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: Treasury
Currency: UtiliteX (5574696C69746558000000000000000000000000)
Issuing account: rKDsnVfFMzdqrU8Bqno37d29L8ZW3hvrf8
Distribution accounts: rsUKrCTRXhEqxKVyeT7YNGDgzhV7MRPpX7, raFwUqgmUDahiuyo4urYP5L2YD4FZSDGG4
This is revision number 1, signed September 16, 2022 by rKDsnVfFMzdqrU8Bqno37d29L8ZW3hvrf8
Description: TREASURY XRPL is bringing real-world utility to the XRPL
EDUCATE - An e-learning academy aiming to educate new XRPL stakeholders about XRP, XRPL, how blockchains work, how to trade, and how to protect themselves, rewarding students with a small drop of our $TRSRY token for every lesson completed.
REWARD - 5% passive income on their holding.
NURTURE - Launchpad platform allowing holders to vote for start-up projects who will receive XRP funding to bring their projects to life, rewarding those that voted to back them with a holding once they have launched.
PROTECT - an insurance policy against rug-pulls
In addition to the above, Treasury will be bringing another first to XRPL through their NFT Bonds. Each NFT will carry a unique date and value in $TRSRY which will be paid out when the maturity date is reached. The NFT holders will be free to trade them as they please, or hold them for the payout.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
$UtiliteX is the utility token issued by Treasury XRPL to serve a number of purposes in it's ecosystem:
Holders of $UtiliteX are able to use their holding to vote for projects in our Venture Platform.
In addition to this your holding of $UtiliteX will make you eligible for a payout against other projects that may rug/close. The payout amount will depend on the amount of $UtiliteX you hold.
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 purpose of this token as outlined above gives the holders access to aspects of our ecosystem including our Venture platform supporting new projects starting up on the XRPL, and Insur, our insurance product providing payouts to holders of $UtiliteX in the event that another project's token they may hold rugs or closes (subject to eligibility criteria).
Whitepaper/sales material: https://www.trsryxrpl.com/wp-content/uploads/2022/03/WHITEPAPER-2.0.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.
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: https://www.trsryxrpl.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).
Self-assessment revisions
| Revision | Date |
|---|---|
| Revision 1 | September 16, 2022 |