DUBAI, United Arab Emirates, July 20, 2022 (GLOBE NEWSWIRE) — On June 10, 2022, the Sologenic team announced the birth of a partnership with Beethoven X – the first next-generation AMM protocol on the Fantom Opera Network. Today two SOLO pools with FTM and USDC pairs respectively go live and introduce powerful DeFi capabilities for the XRPL native token.
A highly scalable blockchain with low transaction fees, Fantom has become home to numerous DeFi protocols with a total locked value (TVL) of $853.98 million as of June 30, 2022. Leveraging the capabilities of blockchain and powered by Balancer’s AMM model technology, Beethoven X has become one of the leading DEXs in the Fantom ecosystem.
The Solo Fortissimo and Solo & Steady pools practically work as a one-way staking option for SOLO holders, as the pool strongly favors the token with a balance of 80 to 20 tokens. Despite the lack of smart contracts and DeFi on the XRP ledger, users now have a cross-chain SOLO yield farming solution.
One step closer to interoperability with all blockchains
To interact with all blockchains, the Sologenic team has partnered with Multichain, the ultimate router for Web 3.0. Its infrastructure, designed for any cross-chain interaction, facilitates transactions from almost any blockchain without the need to route or issue from each token’s native chain.
Sologenic’s cross-chain collaborations will further shape the path towards interoperability with other popular networks in the pipeline such as ETH, AVAX, NEAR, ATOM and MATIC.
About Sologenic
The “Sologenic Development Foundation” is an independent community of developers actively working on various open source projects and use cases around the tokens SOLO and CORE. Visit www.sologenic.org for more information
Contact
Favio Velarde
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