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: XNET
Currency: XNET (584E455400000000000000000000000000000000)
Issuing account: rPB7vXTeWrQ5nxEpQbLvay8nfJUJfeecYL
Distribution accounts: rwVHsTDyGejt6XppRnYD4x4SWsDuCpsn9H, rBHAb6kMHP7CCfvp272b85QvJ27Fokqh2x, r4fKebUdWszqF4jj8CPqJNYnvdbXQJgpkV, rMYVjPpBsD2RCE4LaFC3tDz7LHiQnAW2Wk
This is revision number 1, signed May 17, 2023 by rPB7vXTeWrQ5nxEpQbLvay8nfJUJfeecYL
Description: We are developing a web3-powered NSFW streaming platform that utilizes the XRPL for decentralized payments that offers NFT membership via the XSPUNKS NFT collection, and introduces $XNET as a medium of exchange on the XNET platform. We plan to introduce our platform as an x'App.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
The XSPUNKS team has introduced the first NSFW digital fungible token called $XNET on the XRP Ledger, acting as a medium of exchange on the XNET platform.
$XNET will be used for subscription costs on content creator's profiles on the XNET platform.
Visitors to the XNET platform MUST be in possession of an XSPUNK NFT to enter creators profiles or will have to pay the creators monthly subscription fee in $XNET.
Content creators will be able to receive tips in the form of $XNET.
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?
As mentioned previously, the primary purpose of the token is for payments through subscriptions on a NSFW platform. For this reason, we wanted to issue our own token. The XRPL hugely benefits us through it's amazing capabilities of providing liquidity and fast transaction speed, but the marketing for XRP & Ripple/ the tokens purpose do not bear resembalance with our branding nor platform.
Whitepaper/sales material: https://xnet-1.gitbook.io/xnet-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.
Sovereign Entity
The self-assessment is made by a soverign entity (i.e. not a legal entity, such as a general partnership, limited partnership, private limited company, public limited company, corporation, commercial association or other).
Website: https://xnet.cam/
Website information: The website should disclose the following information:- Contact information: e-mail and other contact information
- Core team members
- Whitepaper if available
The website contains relevant information.
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 | May 17, 2023 |