THELOGICALINDIAN - Aurus is all-embracing the abstraction of DeFi to agitate the adored metals industry The close has congenital a absolutely decentralised belvedere which allows companies like refineries distributors and vaults to apart tokenise adored metals The able allotment of the Aurus arrangement is their revenuesharing badge AurusDeFi AWX which enables holders to acquire a allotment of the platforms revenues
Aurus to Disrupt the Precious Metals Industry
Trading app Robinhood positions itself as democratising accounts for all. However, the centralised attributes of the platform- area one affair holds the ultimate controlling power, is in absolute battle with this mission. Just ask the Redditors of the WallStreetBets community. As they apparent in January, traders accept aught ascendancy over how the barter is managed. If they accept a problem, their alone recourse is to abjure their funds and about-face to addition agent (where they’ll apparently face agnate issues, for the time actuality anyway).
This adventure helps to explain why the abstraction of decentralised finance- or DeFi as it’s frequently known- has acquired so abundant traction. DeFi removes the charge to await on middlemen and the associated authority or abetment which has abounding the acceptable banking arrangement for so long. Instead, DeFi relies on acute contracts, programmes that automatically assassinate the acceding of an agreement, on blockchains to complete transactions. Acute affairs acquiesce markets such as brokerages and exchanges to accomplish abundantly 24 hours a day, seven canicule a week, 365 canicule a year. The technology is still at a beginning stage, but the projects leveraging it are architecture a faster, added cellophane and added attainable banking arrangement for all.
Aurus is all-embracing the abstraction of DeFi to agitate the adored metals industry. The close has congenital a absolutely decentralised belvedere which allows companies like refineries, distributors and vaults to apart tokenise adored metals. The able allotment of the Aurus arrangement is their revenue-sharing token, AurusDeFi (AWX), which enables holders to acquire a allotment of the platform’s revenues. But to accept the tokenomics abaft AurusDeFi, you charge to booty a added dive into how the ecosystem works.
Building a Decentralised Precious Metals Ecosystem
As able-bodied as authoritative adored metals added attainable to retail investors, Aurus additionally removes the distinct point of abortion accident associated with centralised systems. The close is architecture a all-around ecosystem fabricated up of adored metals refineries, vaults and brokers that assignment calm to excellent their own tokens. In the case of AurusGOLD (AWG), anniversary badge is backed by one gram of 99.99% LBMA-accredited gold and captivated in absolutely insured and audited vaults about the world. It’s account acquainted that Aurus, as a technology provider, is not complex in the minting action and accordingly has no access on the gold traded or vaulted.
UK-based, Direct Bullion, became the aboriginal adored metals banker to accompany the Aurus ecosystem, tokenising 5 kilograms of the chicken metal in 2019. The close has back added AurusGOLD to their offerings as a added acceptable and aqueous anatomy of gold ownership.
The incentives for industry ally to participate in the ecosystem comes from the platform’s revenue-sharing mechanism. Gold providers and aggressive ally accept an according allotment of 50% (25% each) of the minting, transactional and accumulator fees generated from the acceptance of AurusGOLD. The added 50% is proportionally broadcast amid holders of a revenue-sharing badge alleged AurusDeFi. This different business archetypal enables the ecosystem to be awful scalable and absolutely self-sustaining.
AurusDeFi has a bound absolute accumulation of 30 actor tokens and represents a pale in the Aurus ecosystem by accouterment its holders with a acquiescent assets stream, paid in AurusGOLD. As the ecosystem grows, so do the generated revenues. To put this befalling in context, bitcoin hit the account afresh back it accomplished a bazaar cap of US$1 abundance for the aboriginal time. In contrast, the absolute amount of the all-around gold accumulation is estimated to be more than ten times bigger.
Aurus completed their final fundraising annular in February of this year- adopting three times the accepted capital- and the abutting footfall is to account the tokens on CEX.IO and BiKi. Launched in London in 2013, CEX.IO is one of the best absolute crypto exchanges with over four actor users globally, while Biki has added than two actor users in Asia. These partnerships represent a huge anniversary for Aurus as both exchanges action deposits and withdrawals in fiat, as able-bodied as added staking and absorption acquiescent articles for both retail and institutional clients.
The Bigger Picture
The eyes for Aurus is to body an open, awful scalable ecosystem which the absolute adored metals industry can account from, whilst at the aforementioned time authoritative it simple for anyone to advance and transact with adored metals. With that in mind, the close afresh launched a new badge for addition asset chic targeted by the traders of WallStreetBets. AurusSILVER (AWS) offers the aforementioned allowances as AurusGOLD, such as accessible admission to the US$1.5 trillion bazaar for the metal, and anniversary badge is backed by one gram of LBMA-accredited silver.
Aurus’ ambitions don’t end there. With AurusPLATINUM (AWP), Aurus is set to become one of the ancient platforms to tokenise platinum. While not as aerial contour a adored metal as gold and silver, this is a groundbreaking accident for retail traders as currently, one of the alone means they can digitally access platinum is through an ETF on the South African banal exchange.
The barrage of AWS and AWP will accomplish AWX alike added valuable, as holders of AWX will account from 30% of the acquirement they generate. Aurus is planning to account both tokens on CEX.IO in the advancing months.
Aurus is additionally admiring to advertise the accession of new industry ally to the platform. Aurica Metales is the oldest and better adored metals agent in Chile. Demand for AurusGOLD has already been so aerial that Aurica ran out of stock, and had to tokenise added gold on several occasions. The close additionally afresh started affairs AurusSILVER and affairs to aggrandize operations to added Latin American countries too. Elsewhere, the close will be onboarding an all-embracing banknote trading aggregation from Turkey forth with one of the better adored metals brokers in Singapore alleged Indigo Adored Metals (IPM). The Turkish banker was founded over 25 years ago and counts axial banks and government agencies amid its clients, while IPM is run by arch metals experts and will be the aboriginal accomplice to affair AurusPLATINUM.
Monetising Metals
As mentioned before, Aurus does not get complex in the supply, minting or administration of the metal- backed tokens. However, they serve a actual important role by enabling the abiding of Aurus tokens to be acclimated to their abounding potential: as a average of exchange, a agency of collateral, a crop address apparatus or aloof artlessly an easy-to-access advance product.
The accessible advertisement with CEX.IO is an archetype of the types of partnerships that Aurus engages in to add amount for their users. Aurus has additionally afresh partnered with Tangem and Cyclebit to barrage its stablecoin-supported point of auction terminals. Holders can amount their tokens (AWG, AWS, AWP) assimilate the Aurus Vault Signer Card, a crypto accouterments wallet, which will anon acquiesce users to pay with gold, argent and platinum at merchants all over the world.
From this perspective, the approaching looks aureate for Aurus as there’s a lot to attending advanced to in the advancing months – best defi(nitely) a anarchy for the adored metals market.
Aurus tokens accessible on CEX.IO here: AurusGOLD | AurusDeFi
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