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: ARK
Currency: ARK (ARK)
Issuing account: rf5Jzzy6oAFBJjLhokha1v8pXVgYYjee3b
Distribution accounts: rsF912HyBZS8JWqStmsM8Xa5m9RhJg6Vvi
This is revision number 1, signed December 29, 2022 by rf5Jzzy6oAFBJjLhokha1v8pXVgYYjee3b
Description: We live in a time when men call right wrong and wrong, right. When evil is called good and good is called evil, where to help another is to harm one's self. These are the times that try man's Soul. ARK will serve those who aim to build the Soul of others through financial deployment.
We will sow the soul by utilizing ARK token and a proven blockchain voting mechanism of Reaper Financial. ARK holders will determine the distribution of funds to highly vetted charities based on their vote. Holders of ARK token will have 1 vote for every ARK token they hold.
We will inflate the supply of ARK by 1 million tokens each month, sell them at market and the funds will be distributed with 50% of the proceeds going to the charities based on their votes, 25% will buy RPR token and be airdropped to holders of ARK, 25% will buy ASC token and be airdropped to holders of ARK.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
ARK utilizes the same tokenomics as Reaper Financial. There is no other project on the blockchain like it.
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?
With our model, it is necessary to have control of the issuing wallet in order to inflate the supply by 1 million ARK each month.
Whitepaper/sales material: https://www.reaper.financial/ark-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: www.reaper.financial
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 | December 29, 2022 |