solution where the value is "toekenized" in from currency at home, then "un-tokenized" into another currency away from home?

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It would help if mods were much harder on the trolls. There are members here whose clear purpose is to throw negativity and misinformation around and hope some of it sticks. I'm all for constructive c

I’m guilty of trolling the trolls in a not always civil or adult way, but sometimes I feel it’s the only way to shut them up, lowering myself to their childish way. It works though, last year many tro

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i think basically it's a way of getting around the securities issuance/redemption problem, being mainly one of regulatory/legal paperwork, i.e. contracts that must go along with a purchase of a given asset -- because here you're buying "exposure to" a derivative of an underlying asset (i.e. a coin pegged to stock, bond, commodity, etc) and thus don't hold any legal right to the asset itself

could be wrong on that, but that's how Abra have done it, i think (and maybe revolut?), so this probably isn't a groundbreaking concept – there was another swiss company called Lykke I think who tried something similar and it was a total sh*tshow of an overbloated catastrophe of an app, with yet ANOTHER pointless sh*tcoin (actually TWO!) for "utility" ("Honest, m'Lord, I swear it's for utility 'guv!") which was BLATANTLY a way to sell their holdings onto clueless punters aka a securitynotsecurity ahem cough cough. 

now, what i really DO like is the idea of a p2p exchange, like XRPL, being used to trade quickly in and out of "exposure" to a plethora of assets -- really freaking cool actually, HOWEVER i will believe it when i see it, the devil is always in the details and initial orderbook liquidity and low friction/fees is important otherwise it's going to end up in the now enormous graveyard of useless failed XRP ledger projects going back to 2013 (gateways anyone?!) 

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OK just spent TWO MINUTES doing an infamous zerpdigger "deep analysis" (very shallow actually) going by this page: https://www.sologenic.com/#coinomics

what a farce, you could copy-paste every crypto project's "Coinomics" at this point from Wirex to Cred/Uphold to Binance to Huobi, and just use them interchangeably... "bla bla something utility and like SPECIAL OFFERS, WOOO!" which for inexplicable reason REQUIRE holding our token (while they dump on you??!) and you know duuuude, like, we've cracked it because (*inhale pipe*) it's like we give you discounts on fees and unlock features –– and don't worry that SOLOcoin is just a pump and dump for us to fund operations, because even if SOLO is down 95% you'll make SOME of your money back on our pointless features that just end up getting in the way of what you really want to do: which is just use XRP for buying exposure to stocks... :D 

Liquidity Provider Reward Program (LPRP) sounds good though....... :) 

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2 hours ago, Caracappa said:

"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?

Well thanks for the reply man. I planned to read more when I was home, internet problems in the area made lunch fairly dull

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29 minutes ago, meegwell said:

Someone help me with an example...off the cuff I see this as:

 

I can buy NYSE: XYZ stock at 12:00pm US ET,  sell it and hour later, then buy NASDAQ: ABC stock with the same proceeds from the XYZ sale since this all settles near instantly.  In todays world that transaction, using no credit or additional funds, takes 2 days to clear.  In the background the actual value is transacting in digital assets? 

If so this seems like a similar/somewhat similar setup to the nostros/vostros cross boarder settlement solution where the value is "toekenized" in from currency at home, then "un-tokenized" into another currency away from home?

that sounds like and interesting idea.  Would be a logical extension of the XRP DA concept.

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THAT SAID...

I'm happy to be proven wrong and I realise how bl00dy hard it is to succeed, so I do actually wish them the best IF they're sincere and determined.  

$BNB $WXT $LBA $HT $SOLO :D 

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3 hours ago, Caracappa said:

Sigh, again it's not the answer but the lack of content. Just 'no' is as much as your braincapacity can come up with.

If you would be contributing to this forum you would say 'No, because the liquidity will flow in the SoloCoin instead of XRP so it won't do anything for XRP but only for the XRPL eco system'.

To that point, try being a little more precise in why not. But that is not your purpose, you're just here for the trolling.

It's another scam project wanting to dump yet another imaginary coin on dumb people.

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i mean what i don't get is if they're using SOLO as a "bridge" from central exchange to DEX somehow, why not just use XRP and skip the whole nonsense entirely 

EDIT: ah, seems like they're using the XRPL issuance feature to make fiat & asset pegs e.g. USD.Solo, EUR.Solo, APPL.Solo, etc - but then... don't get how the SOLO coin itself works with the issuances 

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"CoinField's Gateway connects to the XRP Ledger via existing rippled nodes in place on the platform. Each corresponding tokenized asset has an XRP address on the XRP Ledger that has an established TrustLine to the main SOLO issuing Gateway on the XRPL."

Is it possible, that I also can add a trustline to the tokenized asset? If yes, than it is great, because you can trade dirctly on XRPL. (use Habor Wallet; Gatehub; Toast; ...)

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17 minutes ago, Coolio said:

Is it possible, that I also can add a trustline to the tokenized asset? If yes, than it is great, because you can trade dirctly on XRPL. (use Habor Wallet; Gatehub; Toast; ...)

that's the dream, to be able to use XRPL gateways to trade assets, however i would assume they'd implement a KYC/AML requirement for trustlines 

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4 hours ago, Tinyaccount said:

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

Wietse commented on that:

"Because they use existing tech that is already bridged, it would be a crazy amount of work to rebuild something like that, with all rules and bridges to exchanges, markets, etc."

 

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