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.
Project name: Sanctum Ecosystem
Currency: Sanctum (53616E6374756D00000000000000000000000000)
Issuing account: rNcqT1tds4vdroichNKuTh3Ppd8KAdFHnN
Distribution accounts: rJZMZhfK5JUMysr2ZHjfQmcM4MaVrpejjM
This is revision number 2, signed October 12, 2022 by rJZMZhfK5JUMysr2ZHjfQmcM4MaVrpejjM
Description: Sanctum is a utility token in the Sanctumchain ecosystem. Sanctum is used across Sanctumchain projects such as SanctumStake, SanctumNFT's, SanctumGame, SanctumMerch, Sanctum Charity and in future projects such as SanctumSwap, SanctumKit, and many others. Sanctum will be the only currency used for transactions between projects such as staking tokens, buying and selling NFT's, ordering souvenirs, and play-to-earn games.
Sanctum is a community token, which at the beginning of our development, sanctum will be given free to all XRP community. This serves as the start of market defense and the massive deployment of tokens. Once all projects are up and running, Sanctum will become invaluable for its usefulness in various projects of its own ecosystem.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
With many new ecosystem tokens, Sanctum is competing and will be a pioneer in the XRP blockchain, starting from reliable products and well-integrated systems. Sanctum comes with simplicity and small resources, but we believe, in the future we will grow rapidly and become a professional ecosystem platform.
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?
our vision and mission is to make everything available on XRP with the largest, sustainable, and accessible ecosystem for everyone. This is important in order to provide convenience for all communities especially in the experience of financial services, digital arts, passive income, currency exchange, and charities.
Whitepaper/sales material: https://www.xsanctumchain.com/whitepaper
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.xsanctumchain.comWebsite 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).
|October 13, 2022
|October 12, 2022
|October 12, 2022