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 January 10, 2024 by rMYmma64idd8Wq3HgH7iqiBuUdHLhQYuY4
Description: After 3 successful NFT launches, Money Minded Apes, Top G Apes, Money Minded Mutants, Money Minded Apes are finally launching the long awaited utility token $mula.
Some ideas our community has had for $mula so far is to use it as a currency to mint NFTs in the future, exchange it for a discount code or even full merch purchases outright in some instances, or spent to bring your own product to market at our merch store. Potentially staking of $mula itself in the future, but in exchange for what the community hasn't decided yet.
Join us as we embark on this new chapter, where every member has a voice, and every ape has a purpose. Let's co-create, innovate, and elevate Money Minded Apes to new heights.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
Fixed at 10,000,000, 0% transfer tax, 100% of supply is being distributed to Money Minded Apes NFT holders through a staking bot that calculates rewards based on quantity NFTs held, not including ones listed for sale.
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?
$mula is designed to intertwine specifically with our NFT collections, providing bespoke benefits and utilities that align with our community-centric vision. This includes exclusive access to rewards, staking options, and community events tailored to our NFT holders. Unlike the broader use case of XRP, which focuses on efficient global transactions, $mula is crafted to serve as a cornerstone of the Money Minded Apes ecosystem, fostering a sense of belonging and incentivizing participation in a way that aligns closely with our brand's ethos and the specific needs of our community.
Whitepaper/sales material: https://wp_mma.ar-io.dev
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 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://moneymindedapes.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).
|January 10, 2024
|January 10, 2024