PTL - Preferential Trustlines List

The holy grail: 1 Wallet = 1 Individual

Every new project launching on the XRP Ledger has the same quandary. How do you distribute your tokens without falling foul of air drop farmers?

Whilst exchanges and apps offer the opportunity (or requirement) for people to KYC by providing personal information (and in some circumstances verifying their ID), this information is only available to projects scrutinising wallets after the fact, looking for the KYC tickmark.

The current options are limited:

1. Drop to all trustlines: this has been proven time and again to be the worst possible start to most projects that adopt this model, often seeing large volumes of their initial air drops being consolidated by the air drop farmers into a single account to access future air drops only available to higher tier holders, or to see it sold in swathes causing lasting damage and a huge uphill struggle for the project having to build trust all over again, regardless of how good their proposed usecase or utility is.

2. Create a white list process: the project could establish a number of requirements for eligibility in addition to just setting the trustline. This could include following on socials, completing a form and more.

   As much as this is a step in the right direction it does not guarantee the wallet addresses are individual and legitimate, with fake and multiple emails and social media accounts easy to create.

3. Use existing projects: Drop to wallets with one or a number of trustlines to long-established projects set. They could require a minimum hold in that project to further filter the list of wallet addresses. Whilst this may help the project get a more refined set of wallets, established projects are no less victims of farmers than new ones so they are still left with no guarantee that each wallet belongs to a different individual.

With any of the above options, projects often elect to use air drop farmer databases and exclude those addresses from the air drop/distribution. Unfortunately these databases are often out of date, constantly playing catch up and the resources required to constantly query the ledger to identify new farmer accounts to add to the database is resource-heavy and time-consuming.

There is currently no means for a project to distribute tokens to wallets with full certainty that each wallet is owned by a different individual.

The PTL will be populated by genuine investors in XRPL projects who would like preferential access to Air Drops of new projects starting up. They will be required to pay a small fee to cover the costs of independent ID verification and will be required to hold a minimum holding of TRSRY to be eligible.

Projects in turn will be able to access the PTL which will be held and maintained by Treasury XRPL, for their air drops or other use, for a fee.

The project can then distribute their air drop in the comfort that the drops are going to verified, genuine individuals whilst PTL members will have first and preferential access to air drops and notifications ahead of time to set the necessary trustlines via a dedicated, secure web page.