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 November 18, 2022 by rKodkxhdjaXCoBmXuNtR6nahn4XyVFcPKP
Description: Sanctuary will be released in the Sanctum ecosystem as a reward token for Sanctum investors.
Sanctuary utility is as a stimulus token for all project on XRP Ledger. Projects at XRPL will take turns getting Airdrops for their holders.
(using voting), the Airdrop amount is 1% of the project tokens they hold (the total supply will be converted to the equivalent of Sanctuary because the supply of each project is different and generates % x tokens they hold).
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
With a stimulus project for all projects in XRPL, the holders of each project token will receive prize funds and this applies multiples. The more they hold the project token, the bigger the prize fund they receive.
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?
Sanctuary is the only token with a stimulus project on XRPL. This makes Sanctuary known and held by all investors in all XRPL projects.
Whitepaper/sales material: https://www.xsanctumchain.com/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.
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://www.xsanctumchain.comWebsite 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 1||November 18, 2022|