Sologenic - Add Trustline (2024)


IMPORTANT: Sologenic is currently running on SIMULATOR mode and therefore all transactions must take place on the TESTNET XRP Ledger.

Creating a Trustline

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 Sologenic, requires an Authorized Trustline to allow assets to be withdrawn from the platform.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.

Sologenic - Add Trustline (1)

Sologenic Trustline structure

Follow the instructions below to set up a Trustline to Sologenic for an asset.

Please note that the following instructions are to be used by advanced users who know details about the inner workings of the XRP Ledger transactions and Trustlines.
Use at your own risk. Sologenic is not responsible for any loss of your assets or misconfigurations.

1 Obtain Trustline info

First, navigate to the "DEX" Section on the website or the app.

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Next, click "Add Trustline".

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Next, search for the asset you wish to establish the Trustline for.

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And finally, note the "ISSUER", "CURRENCY" and "LIMIT" values, and leave this page open for the time being.

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2 Establish a Trustline from your wallet

Using your favorite wallet, create and sign a transaction on the XRP Ledger as follows (Replace with your values) To see how to submit transactions to the XRP Ledger, you can use the Sologenic JS SDK https://github.com/sologenic/sologenic-xrpl-stream-js or follow guides provided by the https://xrpl.org Please note that adding a Trustline increases your reserve requirements by 5 XRP. To learn more visit: https://xrpl.org/reserves.html

 { "TransactionType": "TrustSet", "Account": "{YOUR WALLET ADDRESS}", "LimitAmount": { "currency": "{CURRENCY CODE}", "issuer": "{ISSUER}", "value": "{LIMIT}" }, "Flags": 2147614720 //Be sure to includee this flag which set the NoRipple flag on this trustline. } 

For example if you are using sologenic-xrpl-stream, your code will look like:

 $ mkdir sologenic-trustline && cd sologenic-trustline
 $ npm init
 $ npm install sologenic-xrpl-stream-js

Create a file with the following code, for example: trustline.js

 'use strict'; const ƨ = require('sologenic-xrpl-stream-js'); (async () => { try { const sologenic = await new ƨ.SologenicTxHandler( { server: 'wss://s.altnet.rippletest.net', }, { clearCache: true, queueType: "hash", hash: {} } ).connect(); await sologenic.setAccount({ address: '{YOUR WALLET ADDRESS}', secret: '{YOUR WALLET SECRET}' }); const tx = sologenic.submit({ TransactionType: 'TrustSet', Account: 'rNbe8nh1K6nDC5XNsdAzHMtgYDXHZB486G', LimitAmount: { currency: '{CURRENCY}', issuer: '{ISSUER}', value: '{LIMIT}' }, Flags: 2147614720 }); }).on('validated' => { console.log('Success'); });.on('failed' => { console.log('Failed'); }); console.log(await tx.promise); } catch (error) { console.log('Error:', error); } })(); 

And execute the code

 $ node trustline

3 Authorize the Trustline from Sologenic

Now that you have established the Trustline from your wallet, you need to authorize it by going back to the Sologenic Platform.
Click "Continue".

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Next, enter your XRP wallet address. (The one you just established a Trustline from) and then click "Confirm".

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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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Copyright © 2020 Manticore Securities AS. All rights reserved

Sologenic - Add Trustline (2024)

FAQs

Is Sologenic built on XRP? ›

Sologenic DEX is a cutting-edge decentralized trading platform within the XRP Ledger, offering a unique blend of functionalities for trading cryptocurrencies, stablecoins, and tokenized assets like stocks, commodities, and ETFs.

Is solo dex safe? ›

Solo-Dex products are MRI compatible (MR Safe), echogenic, sterile, single use only and FDA approved.

How do I add a TrustLine to XRP? ›

How to setup a trust line. 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.

What wallets support Sologenic? ›

Crypto Wallets

If security and complete control over your crypto assets are your top priorities, you may wish to buy and store Sologenic (SOLO) using a non-custodial wallet, such as KuCoin Wallet or MetaMask. The leading Web3 crypto wallets allow you to buy or swap thousands of cryptocurrencies easily.

Can you put Sologenic on Ledger? ›

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.

What is the downside of Dex? ›

Some of the potential drawbacks of using a crypto DEX are: Lack of liquidity: DEXs may have lower trading volumes and fewer market makers than centralized exchanges, which can result in wider spreads and higher slippage.

Is Sologenic a good project? ›

Over the last 30 days, Sologenic had 14/30 (47%) green days. According to our historical data, it is currently not profitable to invest in Sologenic. The price of Sologenic increased by 8.46% in the last 1 year, while the coin's 3-year performance is -89.20%.

Are Dex traceable? ›

But the top DEXes have good enough liquidity and market depth for the major coins, and in fact, DEX's liquidity is more accurate and traceable. KYC is often required for withdrawals exceeding a specific amount or specific trading products, and it is typically region-locked for most CEXes.

How do I get rid of XRP Trustline? ›

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 is a trust line in crypto? ›

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.

How do I get XRP to show up in my trust wallet? ›

Before you can buy the XRP tokens, you will first need to activate the XRP token in your wallet. To do this, click on the icon on the right-hand corner of the Trust Wallet app, search for XRP and click on the slider icon to enable the XRP token in your Trust Wallet.

How do I add a token contract address to my trust wallet? ›

Adding a custom token with the Trust Wallet mobile app

Select the + sign in the top right. Choose the Network. Enter the contract address of the token. Best practice is enter it by pasting or using the scan/camera feature.

How do I claim Sologenic airdrop? ›

Users who're holding SOLO in a private wallet don't need to do anything to receive the rewards. Users who're holding XRP in a private wallet need to add TrustLine to the Sologenic gateway by using the SOLO Wallet app or the XUMM app by adding SOLO as a currency to their existing account.

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