Ferda Network

Ferda Network April 28, 2022

Ferda Network

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: Ferda Network
Currency: FRD (FRD)
Issuing account: rEsdnLqeFgXSTeexMAFB7ZauRoMMWvSL4e
Distribution accounts: rJSk4d9FYDUXgPo4P8tm35Qfc9ugwRw5NW

This is revision number 3, signed April 28, 2022 by rJSk4d9FYDUXgPo4P8tm35Qfc9ugwRw5NW

Description: The Ferda Network is a smart contract network that uses XRPL. This implies it can combine a number of great qualities to create a decentralised application ecosystem. In a nutshell, Ferda is designed to help businesses to scale into XRP.
The success of the open-source ecosystem, decentralised cryptocurenccy and public cryptocurrencies has generated an awareness that decentralized internet protocols may be utilized to significantly enhance socioeconomic infrastructure.

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

We envisage FRD a related technologies as a future aspect of web 3.0 standards, solving the critical challenge of selling content and getting paid for every interaction .

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?

FRD as a medium of exchange in a secure, opt-in social interaction ecosystem based on the Ferda Network With FRD Token network users, Content Creators, Advertisers, and Marketplace transactions are all possible with the FRD system.

Whitepaper/sales material: https://ferda-network-1.gitbook.io/ferda-network-whitepaper/

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: Ferda.to

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 3April 28, 2022
Revision 2April 28, 2022
Revision 1April 28, 2022