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 15, 2022 by rpTZV6Xz5Snh4qWVuBKHKaTpHM4XKSCeFq
Description: xPug is a token, NFT, and application. There are 2000 xPug tokens which can be exchanged for xPug NFTs at a rate of 10:1, meaning 10 xPug tokens will be burned in exchange for 1 xPug NFT. These tokens can be primarily earned through playing with your virtual pet on the xPug Companion App, which is playable on mobile devices and desktop.
The methods of earning these tokens vary from playing minigames with your pet on the Companion App, participating in giveaways on official xPug social media, and by winning design contests where the community votes on the best dressed pug.
The winning design gets minted into an official xPug NFT, where the creator and community both receive one. There will be 200 xPug NFTs redeemable by using xPug token (100 premade, 50 community made with 2 of each).
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
The tokens can be earned through a mobile/desktop application.
Half of the NFTs are community created and voted upon.
Some accessories used in the xPug Companion App are modeled after the 2500+ user submitted designs we received upon creating the xPug Twitter (@xpug_xrpl).
There will be some feature connecting the xPug Companion App to the NFTs.
All of the assets in the project are created in house by 3D generalists (modeling, animating, texturing, scripting).
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?
The purpose of using our own token rather than using an existing is that we are able to have direct control of the supply (burning, distribution) and can incentivize users to use our app and participate in giveaways.
Whitepaper/sales material: https://drive.google.com/file/d/1BCgGk0BW0aLWhDvJcV44SalmBL-sXgZ6/view
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 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://xpug.pet/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).
|March 15, 2022
|March 15, 2022