ARK is the native blockchain token of Ark Institute which represents voting power regarding decentralized funding of vetted charities and nonprofits. ARK can be purchased on one of many decentralized XRPL exchanges like Sologenic.
The ARK token helps provide funding for charities that have passed the Gates of the Ark Institute. The ARK token is an issued token on the XRP Ledger (XRPL).
The ARK token is a digital asset token created on the XRPL that has a financial value. Ark Institute is the organization that oversees the tokenomics of the ARK token and the selection and review of charitable organizations which pass our Gates.
Ark Institute will mint 1 million ARK tokens a month which are then sold at market price, split equally between the number of sales per month. The funds from the sales are split 50/25/25. 50% will go to the Ark Institute approved charities based on vote percentages, 25% will market buy and distribute RPR tokens to ARK holders, and final 25% will market buy and distribute ASC tokens to ARK holders.
By purchasing and holding ARK tokens, you get multiple benefits. The primary benefit is that your ARK tokens will enable you to cast a blockchain vote for your favorite Ark Institute approved charity. All votes count, and 50% of new ARK sales will go towards the charities based on those votes. More ARK tokens equals more votes.
The second benefit is a passive income paid to your cryptocurrency wallet in RPR and ASC tokens based on your ARK token holdings.
The price of the ARK token is determined by the market of buyers and sellers/supply and demand.
Reaper Financial currently has two other tokens (also referred to as blockchain products) in its ecosystem, Reaper (RPR) and Ascension (ASC). While ARK token shares a similiar tokenomic structure, their utilties are different and values are all determined by the market.
There are 100 million ARK tokens in circulation, and 1 million more ARK tokens will be minted per month to support the utility of the token.
The ARK token and Ark Institute operate under the umbrella of the parent company Reaper Financial. They will in collaboration with Reaper Financial, but the ARK Institute is primarily focused on sowing the seeds of life. ARK token will be an equal member of the Reaper Financial ecosystem, next to RPR and ASC tokens.
Captain of the Ark Institute, Greg Prewett was initially driven towards helping support the fight against human trafficking. After meeting with Patrick Riley, CEO of Reaper Financial, and discovering their mutual desire to help bring an end to this barbaric trade, they formed Ark Institute. Beyond just human trafficking, they set out to assist all worthy charitable organizations that support life.
Ark Institute hopes to free charities from the burden of fundraising, eventually allowing charities to become completely self-funding, and enabling them to concentrate on carrying out their primary mission. Ark Institute will also build a trusted, transparent framework used to score charities and nonprofits and add them to our votable list as deemed appropriate.
Ark Institute is managed by a Board of eight Founders who all share Greg and Patrick’s dream of bringing to an end all unnecessary suffering, and ridding the need for great charities to put out their own hands for funding.
Ark Institute is hoping to fill a void. There is increasing mistrust amongst the public at large of charitable organizations and non-profits. This mistrust is centered around mismanagement, corrupt finances, and bad actors. Ark Institute hopes to eliminate these negatives using the transparency of Blockchain and a rigid set of gates that charities have to pass, while also encouraging self-funding using the power and utility of digital assets.