A crypto funding platform is launching a $1 billion airdrop for XRP and holders of the protocol’s native token.
Sologenic (SOLO), an ecosystem constructed on the XRP Ledger (XRPL) that tokenizes a variety of property from conventional monetary markets, is launching a brand new decentralized non-fungible token (NFT) market on the XRPL.
So as to juice the brand new market’s ecosystem, Sologenic is airdropping 200 million of its native token, SOLO, to buyers who already maintain SOLO or XRP, in response to a brand new announcement from the corporate.
SOLO is at present buying and selling at $5.36, that means the entire airdrop can be price $1.07 billion at time of writing.
To assert the free SOLO tokens, crypto buyers want to carry their SOLO and/or XRP on centralized exchanges which are supporting the airdrop or create a “Trustline” from their non-public pockets to Sologenic.
The snapshot for the airdrop shall be taken on December twenty fourth and Sologenic will divvy up 100 million SOLO a chunk among the many eligible XRP and SOLO accounts. Buyers who set up Trustlines will obtain their tokens on January twentieth.
Sologenic’s new market will allow customers to mint NFTs underneath eight completely different classes, together with movement graphics, music, and sports activities collectibles. It is going to additionally permit customers to mint and seal a number of NFTs underneath a single transaction charge on the XRP Ledger.
Explains Bob Ras, co-founder of the Sologenic Improvement Basis,
“Contemplating the present person engagement on Sologenic DEX, the extent of pleasure throughout the SOLO group and the necessity for a quick and cost-efficient NFT market within the business, I consider this new decentralized NFT market shall be a game-changer for each creators and collectors.”
Learn extra concerning the SOLO airdrop here.
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