OpulenceX July 3, 2023


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: OpulenceX
Currency: Opulence (4F70756C656E6365000000000000000000000000)
Issuing account: rs5wxrBTSErywDDfPs5NY4Zorrca5QMGVd
Distribution accounts: rNfwQpyqTyHTWSCU3Dg1vBAkDaqGMQExA, rwbESKjMan8dmZuKyeN8c1SqSRcEK3HUcf

This is revision number 1, signed July 3, 2023 by rNfwQpyqTyHTWSCU3Dg1vBAkDaqGMQExA

Description: OpulenceX is solving the problem of limited financial control and dependence on traditional financial institutions. Individuals and organizations often face barriers, such as high fees, limited accessibility, and lack of transparency, which hinder their ability to make the most of their financial resources.
Opulence Token is Utility tokens that provide users with access to specific products, services, or functionalities within OpulenceX ecosystem. They are designed to be used as a medium of exchange for accessing and utilizing the platform's features such as lending & borrowing platform, NFT Marketplace, etc.

Unique selling points: What makes this token unique, compared to the broader landscape of tokens?

OpulenceX is an innovative platform that empowers individuals and organizations to take charge of their financial destinies.
We believe in the transformative potential of decentralized finance and committed to delivering an all inclusive ecosystem that combines cutting-edge technology, user-friendly interfaces, and a diverse range of financial products.

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 primary purpose of Opulence as utility token is to enable participation in the OpulenceX platform's ecosystem, granting users certain privileges or benefits.

Whitepaper/sales material: https://www.opulencex.io/static/media/whitepaper.b79d7848c28f7fd49717.pdf

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.

Legal Entity

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: opulencex.io

Website 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).

Self-assessment revisions
Revision 1July 3, 2023