This is a self-assessment, meaning, it is information that the issuer has written themselves. The XRP Ledger Foundation does not recommend or endorse any individual token. Read more.
Basic information
Project name: BITx
Currency: BITx (4249547800000000000000000000000000000000)
Issuing account: rBitcoiNXev8VoVxV7pwoQx1sSfonVP9i3
Distribution accounts: rGWDWrmk4GBgMbWkTUnpFKqK6W31S9xvqE
This is revision number 2, signed August 5, 2023 by rGWDWrmk4GBgMbWkTUnpFKqK6W31S9xvqE
Description: BITx is bringing together some of the traditional values of many of the proponents of Bitcoin and the superior technology of the XRP Ledger.
BITx is on a mission to be the continued effort that began with Bitcoin, by becoming a widely held digital asset that is actually viable to hold and transact with peer-to-peer, due to the speed, low transaction cost, security and open/public decentralised nature of the XRP Ledger. Something which, the native asset of the ledger, XRP, may never be able to itself become, due to the unique circumstances of its distribution.
Additionally, during the distribution of BITx, holders of other XRPL tokens may exchange unwanted/unsaleable XRPL tokens by exchanging them for BITx, in this way we hope to give something of value to those who may otherwise have received nothing in return for such tokens. BITx is helping to clean-up.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
The BITx Airdrop is just one BITx per qualifying trustline.
The Airdrop is being completed manually to allow for a relatively strict vetting of wallets to avoid token farmers/bad actors.
The 'BITx' Airdrop will likely take a number of years to complete.
Alongside the Airdrop BITx is allowing holders of unwanted XRPL tokens to exchange such tokens for BITx, helping to clean-up wallets and giving something in return for tokens that the holders may otherwise have received nothing.
Purpose: What is the reason for issuing a new token, rather than using an existing? What purpose does this token serve, that is not possible with the native XRP token or other already existing tokens?
BITx is on a mission to bring 'Bitcoiners' and some of the traditional values of many proponents of Bitcoin to the XRP Ledger with the digital asset 'BITx', in order to continue the effort that began with Bitcoin towards global, decentralised, peer-to-peer transactions.
Whitepaper/sales material: https://t.co/L7S1QQc1uP
The whitepaper includes concepts of how and when are the tokens created, total supply and if applicable the distribution models and total amount of allocation.
Risk reminder: The issuer has disclosed a warning or a reminder of the risks associated with crypto/tokens.
Bug bounty program: The issuer does not have a bug bounty program.
Sovereign Entity
The self-assessment is made by a soverign entity (i.e. not a legal entity, such as a general partnership, limited partnership, private limited company, public limited company, corporation, commercial association or other).
Website: https://twitter.com/getbitx
Website information: The website should disclose the following information:- Contact information: e-mail and other contact information
- Core team members
- Whitepaper if available
The website contains relevant information.
Legal requirements: Legal requirements may vary per country and project. It is the responsibility of the legal entity to ensure legal compliance.
The issuer has assessed whether and what legal requirements apply to the project (licenses, jurisdictions, anti-money laundering regulations etc).
Self-assessment revisions
| Revision | Date |
|---|---|
| Revision 2 | August 5, 2023 |