Table of contents
· Q: Who is eligible to receive SOLO tokens airdrop?
· Q: What is a TrustLine?
· Q: When is the snapshot and distribution date & time?
· Q: How much SOLO will be airdropped?
· Q: What is the ratio of the airdrop for XRP and SOLO holdings?
· Q: Will I get SOLO airdrop if I have XRP and/or SOLO?
· Q: How does this airdrop affect the supply of SOLO?
· Q: How much SOLO will I get from this airdrop?
· Q: How to claim through SOLO Wallet (SOLO DEX & Wallet mobile app)?
· Q: How to claim through Sologenic.org DEX?
· Q: How to claim through XUMM Wallet?
· Q: How to claim through XRPTOOLKIT?
· Q: How to claim through Ledger Devices or D’CENT?
· Q: How to add Trustline manually and claim through my private wallet?
· Q: What if your XRP is on an exchange?
· Q: What if your SOLO is on an exchange?
· Q: How to support the Sologenic Ecosystem?
· Q: Interested in joining the core team?
Since the announcement of the 200M SOLO Airdrop, we have been thrilled at how the community welcomed our decision. We are now sure that we have done the right thing and the team’s decision to release the SOLO tokens to the community was great.
Although we have written details on how to claim the airdrop, the community still has many questions that we are addressing in this FAQ.
Q: Who is eligible to receive SOLO tokens airdrop?
A: Anyone who establishes a Trustline to the SOLO Gateway address and holds XRP and/or SOLO at the time of snapshot is eligible to receive the airdrop.
Q: What is a TrustLine?
A: A TrustLine is a feature from the XRP Ledger to allow currencies other than XRP to be issued and transacted between accounts. It also allows accounts to hold a “limit” of that currency they wish to hold.
Q: When is the snapshot and distribution date & time?
A: On Dec 24th, 2021 at 8:00 PM UTC we will take a snapshot of the XRP Ledger and scan the accounts with TrustLines to the SOLO Gateway. Those who have the TrustLine established will be on the list to receive the tokens on Jan 20th, 2022 at 8:00 PM UTC.
Q: How much SOLO will be airdropped?
A: A Total of 200,000,000 SOLO will be airdropped to the eligible community.
Q: What is the ratio of the airdrop for XRP and SOLO holdings?
A: 100,000,000 SOLO will be airdropped to the accounts (with an established TrustLines) who hold XRP and another 100,000,000 SOLO will be airdropped to accounts that hold SOLO.
Q: Will I get SOLO airdrop if I have XRP and/or SOLO?
A: if you have both XRP and SOLO, you will receive the airdrop for both accounts (depending on the balances of each account XRP or SOLO, the airdrop amount could be different). If you only have XRP at the time of the snapshot, you will only receive SOLO from the 100M pool that is designated for XRP. If you only have SOLO at the time of the snapshot (XRP account reserve also counts as a positive XRP balance) you will receive an airdrop from the pool that is designated to both.
Therefore, if you have both you will receive an airdrop from both pools, if you hold only of the currencies, you will receive an airdrop from that specific pool.
For example, take Alice, Bob, and Joe.
Alice has a balance of:
XRP: 5,000
SOLO: 15,000
Alice will get a portion of the 100M pool designated to SOLO AND a portion of the 100M designated for the XRP pool.
Bob has a balance of:
XRP: 5,000
SOLO: 0
Bob will only get a portion of the 100M pool designated to XRP
Joe has a balance of:
XRP: 12
SOLO: 5,000
Since it is not possible to hold a TrustLine with a balance of 0 to the SOLO Gateway, Joe will receive a portion of the 100M pool designated to SOLO AND a portion of the 100M designated for the XRP pool (with 12 XRP as his contribution amount).
Q: How does this airdrop affect the supply of SOLO?
A: Around 2 years ago 400,000,000 SOLO were created to be used within the Sologenic Ecosystem. Of this 400,000,000, over half were locked to be used for a potential airdrop to expand the community. This means, the team is not minting new tokens (Which is not possible due to the fact the Sologenic Gateway has burnt its address and is not technically able to mint new tokens) and is in fact not increasing its supply causing inflation.
