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.
This is revision number 1, signed March 14, 2023 by rfvzvPp64Qsu7W4vx1mckf9mXMvN6qrfbv
Description: $Feed is farmed by staking $Egg - on duckies.farm.
Farming rewards token of Duckies. ALL 10,000 $Duck can eat $Feed to get Bigger. Used $Feed is immediately and permanently burned.
$Feed is the only way to grow your $Duck.
There will be enough supply of $Feed for ALL $Duck that will gain a maximum weight of 1,000KG. To increase the weight of your $Duck, the $Feed needed will be different for each $Duck. The heavier your $Duck, the more $Feed it needs to burn and increase the weight of your $Duck.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
How much $Feed is needed to increase the weight of my $Duck?
The amount of $Feed needed to increase the weight of your $Duck according to the current weight of your $Duck. This means that increasing a $Duck from 10KG to 11KG will require more $Feed than increasing a $Duck from 3KG to 4KG.
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 token represents a share of the farm, and as such, holders of these tokens are considered to be owners of the farm, with all the rights and responsibilities that come with it. These tokens can be bought and sold on various digital asset marketplaces, and the value of the token can fluctuate based on the performance of the farm.
Farmers can use these tokens to raise funds for their farm by selling them to investors. The funds raised can be used to expand the farm, purchase new equipment, or invest in new breeding and feeding technology. By using blockchain technology, farmers can also provide transparency and traceability in the farming operations, ensuring compliance with regulations and certifications standards.
Whitepaper/sales material: https://whitepaper.duckies.farm
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.
The self-assessment is made on behalf of a legal entity (for example the issuer is a general partnership, limited partnership, private limited company, public limited company, corporation, commercial association or other).
Website: https://duckies.farmWebsite information: The website should disclose the following information:
- Details of the legal entity: official name and registry code, company headquarters mailing address
- Contact information: e-mail and other contact information
- Core team members
- Whitepaper if available
The website contains relevant information.
Business plan: A business plan should entail:
- the amount of revenue and expenditure by area of activity
- obligations related to the issuing of the token
- the technical administration of the company
- operational strategy
- the intended activities related to the token
- general principles of risk management and strategy of risk management
- policy for the financing of activities.
The issuer has developed a business plan for the next 3 years.
Risk assessment: A risk assessment should include identification of, assessment of impact and likelihood and mitigation measures and status of implementation for applicable risk scenarios.
The issuer has conducted risk assessment and implemented risk management activities.
Internal policies: Critical internal policies are necessary to manage risks.
The issuer has adopted and implemented appropriate internal policies and procedures in the areas of information security, business continuity, risk management and accounting.
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).
|Revision 1||March 14, 2023|