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 March 7, 2023 by rsDDS5vmJtiE1rt1UmsSpNp9wVAkeQZbdk
Description: xCLOUD is a token on XRPL with a function of reward system.
The xCLOUD Reward Engine is a program that offers various rewards to xCLOUD token holders based on their holder status.
The percentage of the reward that a holder receives will depend on the market performance of the xCLOUD token.
The reward engine is designed to incentivize and benefit xCLOUD holders in multiple ways.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
Xcloud is a token on the XRP Ledger that boasts a unique and innovative reward system. What sets this token apart from others is its ability to incentivize users to hold and use the token in a way that benefits both the user and the broader Xcloud community.
Unlike traditional tokens that offer rewards based on staking or mining, Xcloud's reward system is tied to the usage of the token. The more Xcloud tokens a user holds and uses within the Xcloud ecosystem, the greater their rewards will be.
In addition to its unique reward system, Xcloud is also at the forefront of innovation when it comes to the creation of AI-generated NFTs.
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?
In short, the purpose of creating a new token like Xcloud is to offer a unique set of features and benefits that are tailored to a specific use case or market niche. While existing tokens may offer some similar features, a new token can provide added value and differentiation that sets it apart from the competition.
Additionally, Xcloud's focus on AI-generated NFTs is a feature that is not found in other existing tokens. By leveraging the power of AI, Xcloud is able to create completely unique and highly sought after NFTs that collectors will be eager to add to their collections.
Whitepaper/sales material: https://www.xcloudxrp.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 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://www.xcloudxrp.comWebsite 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).
|February 24, 2024
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|March 7, 2023