Ascension by Reaper Financial

Ascension by Reaper Financial October 29, 2022

Ascension by Reaper Financial

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: Ascension by Reaper Financial
Currency: ASC (ASC)
Issuing account: r3qWgpz2ry3BhcRJ8JE6rxM8esrfhuKp4R
Distribution accounts: r9vjT8zy5ExjSWfkqEhyCqstzCfqMBUk52

This is revision number 1, signed October 29, 2022 by r3qWgpz2ry3BhcRJ8JE6rxM8esrfhuKp4R

Description: Ascension is an ecosystem support token that works in tandem as a compliment to RPR token.

Unique selling points: What makes this token unique, compared to the broader landscape of tokens?

ASC Token will enable passive 'super-staking' of various XRPL assets while contributing to the RPR and XRPL ecosystem.

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?

This Token's specific tokenomics will enable the use to take a passive stake of third party tokens without a token cost to the third party issuer.

There is no link to a whitepaper or sales material.

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 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 1October 29, 2022