Sologenic calls for DeFi to learn from CeFi's detrimental mistakes in star-studded panel
New York, New York--(Newsfile Corp. - December 8, 2022) - Sologenic, a sophisticated ecosystem utilizing the on-demand tokenization of a wide range of assets, has announced its sponsorship of the Benzinga Future of Crypto Conference which occurred in New York City on December 7, 2022.
Sologenic Head of Growth, Favio Velarde, was featured on a panel titled, "The DeFi Infrastructures Taking the World by Storm" alongside representatives from Ripple, Prime Trust, Osmosis DEX, and Goodwin Procter LLP, on Wednesday, December 7th at 11 am EST.
"It was a quite riveting panel discussion considering the synergy of the outline Benzinga was able to put together. When we talk about Sologenic's ecosystem, we have to talk about the XRPL, and having Ripple on the panel definitely made our input more compelling in terms of how highly we talk about this blockchain in particular. Moreover, Prime Trust provided key insights from the custodian point of view, and Osmosis, a decentralized exchange on its own blockchain built on top of the Cosmos-SDK, just like Sologenic's new layer-1, Coreum, reinforced the power of decentralization and security from an exchange lens," said Favio Velarde, Sologenic Head of Growth.
Sologenic, built on top of the XRP Ledger, offers a myriad of financial services within DeFi. Designed specifically for traders and enterprise and institutional players, Sologenic's DEX offers a mix of always-on, fractional, and cross trading between assets to avoid capital gain taxes. Furthermore, Sologenic intends to fully leverage tokenization technology to tokenize real world assets, including stocks, ETFs and securities. As one of the premier projects on the XRP Ledger, Sologenic is well equipped to foster mass integration into decentralized financial systems.
In recent weeks, following the various insolvency and bankruptcy crises within the centralized crypto ecosystem, Sologenic has experienced escalated interest in the proof-of-solvency mechanisms engrained in the platform's infrastructure. These mechanisms provide a way for anyone to audit the reserves of Sologenic, and confirm the value of their underlying assets. By proving the solvency of the digital asset holdings, investors can be assured that their deposits are safe on the Sologenic network. Transparency is not only a core value of Sologenic, but also a core value of DeFi… and one that should be ingrained in every DeFi infrastructure moving forward.
"The crypto projects that will stand the test of time are those built with integrity and developed with consumers best interests in mind - not money, notoriety, or success in any other form," added Velarde, when prompted to discuss the requirements for a successful DeFi platform. "A lack of transparency and absent consumer protection procedures may cause the desecration of any credibility crypto once had. This is why a discussion on DeFi infrastructure is needed now more than ever - we as an industry need to ensure DeFi does not make the same mistakes CeFi has made."
For more information on Sologenic's participation at the Benzinga Future of Crypto conference, please visit https://www.benzinga.com/events/crypto/. To stay up to date on Sologenic and its proof-of-solvency mechanisms, please follow @realSologenic on Twitter.
About the Sologenic Development Foundation
The Sologenic Development Foundation is an independent community of developers actively working on various open-source projects and use cases around the SOLO. More information can be found on www.sologenic.org.
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