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Our Chief Product Officer Dmitri Litvinovich took part in his first Sologenic AMA this month. In case you missed it, here is the secondĀ part!
You can read the first partĀ here.
āToken burnā is useful for any project. It controls the amount of token circulation and provides more significant incentives to investors. Does Sologenic have a plan for burningĀ tokens?
Transaction fees generated through transfers and decentralized trading will be burned instantly to lower the total supply of SOLO coins and make SOLO coins more valuable.
SOLO is one of DeFiās projects. What is the next target in SOLO Development? Will SOLO present a Staking Mechanism? As we all know, the DeFi Project must have and develop its own Dapp. Can you name the Dapp that you are preparing for now, and how does your DappĀ work?
I like to express appreciation to the team behind that; itās a great idea that you donāt see that often. I think our primary motivation to keep our community informed about later trends, rumors, new projects, etc. I like it aĀ lot.
Can you tell us the motivation and benefits for investors to hold the SOLO token for the long term? What are the teamās plans to make SOLO a top project on Coinmarketcap?
Weāre working hard on building an ecosystem where SOLO acts as a core. For example the tokenization of stocks presented in stable coins that are tradable and redeemable against SOLO. NOTE- this is not investment advice.
I have a question about SOLO Cards. Will there be discounts on transactions for using the SOLO CARD? What will be the benefits, and in which countries will it be available?
We are first planning to launch the program for Europe and the UK. Followed by gradual expansion to other regions. As for the benefits, there are quite a few, but I prefer to announce them closer to the launchĀ date.
What is your biggest challenge in the future and how do you solveĀ it?
Challenges are what makes life enjoyable. Overcoming them is what makes our job interesting. We are more focused on opportunities and bright ideas. Sometimes regulations for crypto are challenging, but itās resolvable.
Are you ok with the USAās regulations? What about yourĀ country?
We are compliant with the regulations we are presented in, not working with the USA at thisĀ time.
The only way the blockchain industry will expand and grow is to have users that will be able to use products with ease. What are some of the unique features of Sologenic that would help attract moreĀ users?
We are making financial products available for anyone, anywhere, any time. Just with your mobile device, you can access any stock or ETF you want. Isnāt thatās cool &Ā easy?
Would you explain what Proof of Solvency is? And which characteristics make it better than the traditional Proof of StakeĀ (PoS)?
We expose an endpoint that allows for the public to view the inventory of real-world assets via APIs and corresponding assets on XRPL. Additionally, Sologenic is to conduct 3rd party audits that would certify the authenticity of theĀ assets.
What does Tokenizing an asset mean? What are the benefits of it & why would one want to convert rights to their holdings into digitalĀ tokens?
There are many advantages, such as accessibility and availability, fractional buying or selling, trading, speculating, investing- everything without institutional bureaucracy at the speed ofĀ XRPL.
What happens when SOLO completes itsĀ goal?
We set a newĀ one!
Marketing is a central element for every project so that everyone knows the potential that a project can bring. What is your strategy to attract new users and investors to Sologenic and keep them longĀ term?
We have a great marketing team, but you also need to have a great product to succeed in the long run. We have both combined, thatās our strategy inĀ short.
Can you explain the main benefits of Tokenizing Assets like Stocks & Fiat? Why should we choose Sologenic rather than any other platform?
Nowadays, in many places, you can only do that through private banking. This is not available for 90% of the worldās population. Weāre bringing this to anyone, anywhere!
If you would like to ask Dmitri more questions, you can connect with him onĀ Twitter.
Find out more about Sologenic on its website and follow Sologenic on Twitter for all the latestĀ updates.
Join the Sologenic Telegram group for updates, SOLO discussion, giveaways, and to take part in futureĀ AMAs!
AMA with Sologenic CPO Part 2 was originally published in Sologenic on Medium, where people are continuing the conversation by highlighting and responding to this story.
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