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: XRPellet
Currency: XRPellet (585250656C6C6574000000000000000000000000)
Issuing account: rw7WTwbVaxzjPdFw2SkHY3nr97DHwaAD5g
Distribution accounts: r3Y4yZFB6pQSgeJUK8G5aFjSchy9JLBTEq
This is revision number 1, signed March 17, 2022 by rw7WTwbVaxzjPdFw2SkHY3nr97DHwaAD5g
Description: Our project is simple. We want to provide value to the XRP Ledger ecosystem through the tokenization of our BBQ Grilling Pellets, which are presented on the XRP Ledger as XRPellets.
The XRPellet token is your digital claim ticket for the bbq pellets held in our XRPellet Vault.
The XRPellet Vault is the physical location where the bbq pellets will be stored until token owners decide to redeem their property.
When you buy an XRPellet token, you are literally buying 5 lbs of bbq pellets that are held in our XRPellet Vault.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
XRPellet is a 100% commodity backed token. Each token gives you a claim to 5 lbs of BBQ Grilling Pellets held in our warehouses. These tokens can be exchanged at any time for the underlying asset.
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?
Each XRPellet token serves as a digital representation of the BBQ Grilling Pellets held in our warehouses. The token functions as your digital claim check for that inventory.
Whitepaper/sales material: https://xrpellet.com/white-paper
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: xrpellet.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 | March 17, 2022 |