TALLINN, Estonia, Jan. 08, 2022 (GLOBE NEWSWIRE) -- The Sologenic team reported a great amount of participation and exchange support for the airdrop with almost 340,000 Trustlines established to the Sologenic’s gateway on the XRP Ledger, and more than 30 top centralized exchanges supporting that including, Binance, Okex, Houbi, Bithumb, Upbit, Bybit, Bitpanda, Uphold and more.
The snapshot was successfully completed at block number “68552402” at 8:00:01 pm UTC on December 24th, 2021 according to the schedule announced.
According to the official report, the total holdings that successfully participated in the SOLO Airdrop were 22,439,948,543.12 XRP, and 80,512,388.19228289 SOLO. Considering that the total Circulating Supply of XRP is 45,577,198,013, the holdings participating correspond to almost half of the XRP circulating supply.
As the demand for XRP sparked with the SOLO Airdrop popularity, some high volume transactions were detected by Whale Parser, including the movement of 449.3M XRP on December 19 in two separate transactions by one single entity.
The Airdrop ratio was calculated by dividing the 200M airdrop supply in two; one half for XRP holders, one for SOLO holders, and then dividing each amount by the total holdings that participated for each token. This formula provided a ratio of 0.004456338205 SOLO per each XRP Holding, and 1.2420448858 SOLO per each SOLO Holding.
The distribution will start on Jan 20th, 2022 at 8:00 PM UTC with 200M SOLO being unlocked and transferred by the system. The XRP and SOLO holders on decentralized wallets will have to allow some time for the deposits to appear. And for holders on the centralized exchanges, the distribution is expected to start after Jan the 20th.
With great exchange support on the SOLO Airdrop, the Sologenic team has disclosed that it remains in contact with these exchanges, and various new ones, for the listing of the SOLO token within the first quarter of 2022.
About Sologenic
The “Sologenic Development Foundation” is an independent community of developers with the passion of making the Sologenic Ecosystem successful. It consists of developers who are actively working on various open-source projects and use cases around the SOLO.
Contact
Favio Velarde
press@sologenic.org
As an enthusiast deeply entrenched in the blockchain and cryptocurrency space, I've closely followed the latest developments, including the Sologenic project and its recent airdrop. My extensive knowledge in this domain allows me to provide insights into the intricacies of the Sologenic ecosystem and the events mentioned in the provided article.
The Sologenic team, based in Tallinn, Estonia, recently conducted a successful airdrop, garnering significant participation and support from the community. The airdrop involved the establishment of almost 340,000 Trustlines to Sologenic's gateway on the XRP Ledger. This was a substantial achievement, with over 30 top centralized exchanges backing the initiative, including major players like Binance, Okex, Huobi, Bithumb, Upbit, Bybit, Bitpanda, and Uphold.
The snapshot for the airdrop was taken at block number "68552402" on December 24th, 2021, at 8:00:01 pm UTC, as per the pre-announced schedule. The total holdings participating in the SOLO Airdrop were 22,439,948,543.12 XRP and 80,512,388.19228289 SOLO. Notably, this corresponds to nearly half of the total circulating supply of XRP, highlighting the substantial interest and demand generated by the airdrop.
Intriguingly, the article mentions Whale Parser detecting high-volume transactions, such as the movement of 449.3M XRP on December 19th, 2021, in two separate transactions by a single entity. This indicates significant activity and interest in the XRP market surrounding the time of the airdrop.
The airdrop ratio was calculated by dividing the 200M airdrop supply into two halves—one for XRP holders and the other for SOLO holders. The resulting ratio was 0.004456338205 SOLO per XRP holding and 1.2420448858 SOLO per SOLO holding.
Distribution of the airdropped tokens is set to begin on January 20th, 2022, at 8:00 PM UTC, with 200M SOLO being unlocked and transferred by the system. Holders on decentralized wallets will need to allow some time for deposits to appear, while centralized exchange holders can expect distribution to commence after January 20th.
The Sologenic team, buoyed by the robust support received during the airdrop, is actively engaging with various exchanges, both existing ones and new entrants, for the listing of the SOLO token in the first quarter of 2022.
In conclusion, the Sologenic airdrop has not only demonstrated widespread community participation and exchange support but has also catalyzed significant activity in the XRP market. The strategic roadmap outlined by the Sologenic team suggests continued momentum and potential for further developments in the first quarter of 2022.
