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 May 24, 2022 by rMuhg6cHRnNr4g4LnHrXvTrra6D47EG5wp
Description: We Created PALEOCOIN to power the new age of innovation in paleontology via block chain technology. We go into very specific details in our white paper about the utility of our token and the ecosystem we are developing.
However, In short, we seek to create a PALEOCOIN centered ecosystem where audiences of the current paleontological landscape can interact in ways that benefit all parties involved. Amongst these audiences are professional paleontologists, researchers from universities, curators from museums, hobbyists, and the public. By using block chain technology, we will allow these audiences to interact with each other in the realms of our three-pillared ecosystem. The three main pillars of our ecosystem consist of original fossil NFTs on the sologenic marketplace, the application we plan to develop with a tiered system of access, and the PALEOCOIN foundation. Please read our whitepaper to learn more about the individual pillars of our ecosystem. Essentially, we plan to introduce a more advanced way of connecting people who love the paleontological sciences regardless of their status in the realm of education. We plan to increase interconnectivity within these audiences so as to achieve greater advancement and exposure to the scientific field of Paleontology all while allowing holders of PALEOCOIN to participate in decision making of further developments and utilities of the token.
In summary, we designed PALEOCOIN as a cryptocurrency to solve real world problems and bring about unique innovating utilities to the field of paleontology. Its use case will ultimately educate people about paleontology; allow innovations to take place in the way people practice and share paleontology, and ultimately help researchers do their scientific research. We have aimed our core values and projects at getting all members of society involved in the field of paleontology at any age of life. We would love to have your support with our future endeavors as we acknowledge and appreciate you. We hope to hear from you soon. If you have any questions about our project, please feel free to reach out to us at [email protected]
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
PALEOCOIN is the first token that is created for the Paleontology community on the XRPL. A product of this tokens utility will help Masters students, PhD students and any college student interested in taking up Paleontology as a major. Additionally, it will also be used as a means to access additional utilities that will be created for the Paleontology community in the future as discussed in our white paper. These utilities will benefit professors, museums, paleo clubs/societies, and fossil collectors.
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?
There are currently no tokens or projects on XRPL that is focusing on Paleontology. We are developing innovating utilities, building an ecosystem, marrying blockchain and different stakeholders within the Paleontology community so that we can facilitate new and more efficient ways of doing things in Paleontological sciences. The PALEOCOIN token is in the heart of the ecosystem and the utilities as described in the whitepaper is backbone to the functionality of the ecosystem.
Whitepaper/sales material: https://www.paleocoins.com/_files/ugd/3a3838_02b9993006684c8a87ba42811a9b7725.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: 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://www.paleocoins.com/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).
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