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 2, signed April 8, 2022 by rwviexUDi61Fgxf656wAd8NYG1t58X3wig
Description: TalentChain is a platform for self-monetization and aims to provide access to personal tokens all across the globe.
It enables “Talents” - creators or makers, to launch their own token in order to build their own digital economy, in which their communities can participate.
In this way, talented individuals like artists, streamers, gamers, crypto or web3 influencers can build their community and interact with it, by giving community members the possibility to earn and collect benefits or perks, as well as purchasing services, goods or NFTs.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
While exploring the trends around the new creator economy, we made the following observations:
Lines between supporters & creators are blurring into community ownership while crypto plays a major role in facilitating the ownership economy.
This evolution completely changes the paradigm, as the creator becomes a platform of its own.
This new economy is enabled by an ecosystem of web3 tools, where personal tokens play a key role: they give creators control over their relationship with their supporters, enabling more direct interactions.
On the other side, the fans' support for their favorite creators becomes more than a simple act of help that wasn't previously rewarded. Supporters will do all they can to assist the creator’s success, since the creator's success would determine the token’s success leading to profit for the community of fans holding the token.
However, we also learned that they are several issues and barriers to the development of personal tokens: creating a personal token is currently costly and not user-friendly, and leveraging personal tokens is difficult for creators due to a lack of dedicated decentralized trading platforms and plug-and-play tools.
TalentChain aims at solving those issues with the following benefits:
- Affordable, user-friendly token creation
- Plug-and-play token economy features
- Direct and personalized Creator promotion through a Marketplace
- Instant, Low fee Personal Tokens trading through a Decentralized Exchange
TalentChain is rooted in the belief that openness and transparency are better for the world. That's why we are fully open-source, building in public, and on a path to progressive decentralization for the creator economy.
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?
TALENT is the network's utility token.
Token holders can use TALENT to participate in governance, earn rewards by depositing TALENT into a liquidity pool, and use it to convert to and from Talent Personal Tokens.
TALENT has been created to provide liquidity to the personal tokens markets and to create an alternative market where every TALENT token can be exchanged for personal tokens from the Talent Pool Marketplace (TPM).
Whitepaper/sales material: https://www.talentchain.io/White%20Paper%20TalentChain%20V0.2%20February2022.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.talentchain.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).
|Revision 2||April 8, 2022|