DUBAI, United Arab Emirates, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Early in the year, the Sologenic team announced a batch of new components to be implemented onto the ecosystem throughout the year. One of the most anticipated modules is going live today: a reliable market index for all XRPL tokens.
The XRP Ledger was the first blockchain to have a built-in DEX; by facilitating digital asset trading, a large number of tokens have been issued on the chain for multiple and different purposes. However, considering the fast-paced growth of the network, there is a lack of data curation around the projects thriving in the ecosystem behind each of these tokens.
In this vein, the Sologenic team aims to provide an accurate index with real-time metrics, and pricing of all XRPL tokens directly connected to the SOLO DEX. The index will allow users to access accurate, reliable, and up-to-date information about the most popular tokens on the Ledger on a single platform, just like in popular cryptocurrency market cap ranking pages such as CoinMarketCap and CoinGecko.
The Sologenic Market Index will also offer a user-friendly tool for projects to list their own token and provide trustworthy information that may include their roadmap, tokenomics, team members, and even airdrop schedules. This can be very beneficial for projects to gain exposure and traction since users can easily browse through the listed tokens and proceed to trade them directly on the Sologenic DEX.
Additionally, one of the new features that the index is introducing consists of a voting system designed for community members to manifest their support or express their doubts about a project in particular. This enables the community to voice their opinions about the tokens to “keep an eye out for”, and the tokens to avoid.
In that sense, the Trust Score feature brings two advantages. For users, it provides a reliable place to observe the opinion of the community and perform a certain grade of due diligence on the projects they wish to invest in, which is fundamental to avoiding scams. And for the projects with tokens, it showcases the community sentiment about their performance and the information provided so it can be improved with greater insight.
The team also disclosed the market index sets the path for the upcoming IDO Launchpad as both components share some modules. The launchpad is set to provide a unique opportunity for projects to raise funds, issue their own tokens, and launch their projects under one seamless process to be completed with the market index for listing purposes.
Moreover, after an eventful week in Las Vegas during the XRPL Apex Dev Summit, the Sologenic ecosystem has gained notable attention on social media as the only NFT Marketplace functioning before the XLS-20 amendment goes live. This has caught the attention of Ripple’s CTO, David Schwartz, who outlined in a recent tweet that he has used the platform to mint NFTs of his own with great success and that after the XLS-20 update, the marketplace will run much smoother.
Sologenic is disrupting the asset trading industry by offering: Tokenized Securities, Crypto Assets and NFTs in a decentralized ecosystem. The Sologenic Development Foundation is formed by independent developers who maintain, build and expand the Sologenic ecosystem. More information can be found on www.sologenic.org
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e1848c4-e16c-4a76-b3a8-f3a3932eeebe