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: Luxello
Currency: LUX (LUX)
Issuing account: rNEWchNdJDBhDBmQrEZiFgk9WBjX7mKbvn
Distribution accounts: rHvqT2B5nUw757n8Pa3RRPJsH9bTDqZ9Pj
This is revision number 1, signed December 20, 2023 by rNEWchNdJDBhDBmQrEZiFgk9WBjX7mKbvn
Description: Luxello represents a groundbreaking venture in the realm of real estate investment, fusing the allure of luxury properties with the security and transparency of blockchain technology. At its core, Luxello introduces LuxCoin (LUX), a native cryptocurrency meticulously designed to empower investors within the ecosystem. LuxCoin serves as the key to unlocking exclusive opportunities, enabling the creation and trading of asset-backed Non-Fungible Tokens (NFTs) that represent tangible, opulent real estate holdings.
Investors engaging with Luxello find a seamless and secure platform where the intrinsic value and authenticity of luxury properties are translated into a digital realm. Through LuxCoin, users gain access to a curated selection of prestigious properties, benefit from personalized AI-driven recommendations, and actively participate in community governance. Luxello stands at the intersection of technology and opulence, offering a transformative experience that redefines how high-net-worth individuals engage with and invest in the world of luxury real estate.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
Luxello's token, LuxCoin (LUX), stands out in the expansive landscape of tokens with several unique selling points that redefine real estate investment in the digital age:
Asset-Backed NFTs: Luxello pioneers the creation and trading of asset-backed Non-Fungible Tokens (NFTs), where each digital token represents ownership of a tangible luxury property. This innovative approach combines the security of blockchain with the intrinsic value and authenticity of high-end real estate.
Blockchain Integration for Security: LuxCoin transactions leverage blockchain technology, ensuring tamper-proof ownership records, transparent transactions, and enhanced security. The decentralized nature of blockchain provides investors with confidence in the integrity and authenticity of their digital assets.
AI-Driven Personalization: Luxello employs advanced AI algorithms for personalized property matching. Investors receive tailored recommendations based on their preferences and investment goals, enhancing the efficiency and customization of their real estate portfolio.
Community Governance: LuxCoin holders actively participate in community governance, possessing voting rights and influencing decision-making within the Luxello ecosystem. This unique feature fosters a democratic approach to platform development, ensuring the community has a say in the evolution of the project.
Exclusive Access and Benefits: LuxCoin holders enjoy exclusive access to a curated selection of luxury real estate offerings. Additionally, they gain benefits such as community events, staking rewards, and participation in governance, creating a sense of exclusivity and value for token holders.
Physical Tying of Assets: Luxello goes beyond the digital realm by physically tying luxury assets to their corresponding NFTs. This innovative step enhances the connection between the digital and physical worlds, providing an added layer of authenticity to the tokenized assets.
Luxello's unique selling points not only redefine real estate investment but also position LuxCoin as a distinctive and valuable asset in the broader token landscape. Investors benefit from a secure, transparent, and personalized experience that sets Luxello apart in the world of blockchain-based investments.
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 issuance of LuxCoin (LUX) serves a specific purpose within the Luxello ecosystem that distinguishes it from existing tokens, including native tokens like XRP or others. LuxCoin is purposefully designed to align with the unique characteristics and requirements of the Luxello platform, addressing the following key purposes:
Asset Tokenization: LuxCoin facilitates the creation and trading of asset-backed Non-Fungible Tokens (NFTs) that represent ownership of luxury real estate properties. This specialized functionality caters to the intricate needs of tokenizing high-value physical assets, providing a seamless and secure method for investors to engage in the luxury real estate market.
Tailored Ecosystem Integration: LuxCoin is intricately woven into the Luxello ecosystem, aligning with the platform's goals, features, and governance model. Its integration ensures that the token serves as the lifeblood of Luxello's unique functionalities, from personalized AI-driven property matching to community governance.
Community Governance and Engagement: LuxCoin is not merely a transactional medium but a key element empowering Luxello's community. The token grants holders voting rights, enabling them to actively participate in decision-making processes, fostering a sense of community ownership and engagement. This level of democratic influence distinguishes LuxCoin from existing tokens.
Physical Tie to Assets: LuxCoin goes beyond digital representation by physically tying luxury assets to their corresponding NFTs. This unique feature enhances the token's purpose by strengthening the link between the digital and physical worlds, ensuring authenticity and uniqueness in the representation of tangible assets.
Incentives and Benefits: LuxCoin provides exclusive benefits to its holders, including access to curated luxury properties, staking rewards, and participation in community events. These incentives create a dynamic ecosystem where LuxCoin is not just a means of transaction but a token that enhances the overall Luxello experience for its community.
In summary, LuxCoin's issuance is driven by the specific needs and goals of Luxello, offering functionalities and features tailored to the luxury real estate sector. While existing tokens may serve broader purposes, LuxCoin is purpose-built to underpin the unique dynamics and requirements of the Luxello platform, providing a specialized token for asset-backed NFTs, community engagement, and the intersection of blockchain with luxury real estate.
Whitepaper/sales material: https://luxello.notion.site/cd2081e932174c74b122b9cb376afb1b?v=bad982665bcc4b9fa6f63e6475104486
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: https://luxello.tech/
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 20, 2023 |