Q: How much SOLO will I get from this airdrop?
A: Depending on the number of accounts that claim the airdrop, the 200M SOLO will be distributed according to the total claimed amount.
Let’s assume the final amount of XRP and SOLO which are qualified for the SOLO airdrop at the time of snapshot is as follows:
SOLO: 20,000,000
XRP: 500,000,000
Then the number of SOLO Airdrops for the holders of XRP and SOLO will be calculated and distributed as below:
SOLO Airdrop Amount:
(200,000,000 ÷ 2) ÷ 20,000,000 = 5 SOLO per each SOLO Holding
XRP Airdrop Amount:
(200,000,000 ÷ 2) ÷ 500,000,000 = 0.2 SOLO per each XRP Holding
Q: How to claim through SOLO Wallet (SOLO DEX & Wallet mobile app)?
A: SOLO Wallet (SOLO DEX & Wallet mobile app) is a full-featured XRPL wallet with built-in DEX provided by the Sologenic Core Team. You can use this app to securely store your SOLO, XRP, or other issued currencies on the XRP Ledger.
1- Download the app for your device
Appstore: https://apps.apple.com/ca/app/solo-wallet/id1497396455
Google Play Store: https://play.google.com/store/apps/details?id=com.sologenicwallet
2- Follow the on-screen instructions and accept the terms and conditions
3- Create a new wallet (if you already have one, skip to step 11)
4- Choose a name for the new wallet and pick a strong password (This password is required for signing transactions)
5- Write down your 12-word recovery words in a safe place offline. (DO NOT SHARE this with anyone)
6- Confirm your recovery phrase by selecting them in the order they were shown on the last screen.
7- After finishing your wallet is now set-up
8- At this stage, you must fund your wallet with at least 10 XRP to activate it
9- You can copy your address or view the QR code to send XRP from another wallet. Please note you do not have a destination tag with this wallet.
10- After sending the XRP, your wallet must show a positive balance which indicates that your account is now active. To activate the SOLO currency on the wallet, click on “SOLO” (at this stage it says it is not activated)
11- Click activate and provide your account password. After a few seconds, you will see a pop-up that your SOLO Wallet has been activated.
Click Done and go to the main wallet screen.
You can now see your SOLO Wallet is activated and the “NOT ACTIVATED” is now removed.
You can now send, receive buy and sell both SOLO and XRP using this wallet. To trade, simply click on the “DEX” tab and browse the markets available for the XRPL DEX. You can add your custom pairs and add them to your favorites for future trading use.
Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.
After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.
Q: How to claim through Sologenic.org DEX?
A: Sologenic.org is a Decentralized Exchange built on top of the XRP Ledger that allows users to connect their wallets (Sologenic DEX wallet/SOLO Wallet, XUMM, Ledger Device, D’CENT) and trade on the DEX or conduct basic wallet transactions, such as adding a TrustLine, changing account settings, etc.
1- First, go to Sologenic.org and click “Access DEX”
2- Next, click the “Connect Wallet” from the menu bar and choose your preferred wallet. If you chose SOLO Wallet or XUMM, you should have already set up your account with those to get a notification or scan the QR Code. For hardware devices such as the Ledger Device and D’CENT, please connect them to your computer and follow on-screen instructions.
3- Once your signing wallet is connected, head to the “WALLET” tab from the menu bar. You will notice that SOLO is already in the list of currencies, but it says “Inactive” as its status. Click the “Activate” button on the right side of the box.
4- You can confirm that you are adding the SOLO Currency to your wallet, click “Next”.
5- Submit the transaction.
6- At this point, you must sign this transaction with the wallet you connected to earlier. Please follow the on-screen instructions to get the transaction signed.
7- Once the transaction is signed, dispatched and validated you will notice that the status for “SOLO” has changed to “Active”. You can now send and receive SOLO to your wallet.
You can now trade on the DEX with any currency that exists on the XRPL.
Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.
After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.
Q: How to claim through XUMM Wallet?
A: XUMM is a full-featured XRPL Wallet developed by XRPL Labs. You can also connect the XUMM app to your Sologenic.org account and use the DEX on your web browser.
