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 September 29, 2022 by r4kqnJriQA9Yx6GMywY99g3mYbuA2KcPjP
Description: XRPayNet is going to bridge the gap between the spending demand of crypto holders and businesses accepting crypto globally.
Card and mobile App payments
will be made to retailers with
crypto with settlements in
Every business will receive
settlement in their standard fiat
currency as the consumer spends
their crypto – all in one
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
We are proceeding on the basis that in order for crypto to become mainstream it must work in harmony with fiat currency. therefore we are building a crypto project where our native coin XRPayNet will work hand in hand with fiat currency
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?
there are a lot of coins on the XRPL. Some have their use cases and serve their purpose in their own field, some are meme coins. We wanted to create a token so that we could have a unique native coin for our project that only had this use case
Whitepaper/sales material: https://xrpaynet.com/wp-content/uploads/XRPayNet%20Whitepaper.pdf?_t=1653945807
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: The issuer does not have a bug bounty program.
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://xrpaynet.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).
|Revision 1||September 29, 2022|