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: CHING
Currency: CHING (4348494E47000000000000000000000000000000)
Issuing account: raeatrkxnL8rLu8a6mqmBzoGeGtFHoFLZg
Distribution accounts: rPvKJvRxKms1xJqkjEQiNAnsff54VKaRrb, rKA4tMR8ejpSDriLog54CeHmBTiFWWBU7e, rs3gVsqM5LypFMtrB7JQHUYvj28mXmCyxu, rKGmSiVmHeqJQ2qXFKYn9vMdkLUe9yq1ze, rapxR1QiA1YdsRec87BY2X8xQqVLVBDovz, rUz1Zcb9LcRVSQdJQijTsqEFB1PRP5eEPm
This is revision number 1, signed April 15, 2024 by raeatrkxnL8rLu8a6mqmBzoGeGtFHoFLZg
Description: Introducing CHING, the dynamic value token at the heart of the CHIT-CHING ecosystem. Unlike conventional tokens, CHING signifies a revolutionary leap forward in the XRPL landscape, embodying resilience, growth, and community empowerment.
With CHING, we've reimagined the concept of value, offering more than just a store of wealth. It serves as a beacon of hope and opportunity, with a structured release schedule ensuring fair distribution and long-term sustainability. Through its strategic allocations, CHING lays the foundation for a robust and prosperous ecosystem.
What sets CHING apart is its integration with CHIT, the ecosystem's rescue token. Together, they create a symbiotic relationship, fostering trust and resilience within the community. As investors receive CHIT tokens through airdrops and convert them into CHING over time, CHING becomes a symbol of empowerment for those affected by fraudulent activities. Join us on this transformative journey with CHING, where value meets innovation, and together, we redefine the future of cryptocurrency.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
CHING stands out in the broader landscape of tokens due to its unique role in compensating victims of crypto scams. While many tokens focus solely on value appreciation or utility within a specific ecosystem, CHING goes beyond by embodying a sense of responsibility and community support.
One of the key features that sets CHING apart is its integration with CHIT, the rescue token within the CHIT-CHING ecosystem. CHING serves as the value token, representing not just a store of wealth but also a symbol of hope for those affected by fraudulent activities. Through its structured release schedule and allocation for various purposes, CHING ensures fair distribution and long-term sustainability.
Furthermore, CHING's role in compensating victims of crypto scams adds a layer of social responsibility and ethical consideration to its utility. By empowering affected investors to convert CHIT tokens into CHING over time, CHING becomes a tool for resilience and recovery within the cryptocurrency community. This unique aspect of CHING highlights its commitment to supporting investors and fostering trust in the ecosystem, making it a standout token in the crypto landscape.
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?
The issuance of a new token like CHING, rather than utilizing an existing token like XRP, serves several distinct purposes within the CHIT-CHING ecosystem. Firstly, CHING is specifically designed to serve as the value token within the CHIT-CHING ecosystem, representing not just a cryptocurrency but also a symbol of hope and resilience for those impacted by crypto scams. This unique purpose aligns with the project's mission to restore investor trust and provide compensation to victims of fraudulent activities.
Additionally, CHING offers functionalities and features that are tailored to the needs of the CHIT-CHING community, which may not be feasible with existing tokens like XRP. For example, CHING's structured release schedule, allocation for various purposes such as team development and marketing, and its role in compensating victims of scams are all unique aspects that contribute to the token's distinct value proposition.
Furthermore, issuing a new token allows the CHIT-CHING project to maintain autonomy and flexibility in its development and governance processes. By creating a token specifically for its ecosystem, CHIT-CHING can implement custom features, incentives, and protocols that are aligned with its objectives and the needs of its community, without being constrained by the limitations of existing tokens. This level of customisation and control is essential for realising the project's vision and ensuring its long-term success.
Whitepaper/sales material: https://chitching.com/docs/
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: This is not applicable for this token.
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: www.chitching.com
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 1 | April 15, 2024 |