To add a TrustLine for SOLO using the XUMM app, simply download the app from XUMM.
1- Follow the on-screen instructions to create or import your wallet in the XUMM app. Once that is done, you need to fund your account with at least 10 XRP. After funding your account, click the “+” Add” button on the middle-right side of the screen.
2- Choose, “Sologenic” from the list of issuers.
3- Click “SOLO” from the left menu and click “Sign to add token”
4- Confirm the transaction details and “Slide” the button to sign and submit the transaction.
5- Now you can confirm SOLO is added and you can receive and send SOLO to this account.
Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.
After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.
Q: How to claim through XRPTOOLKIT?
A: XRPTOOLKIT is a full-featured web-based toolkit for many operations on the XRP Ledger. You can connect and sign transactions through hardware devices such as the Ledger Device, D’CENT, Cobo Vault, and XUMM.
1- Head to the https://www.xrptoolkit.com website, click “Get Started” and connect your wallet.
Once your wallet is connected you will be redirected to the “Accounts” tab. Here you can see the assets your currently hold in your wallet. Click “+ Add Asset”
2- From the “Asset” list, click “SOLO (Sologenic)” and click “add”.
3- Using your wallet, sign the transaction.
4- After you have signed the transaction, you can see the SOLO as a Trusted Assed in the list with “Active” status.
Your SOLO and XRP balance is now considered eligible for the SOLO airdrop. Please note that the snapshot will be taken on Dec 24th, at 8:00 PM UTC and your balance as of this date and time will be considered for the amount of the airdrop you will receive.
After the snapshot, the airdrop amount (calculated based on the total number of claims) will be automatically distributed to this wallet and no further action is required from your side.
Q: How to claim through Ledger Devices or D’CENT?
A: Please check the instruction on how to claim using the Sologenic.org DEX. You will have to connect your hardware wallet to sign transactions. Once you connect your hardware wallet to Sologenic.org, follow the on-screen instructions to sign transactions and add SOLO currency to your account.
Alternatively, you can use the XRPTOOLKIT website to also connect your hardware devices and sign transactions.
Q: How to add Trustline manually and claim through my private wallet?
A: You can simply create a TrusLine to the Sologenic gateway with the following information:
Sologenic Gateway (Issuer): rsoLo2S1kiGeCcn6hCUXVrCpGMWLrRrLZz
SOLO Currency Code: 534F4C4F00000000000000000000000000000000 Limit: 400,000,000
Q: What if your XRP is on an exchange?
A: If you have your XRP on a centralized exchange (e.g. Binance) you should check with your exchange to see if they support the SOLO airdrop. The SOLO Core Team is also reaching out to exchanges to inform them about this upcoming airdrop but whether they accept the airdrop or not is up to them and you (If too many users ask their exchange, they may contribute due to popular demand).
Alternatively, you can always take custody of your assets in your own personal wallets such as the SOLO Wallet, XUMM, or Ledger Device. This way, you can be sure to claim the airdrop.
Q: What if your SOLO is on an exchange?
A: If you have your SOLO on a centralized exchange (e.g. Probit) you should check with your exchange to see if they support the SOLO airdrop. The SOLO Core Team is also reaching out to exchanges to inform them about this upcoming airdrop but whether they accept the airdrop or not is up to them and you (If too many users ask their exchange, they may contribute due to popular demand).
Alternatively, you can always take custody of your assets in your own personal wallets such as the SOLO Wallet, XUMM, or Ledger Device. This way, you can be sure to claim the airdrop.
Q: How to support the Sologenic Ecosystem?
A: We are building an ecosystem that is going to disrupt trading assets and by having you by our side, our community will be stronger and more powerful.
Ways to contribute:
* Provide feedback on DEX and Wallet apps
* Find bugs on DEX and Wallet apps
* Contribute to the code (https://github.com/sologenic)
* Create a local community in your region
* Spread the word and donate to the cause
Q: Interested in joining the core team?
A: If you are a developer with a passion to develop on the XRPL, please send us an email to info@sologenic.org. SOLO Core team is young, energetic, vibrant, and multi-cultural. Let’s talk!
