IMPORTANT: Sologenic is currently running on SIMULATOR mode and therefore all transactions must take place on the TESTNET XRP Ledger.
Create a Trustline using test.xrptoolkit.com
Sologenic Ecosystem uses the XRP Ledger Blockchain to conduct tokenizations and thus allowing the tokenized assets to be traded/exchanged on the XRP Ledger Built-in Decentralized Exchange. There are two types of Trustlines in the XRP Ledger, a regular one-way Trustline, and an Authorized two-way Trustline. Sologenic, requires an Authorized Trustline to allow assets to be withdrawn from the platform.
To withdraw your tokenized assets from Sologenic, you need to setup a Trustline from your personal wallet to Sologenic (Issuer) and request Sologenic gateway to Authorize this Trustline once it is established.
In this guide you will be using https://test.xrptoolkit.com to create Trustlines.
Please note that test.xrptoolkit.com is a third-party app.
1 Obtain Trustline info
First, navigate to the "DEX" Section on the website or the app.
Next, click "Add Trustline".
Next, search for the asset you wish to establish the Trustline for.
And finally, copy the "ISSUER", "CURRENCY" and "LIMIT" values, and leave this page open for the time being.
2 Establish a Trustline using test.xrptoolkit.com
First, head over to https://test.xrptoolkit.com If you don't have a TESTNET wallet, go to https://xrpl.org/xrp-testnet-faucet.html and generate testnet credentials. Please note that adding a Trustline increases your reserve requirements by 5 XRP. To learn more visit: https://xrpl.org/reserves.html
Next, you will have to choose your signing method.For the purpose of testing, you can login using a TESTNET secret account. Once entered, click "Add Account".
IMPORTANT: NEVER enter a mainnet secret key, ALWAYS use generated testnet credentials
Then, click "+ Add Asset".
Next, click "Custom Edit" and paste the values you copied from Sologenic.
Click "Next".
Then, confirm the transaction.
Once transaction is confirmed, you can see the asset in your dashboard with the status of "Unauthorized" .
3 Authorize the Trustline from Sologenic
Now that you have established the Trustline using test.xrptoolkit.com, you need to authorize it by going back to the Sologenic Platform.
Click "Continue".
Next, enter your XRP wallet address. (The one you just established a Trustline from) and then click "Confirm".
It may take a few seconds for your Trustline to become authorized. If your Trustline is not "authorized" please make sure you set up the Trustline from your wallet correctly and then click the "Auth" button to try authorizing again.
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FAQs
Sologenic is not responsible for any loss of your assets or misconfigurations. First, navigate to the "DEX" Section on the website or the app. Next, click "Add Trustline". Next, search for the asset you wish to establish the Trustline for.
How do I add Trustline to my Sologenic wallet? ›
Sologenic is not responsible for any loss of your assets or misconfigurations. First, navigate to the "DEX" Section on the website or the app. Next, click "Add Trustline". Next, search for the asset you wish to establish the Trustline for.
How do I add a trustline to XRP toolkit? ›
To add a trust line for a new asset on the XRP Ledger, you can use XRP Toolkit. After you have connected to XRP Toolkit, navigate to Account > Assets in the menu or press Add Asset on the Overview.
How do I set up Trustline? ›
Quick instructions with pictures
- Click on this link: XRPL Services.
- In the "Search" field, do a search for the token you wish to set a Trust line to.
- When the desired token is displayed, press the Set Trustline link beside the token.
- Press the Confirm button.
- Press the Open in the Xumm App button.
The Sologenic ecosystem is built on XRP Ledger to make the platform censorship-resistant, fast with a throughput of 1500 TPS (transactions per second), secure, and has integrated smart contract facilities.
Is Sologenic on coinbase? ›
Yes, Sologenic is currently available on Coinbase wallet.
Is XRP toolkit a wallet? ›
You can use the XRP Toolkit to send and receive payments, create escrows or trade a wide selection of assets. You have the freedom to choose from convenient mobile wallets to ultra-secure hardware wallets and are always in complete control of your own assets.
Is XRP toolkit safe? ›
XRP Toolkit has been designed from the ground up with strong security standards, and only handles public data and public keys. XRP Toolkit uses ripple-lib and the JSON-RPC Websocket to access the XRP Ledger.
How do I remove Trustline from XRP Toolkit? ›
Your total balance will remain the same, but your available balance will decrease by 5 XRP while the trust line is active. If you want to remove a trust line and release the previously reserved XRP, ensure that the asset's balance is zero and click Remove in the Trusted Assets table.
What chain is Sologenic on? ›
Sologenic is a BEP-20 token on BNB Smart Chain blockchain. It trades under SOLO ticker. Sologenic token supply is 20,464,442 SOLOs.
The max supply of Sologenic coins is 400 million. The coins are issued on the XRP Ledger. To reduce the overall amount of SOLO tokens, Sologenic uses a deflationary mechanism.
What is an XRP TrustLine? ›
Trust lines are structures in the XRP Ledger for holding fungible tokens. Trust lines enforce the XRP Ledger's rule that you cannot cause someone else to hold a token they don't want. This precaution is necessary to enable the XRP Ledger's use case for community credit among other benefits.
Is setting up a TrustLine safe? ›
Creating a trust line does not expose your wallet to any attack. It just lets your wallet receive the asset in question. It can however result in tax obligations in certain jurisdictions if you receive an airdrop.
What is a TrustLine on the XRP Ledger? ›
Trustlines are a feature of the XRPL which lets users decide what tokens they are willing to hold. This helps users control what happens to their account. Transactions which explicitly indicate a desire to hold an asset like an offer to buy a token will automatically create a trustline behind the scenes.
Does Ledger support Sologenic? ›
Please follow these steps to use your Ledger device to manage XRP-based NFTs on Sologenic DEX: Go to the Sologenic DEX page. Hover over the wallet icon in the top-right corner and choose Connect Wallet. Unlock your Ledger device with the XRP app open.
Can you put Sologenic on Ledger? ›
Trustlines enable Sologenic users to conduct transactions in the XRP Ledger where they can trade fractions of their assets 24/7 with other Blockchain users. By having a Trustline, users become eligible to receive possible dividends for their assets on the Blockchain.
What is the contract address of Sologenic token? ›
The contract address of Sologenic is rsoLo2S1kiGeCcn6hCUXVrCpGMWLrRrLZz.
