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: Samudra Protocol
Currency: SPT (SPT)
Issuing account: rG8BNLfzyv7pKzocqAQghsQdvZfn2YnCN
Distribution accounts: r9bkjqYt4LB4gK6coCwFc8N2AGEnts2khu
This is revision number 1, signed May 13, 2023 by rG8BNLfzyv7pKzocqAQghsQdvZfn2YnCN
Description: Samudra Protocol is a blockchain-based platform that provides a range of solutions for ocean exploration and conservation. By leveraging the security, transparency, and decentralization of blockchain technology, Samudra Protocol aims to create a more efficient and effective approach to underwater mapping, search and recovery, marine archaeology, sea exploration, and environmental monitoring.
The Samudra Protocol token (SPT) is the native utility token of the platform and is designed to facilitate transactions and incentivize participation in the ecosystem. SPT will be used to pay for services on the platform, such as data licensing, subscription-based services, and consulting services. Users who hold and stake SPT tokens will also have the opportunity to participate in governance and decision-making processes within the platform. Overall, the SPT token will play a crucial role in driving the growth and adoption of Samudra Protocol and its mission to protect and conserve our oceans.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
SPT token has several unique selling points that differentiate it from other tokens in the blockchain space. Firstly, it is the first token designed specifically for ocean exploration and conservation, with a focus on providing solutions for environmental monitoring, marine data analysis, and search and recovery operations. This specialization allows SPT token to offer unique insights into the complex and ever-changing world of ocean ecosystems.
Secondly, SPT token is designed to incentivize participation in the platform, with staking and governance mechanisms that allow users to play an active role in shaping the future of the ecosystem. SPT token holders can participate in governance decisions, receive rewards for staking, and vote on proposals related to the development of the platform.
Thirdly, SPT token provides access to valuable ocean data and services, allowing users to purchase access to information and tools that are not available elsewhere. This creates a sustainable ecosystem where users are incentivized to contribute their own data and expertise, creating a virtuous cycle of knowledge creation and sharing.
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 purpose of issuing the SPT token is to facilitate transactions within the Samudra Protocol ecosystem and incentivize participants to contribute to the platform's growth and development. The SPT token serves as a means of exchange for accessing Samudra Protocol's ocean exploration and conservation solutions, such as underwater mapping, search and recovery, marine archaeology, sea exploration, and environmental monitoring.
The SPT token also enables stakeholders to participate in the governance of the Samudra Protocol platform by voting on key decisions, such as the allocation of development resources, the adoption of new features, and the implementation of changes to the protocol's consensus mechanism. This gives token holders a direct say in the future direction of the platform and ensures that the interests of the community are aligned with those of the project.
While other existing tokens may have similar use cases or functionality, the SPT token's unique value proposition lies in its specific focus on ocean exploration and conservation, and its integration with the Samudra Protocol platform. This creates a niche market for the token, which can help to drive demand and increase its value over time.
Whitepaper/sales material: https://docs.samudraprotocol.com/
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://samudraprotocol.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).
Self-assessment revisions
| Revision | Date |
|---|---|
| Revision 1 | May 13, 2023 |