Integrated Criteria for Obtaining a Quality Mark in XSTO's XRPL-Secure Ecosystem.
Project approval and research process: • Approval by researchers: Projects must be approved by XSTO researchers, meeting all set quality and safety standards. Approved Quality mark projects can be found on XSTO's website. • Permission for research: Coin developers give explicit permission to initiate coin research. This research is crucial and always takes place only, once a project has submitted the application form. Identity, transparency and communication • Identification and verification: Coin developers must identify and verify themselves, for example through KYC or Doxing procedures, to ensure transparency and accountability. • Provision of necessary information: Necessary information must be provided to obtain the seal of approval. • Communication of issues: Any issues relevant to XSTO and the project must be reported.
Financial health and stability • Transparency in finances: Projects should provide full transparency on their financial status, including sources of funding, expenditures and investment plans. • Sustainable business model: A compelling and sustainable business model that demonstrates the long-term viability of the project.
Financial health and stability • Transparency in finances: Projects should provide full transparency on their financial status, including sources of funding, expenditures and investment plans. • Sustainable business model: A compelling and sustainable business model that demonstrates the long-term viability of the project.
Preventing scam activity • No history of scam activities: Projects must have no history of involvement in or association with scam activities. • Active fraud prevention: Evidence of measures and protocols to prevent scam activities within the project and in interactions with investors. Wallet checks and financial integrity • Wallet checks: Regular audits of project wallets to ensure that no suspicious activity takes place. • Financial integrity: Evidence that funds are properly and ethically managed and used in accordance with the stated objectives of the project.
History free from deception • No misleading history: Projects should have a clear history with no instances of past deception or unethical behavior. • Honesty in marketing and communications: Marketing materials and communications should be free of misleading or exaggerated claims. Project quality and sustainability • Long-term vision and mission: Developers should have a clear long-term vision and mission, with an emphasis on security for token investors. • Operational token circulation duration: The token must be active on the XRP-Ledger for at least 3 months.
Documentation on community engagement • Necessary documentation: A white paper, roadmap, mission, vision, website and one or more social channels are required. • Community path: There must be a clear communication path to both coin developers and coin investors. Ethics and responsibility • Knowledge of and compliance with terms and conditions: Coin developers must be fully aware of and comply with all terms and conditions of XSTO. • Ethical conduct: Coin developers must not harm or cause distress to the XSTO-project and must refrain from actions that may intentionally damage the project.
Implementation and Enforcement • In-depth evaluation: XSTO's Filter Research System (FRS) performs an in-depth assessment of all aspects. • Periodic Review: Regular review of projects to ensure they continue to meet Quality Mark standards. • Feedback and improvement opportunities: Projects are given the opportunity to receive feedback and make improvements.
These integrated criteria ensure that projects receiving the Quality Mark within XSTO's XRPL-Secure Ecosystem meet rigorous standards of quality, transparency, accountability and ethical behavior, contributing to the overall integrity and value of the ecosystem.
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