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 May 11, 2022 by rLLbnGCLPWjbBun6NkJn8prTLcwiKC6MnP
Description: onXRP is an ecosystem expanding web 3.0 through content-at-scale and technical execution. As the brainchild of XPUNKs, it was created with the goal of bringing web 3.0 to the XRPL. The platform is divided into numerous components, beginning with the content module, project module, and trade module foundations. Each module will benefit the XRPL community as well as the XRPL projects. This will be accomplished first through the internet of information, and then, as time allows, through the internet of value. onXRP can be thought of as a vast, interconnected ecosystem.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
It's a hub full with articles, NFT marketplace (done, but waiting for launch XLS20), DEX interface, live tracking and soon also gaming page. We offer a go-to-market strategy for individual projects in regards to promotion, vetting and credibility. We go into a 1on1 interview with them prior to listing and advise them on numerous steps.
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?
Helping the ecosystem grow and show other blockchains that the XRPL is a great ledger to build on. There are many that don't know of understand the capabilities of the XPRL.
Additionally, we want to make blockchain accessible for everyone. We do this by creating a clear customer journey along with a beautiful UI.
Whitepaper/sales material: https://onxrp.com/wp-content/uploads/2022/04/onxrp_whitepaper_1.1-2.pdf
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.
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://onxrp.com/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).
|Revision 2||May 13, 2022|
|Revision 1||May 11, 2022|