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: DEMON
Currency: DEMON (44454D4F4E000000000000000000000000000000)
Issuing account: rB2166NuHTZinxkLZcxTb8Y29HxyfqGZTW
Distribution accounts: r494V5c91do6iQzD26zAZAiGdLtruadtsx
This is revision number 1, signed March 27, 2024 by rB2166NuHTZinxkLZcxTb8Y29HxyfqGZTW
Description: In upcoming endeavors, the DEMON token is set to play a fundamental role as a conduit for token gating, a mechanism designed to regulate access to key features and experiences within future projects. For instance, it will act as a digital key granting entry to intricate elements like a meticulously crafted facade building nestled upon a specific parcel of land, thus paving the way for immersion within the expansive and intricately linked environments of the xSPECTARverse.
By harnessing the power of the $DEMON Token, participants can not only unlock these exclusive experiences but also contribute to offsetting the financial burdens associated with the conception and realization of such ambitious undertakings. In essence, the token serves as more than just a means of access; it symbolizes a gateway to boundless possibilities while simultaneously serving as a cornerstone in the sustainable development of these digital landscapes.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
What sets the DEMON token apart from the broader spectrum of tokens lies in its pivotal role within future projects, particularly in the context of token gating. Unlike many other tokens, DEMON serves as a digital key granting access to exclusive features and environments within the xSPECTARverse. Its uniqueness stems from its ability to act as both a gateway and a form of currency, enabling individuals to not only unlock immersive experiences but also potentially offset the costs associated with constructing these digital assets. Essentially, the DEMON token transcends the traditional role of tokens by embodying a dual function: as a means of access and as a contributor to the sustainable development of innovative virtual landscapes.
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 decision to introduce the DEMON token instead of utilizing existing options, such as the native XRP token or other established tokens, is rooted in its unique functionality within future projects, specifically in the realm of token gating. Unlike pre-existing tokens, DEMON serves a dual purpose: as a digital key granting access to exclusive elements within the xSPECTARverse and as a form of currency that potentially offsets the expenses associated with the development of these virtual assets.
This differentiation is crucial as DEMON's integration into the ecosystem provides a streamlined approach to accessing and engaging with immersive experiences, while simultaneously offering a mechanism for incentivizing participation and investment in the growth of the digital landscape. In essence, DEMON fulfills a role that goes beyond mere transactional utility, embodying a symbiotic relationship between access provision and sustainable development that distinguishes it from other tokens in the market.
Whitepaper/sales material: xrpldemon.xrp
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: xrpldemon.xrp
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 | March 27, 2024 |