Guidelines for SOLO holders to establish a TrustLine to receive Coreum (CORE) Airdrop
Coreum’s ecosystem and technology are built by the community for the community. With no Initial Coin Offerings (ICO) or Token Sale, Coreum is an open-source project built to be 100% community-based, allowing this technology to support extensive future growth in Decentralized Applications (dApps) and DeFi space within the whole blockchain ecosystem.
Review Coreum’s blueprint here.
In order to engage the community to participate in the new Coreum ecosystem and governance utilities, the CORE Team has proposed to conduct an airdrop equal to 20% of the total supply of $CORE tokens (100M) to the Sologenic community as the initial backers and the most important use-case of Coreum blockchain according to a 371-day distribution schedule.
In a nutshell, If you hold $SOLO on any decentralized wallets, you do NOT need to establish a Trustline for the Snapshots, however, you still need to establish a TrustLine with the Coreum’s gateway to be able to receive $CORE airdrop tokens at the time of distribution by end of February 2022.
When will the Snapshots be taken?
The Coreum airdrop will take place after capturing a snapshot of the account balances on the XRP Ledger, which established a TrustLine to the Sologenic Gateway.
The system will take one snapshot at a random day/time, each month during 2022. Two snapshots have been already taken for the month of December 2021 and January 2022. There will be 11 more snapshots within 2022 according to the schedule table on this article.
A total of 100,000,000 $CORE will be distributed to those wallet addresses holding $SOLO at the time of each snapshot.
Since all SOLO holders already have TrustLines established with the Sologenic Gateway, “FOR SNAPSHOTS” NO ACTION IS REQUIRED TO BE TAKEN FOR THE SOLO HOLDERS WHO HOLD THE ASSETS ON DECENTRALIZED WALLETS SUCH AS SOLO DEX, XUMM, however you still need to create a TrustLine with Coreum’s gateway to be able to receive the CORE airdrops.
Initially, $CORE tokens will be distributed via an IOU on the XRP Ledger and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the $CORE. Alternatively, the tokens can remain and co-exist on the XRP Ledger and be traded on the Sologenic DEX.
Here is the schedule for Snapshots and distributions of the $CORE Airdrop for the $SOLO holders:
How Can I Create a TrustLine to Recieve CORE Tokens at the time of distribution?
You need to set up a Trustline with the Coreum’s gateway using the following specifications. Watch the following video to understand how you can establish a Trustline through various decentralized wallets such as SOLO DEX, XUMM, XRP TOOLKITS:
Coreum Gateway (Issuer): rcoreNywaoz2ZCQ8Lg2EbSLnGuRBmun6D
CORE Currency Code: 434F524500000000000000000000000000000000
Limit: 500,000,000
How can I create a TrustLine on the SOLO DEX app, or use a Ledger Device or D’CENT through the SOLO DEX?
- First, sign in to DEX by clicking on “Access DEX”
- If you haven’t yet, connect your Wallet to the DEX by clicking on the Wallet icon, connect wallet, and scanning the QR code with the SOLO DEX mobile app
- Once your Wallet is connected and has been activated, head over to the “Wallet” tab where you can see your assets
- Click on “Add Asset” and insert the following information
Coreum Gateway (Issuer): rcoreNywaoz2ZCQ8Lg2EbSLnGuRBmun6D
CORE Currency Code: 434F524500000000000000000000000000000000
Limit: 500,000,000
5. Once the transaction is signed and validated you will notice that now you have CORE in your assets dashboard and its status has changed to “Active”. You can now send and receive CORE to your wallet.
How can I create a TrustLine using XUMM Wallet:
You can click here and scan the QR code to create your TrustLine through XUMM or follow these steps:
- Head over to www.xrpl.services
- Click on “Sign in with XUMM Wallet” and scan the QR code with the mobile XUMM App
- Back on the website verify that the Network is set to “Main”
- Select “Trust Set” and input the following information to add a new token:
Coreum Gateway (Issuer): rcoreNywaoz2ZCQ8Lg2EbSLnGuRBmun6D
CORE Currency Code: 434F524500000000000000000000000000000000
Limit: 500,000,000
5. Confirm the transaction by clicking on “Send Trustset to XUMM”, review the details and sign the transaction with your XUMM App.
How can I create a TrustLine on the XRP Toolkit?
- Connect your Wallet to the Ledger at XRPL Toolkit
- Click on “Add Asset” and select “Custom Edit”
- Here you will need to input the following information:
Coreum Gateway (Issuer): rcoreNywaoz2ZCQ8Lg2EbSLnGuRBmun6D
CORE Currency Code: 434F524500000000000000000000000000000000
Limit: 500,000,000
4. Once you have filled in this information, click on next and sign and submit the transaction using your private Wallet.
5. Once it has been validated, the token will appear in your Assets Dashboard.
What If you hold SOLO on a centralized exchange?
The SDF team has started contacting all the centralized exchanges that have supported the SOLO airdrop to support CORE airdrop for their SOLO holders as well. The first exchange that supported the Coreum Airdrop is Bitrue. They will participate in the Airdrop from the start of February 1st, 2022.
You can find the list of the participating exchanges in SOLO Airdrop from the below link.
List of exchanges: https://www.sologenic.com/participating-exchanges
WE STRONGLY ENCOURAGE ALL THE COMMUNITY MEMBERS TO CONTACT THESE EXCHANGES AND REQUEST THEM TO SUPPORT THE $CORE AIRDROP TO ENSURE ALL THE SOLOGENIC COMMUNITY MEMBERS WILL RECEIVE THE $CORE AIRDROP.
When/How can I trade $CORE?
Initially, $CORE tokens will be distributed via an IOU on the XRP Ledger and once Coreum’s mainnet is launched in August 2022, users can conduct a token swap through a Gateway designated for the $CORE.
The $CORE tokens can remain and co-exist on the XRP Ledger and may be traded on the Sologenic DEX, other XRPL DEX and Partipcating Centralized Exchanges after the first distribution are completed in February 2022.
How to stay tuned for further updates?
If you wish to receive more updates about the upcoming $CORE airdrop, we suggest you follow @CoreumOfficial and @realSologenic on Twitter.
What is Coreum?
Coreum is a 3rd generation, layer 1 Blockchain built to serve as a core infrastructure of future Blockchain applications.
The Coreum blockchain is simply the solution to improve all current weaknesses and provide developers with an essential infrastructure to build any decentralized app, from DeFi and Metaverse to Gaming & even asset tokenizations, banking & remittances in the financial industry.
Coreum interoperates with existing Blockchains while processing efficient, secure, fast and sustainable transactions. Get more info on www.coreum.com
