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.
Project name: CLUXA
Currency: XCL (XCL)
Issuing account: rKsZeu9RQcxFad7gWS1N4idyr4TPsQPYTN
Distribution accounts: rMCpedj3Q53MgUTkLj35p83bxH3PnZnNat
This is revision number 1, signed March 21, 2023 by rMCpedj3Q53MgUTkLj35p83bxH3PnZnNat
Description: CLUXA aims to build an ecosystem that provides an abstraction layer of services, making it easy for anyone to access the Web3 technology stack. Our team understands the importance of making Web3 technologies more accessible and enabling the development of utility applications.
We identified the need for an abstraction layer that reduces the complexity of solutions implementations. We aim to democratize access to these technologies and promote their use in a user-friendly and intuitive manner. Initially, we will provide everyone with easy and transparent utility tools to manage their decentralized data, such as identity, credentials, and miscellaneous digital and tangible assets, leveraging the XRPL blockchain's practical simplicity and low costs. In the next phase, our focus will be on developing utility applications that expand the scope of blockchain technology beyond its current use cases. We will collaborate with partners to explore and develop solutions for decentralized identities and proofs of credentials, citizen STEM, and information distribution. Our essential deliverable milestones include the development and release of CLUXA utility tools, cross-chain functionality, and additional utility applications.
Unique selling points: What makes this token unique, compared to the broader landscape of tokens?
We believe that the issuance of XCL tokens will create a stronger sense of community and encourage more active participation within the ecosystem. By giving our community a say in the project's future direction, we aim to foster a more democratic and decentralized ecosystem that benefits everyone involved.
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?
To promote participation and democratization within the CLUXA ecosystem, CLUXA team decided to issue 10 million governance tokens under symbol XCL. These tokens will be distributed among early adopters and participants and provide holders with the power to vote on significant changes to the utility applications strategy and new features proposals.
Whitepaper/sales material: https://cluxa.com/whitepaper.html
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: The issuer does not have a bug bounty program.
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://cluxa.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||March 21, 2023|