xr77 tokenomics

The mystery

 33000 total supply.

 

xr77 is mysterious and will always have secrets known only to holders, but here are some reasons you might wish to hold it.

 

With xr77, Holders are CEOs, there are no decisions made behind closed doors in smoky rooms that you can like or lump.

xr77 is a token for loyal XRDC community members and also for premium high end investors looking for something with attractive conditions and lots of benefits. xr77 is the first true store of value on the XRPL, as we are pegging our minimum price @ $1740. Of course some unlikely set of circumstances could effect that temporarily, such as a malicious actor willing to spend money to obtain xr77, and sell at a loss, or a malicious dump. In this scenario we would use the tools available to us to reset the price back to $1740.

 

Token will be placed on sale for $1740. 77% of the sales proceeds will be sequestered into a fund to buy a basket of XRPL currencies. These will be swing traded actively for profit, with the exception of XRP, which will be liquidated and distributed to holders in the event of a moon shot. We will also be DCAíng into our sister token XRDC in a permanent and ongoing basis to offer buy support. One additional feature of the trading pot is that anyone choosing to exit will have their exit 77% offset from the pot, providing a buy support cushion on top of our ability to freeze rogue price action.

 

23% will go into running the project, that is to say, essential projects, wages, marketing etc. The main project will be the continued optimization of our trading bot. Our trading bot will be deployed across several projects on the XRPL to trade for profit whilst simultaneously providing market liquidity support. 77% of the bot trading profit will go to our bag of XRPL investments whilst the remaining 23% goes into project expenses.

 

Let’s say, for example, that XRP finally goes on it’s moon mission, you’ve invested XRP into XR77 @ $0.34 and XRP is now worth $100. At this point it will probably be tempting to sell XR77 so you can fomo into XRP. Instead though you can take a vote as a holder, and the community XRP can be sold and dropped to holders in whatever ratio is preferred.

 

Not only that, the community can vote as to what happens with it’s tokens. Let’s say, and this is purely for example, that, as a community we decide we would like to spend money on NFTs, or a collaboration, or software, a utility program, or even a real world purchase such as Gold or even a painting. This can be decided by vote and then implemented. Your XR77 holdings will determine the weight of your vote.

 

Lending. In a world first, XR77 can offer you custodial lending. That is to say, you can use the XR77 in your wallet as collateral for a loan. You will be able to borrow up to 33% of your investment value to repay as and when you wish. We will accomplish this using trustlines. Having the capability to freeze asset trustlines, you can keep your XR77 in your wallet, voluntarily have it frozen and once you’ve repaid the balance of your loan it will be unfrozen again. This will be done manually to begin with, but once we have the tools in place, we will do this in a trustless smart contract setting. We are seeking to build an alternative financial system for our community, to replace all of the financial holdovers from the legacy banking system.

 

It will also be a requirement to hold a minimum number of our sister token XRDC in order to be eligible for a loan.

 

Protecting XR77

 

Of course, all of the above is meaningless if we can’t protect xr77 from selling which erodes value. xr77 isn’t a stable coin, but I think it’s reasonable to say it will be a store of value on the XRPL. We are not going to allow the floor price to go under $1740. We will do this by eliminating low buy orders and ensuring all holders are disincentivized to dump. Without some guarantees of price stability, lending, and all of the things we would like to do with this project will be impossible.

 

We want to offer something to our loyal hodlers who have travelled with us on the XRDC experiment, but we also can’t risk having our ecosystem skewed in favour of people who have had zero average cost to buy in.

 

All “airdropped” xr77 will be subject to a six month hold and will then be unfrozen in increments TBD. Additionally, all drop recipients will be asked to explicitly acknowledge and accept our rules of market buying and selling. Any xr77 received from a drop which is sold maliciously or against our terms will have their account frozen permanently and will forfeit their share of the trading pot and any voting rights now or in the future. Yes, that is correct, you can dump your xr77, but you no longer have any access to the project trading pot and permanently lose the ability to take loans.

 

When you buy XR77, you’re not just buying a token, you are buying your share of the accumulated trading pot and access to that liquidity for loans and trading. Early unfreeze. Airdropped XR77 will be eligible for early unfreezing if the holder is willing to match his airdropped holdings with an equal purchased quantity. Defending our market. We now have tools which have been developed with XRDC to be used in order to defend XR77 from malicious actors. XR77 is not a blackholed project. We will be issuing stipulations for minimum buy levels and maximum allowed weekly/ monthly sells in order to protect our minimum price point. There will be no maximum selling price though so any new liquidity coming in to the market can push the price up. The total supply of XR77 will never exceed 33000 unless unanimously voted on by holders for an amendment. What we seek to avoid is what we saw @ XRDC where accumulation was possible much lower than the presale price (and in the case of the airdrop at zero cost) and we had a large number of market participants accumulating in order to scalp. We also want to keep sell pressure to a minimum. It will very likely be much less of a problem, as investors will be carefully curated. We will provide liquidity for the market via our market making bot. Selecting our XR77 holders is the most effective way to keep problems out. The rules will be simple, no buy orders below a minimum threshold, (around $1740, TBD) . XR77 which is purchased at market rate can be traded freely (above minimum buy in), airdropped XR77 is subject to initial lockup with maximum percentage sells (to be determined). We will permanently ban anyone who has received airdropped XR77 who is ignoring or breaking our rules. Additional We may allow some XR77 to be sold at a discount to the floor price, if investors are nominated by existing community members. For example, 2 trusted community members would nominate an investor, and if voted in by the community, they will be given the opportunity to buy in at a discount to the market rate, provided they commit to adhering to our rules. This will be the only way to receive at discount aside from drops to hodlers. XR77 will function not only as a speculative asset but as a store of value for the XRP ledger. Additional features will be unlocked in secret to holders once they have been voted in as members to our discord group. These additional features of XR77 will only be disclosed to trusted hodlers who have agreed to abide by our rules. One lesson we have learned is that not everyone is ready for full disclosure. It has to be earned.