πLaunch Pack NFT Rules
Definitions
Active user: A user who has logged in to the Application at least once within the previous seven (7) days.
Application: The TextRP application
LP NFT: Launch Pack NFT
LS NFT: Lifetime Subscription NFT
NFT: Non-Fungible token on the XRPL.
Lifetime Subscription
There is no limit to how many Launch Pack (LP) NFTs a wallet may hold.
A snapshot of wallets will be taken approximately seven (7) to thirty (30) days before the TextRP chat reward program launch. One Lifetime Subscription (LS) NFT will be airdropped per wallet that holds at least one (1) LP NFT.
LS NFTs activate a free six(6)-month subscription to the full functions of the TextRP application. This includes a personal phone number (upon feature activation) and 600 messaging credits per year.
The subscription renews automatically, provided the user logs in with a LS NFT in the wallet at least 30 days before the subscription expires and the wallet contains the LS NFT at the time of renewal.
If the LS NFT is transferred away from the account wallet, the subscription for that account will end on the expiration date of the current subscription.
After a LS NFT activates or renews a subscription, if the LS NFT is transferred away from the account wallet, the NFT is not valid for activation or renewal of another account subscription until after the current subscription expiration date.
If the subscription expires, the user is downgraded to a free account, loses access to their personal phone number and will have 30 days to upgrade their account or add a LS NFT to retain their number. Thirty (30) days after expiration, their phone number is unassigned permanently and the user would be assigned a new number if they upgrade again.
Each active account with at least one LS NFT will receive 600 free bonus messaging credits per year, prorated and credited on the first day of each month (50 monthly credits.) Credits do not multiply for holding >1 LS NFT.
Chat Rewards
10% of every on-ledger sale in the TextRP application will be allocated to a Chat Reward pool. On-ledger sales include user purchases of credits and subscriptions via the XRPL.
Seven (7) to thirty (30) days before the launch of the public beta version of the TextRP application, all unsold Launch Pack (LP) NFTs will be destroyed or βburned,β leaving only the purchased LP NFTs will be in circulation.
The Royalty Rewards program will launch after the public beta is completed.
Each LP NFT held by active users accrues a portion of the reward pool allocation for each on-ledger sale using the formula
<aside> πͺ Reward amount per NFT = Royalty allocation β LP NFTs in circulation
</aside>
Active users accrue rewards for each Launch Pack NFT they hold. Users may claim rewards when the total amount accrued > 1 XRP by logging in to the TextRP application and claiming the reward on the Launch Pack NFT panel. The reward will be sent to the account wallet address.
If a Launch Pack NFT is transferred away from the active userβs wallet, it forfeits any accrued rewards.
This program will be active for ten years after program launch. TextRP reserves the right to modify the program after the period and other terms may apply.
The LP NFTs grant access to claims from the royalty reward pool. However, TextRP makes no promises, guarantees, or warranties on amount of rewards that can be earned or any income potential.
LP NFTs do not represent nor constitute at any time past, present, or future, any shares in TextRP or its owner Xurge Digital Lab, LLC.
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