13.10.2022Read Time: 2 min

Aurus Undergoes Major Network Upgrade, Setting the Standard for Tokenized Precious Metals and Beyond

Aurus the blockchain platform specializing in tokenizing precious metals has undergone a major network upgrade, launching a revamped ecosystem.

With the recent establishment of the Aurus Foundation, Aurus the blockchain platform specializing in tokenizing precious metals has undergone a major network upgrade, launching a revamped ecosystem.

This network upgrade entails the rebranding and migrating of Aurus tokens to a much more advanced token structure, which significantly enhances the overall scalability and sustainability of the Aurus ecosystem. Aurus tokens will be migrated to upgradeable smart contracts, enabling the seamless implementation of features such as proof-of-reserves, governance, and adjustable fees.

The new upgradable token smart contracts have been audited by NonceBlox and will be deployed on both the Ethereum and Polygon blockchains. A snapshot of all token balances will be taken upon deployment of the smart contracts. The new tokens will then be airdropped to all existing token holders who previously purchased precious metals tokens and the AurusDeFi (AWX) tokens.

Token Rebranding: tGOLD, tSILVER, tPLATINUM, AurusX

With the network upgrade, Aurus has taken the opportunity to rebrand its array of tokens in further alignment with the traditional financial market standards and its global vision. The new token names and tickers are as follows: tGOLD (tXAU), tSILVER (tXAG), tPLATINUM (tXPT) and AurusX (AX).

Decentralized Tokenized Precious Metals

Formerly known as AurusGOLD, AurusSILVER, AurusPLATINUM, the new token names tGOLD, tSILVER, and tPLATINUM resonate with the decentralized nature of Aurus. It emphasizes that the bullion reserves backing the tokens are completely independent of Aurus Technologies Ltd and the Aurus Foundation. Aurus does not supply precious metals to the ecosystem nor sell tokens to end consumers. Aurus facilitates the tokenization of precious metals on behalf of our partners by providing high-grade technology solutions.

Setting the Tokenization standard

The new token names were selected to align with the traditional financial market standards. To clarify, the global currency standard (ISO 4217) for precious metals gold (XAU), silver (XAG), and platinum (XPT) are the same ticker symbols traded on global commodity markets. Aurus sets the standard for tokenized assets, where the ‘t’ stands for ‘tokenized’: tXAU, tXAG, tXPT.

The ‘X’ symbolizes independence under ISO 3166, the international ISO standard for ‘no country dependence’.

As this constitutes a complete relaunch of the Aurus ecosystem, the AurusDeFi (AWX) token has also been rebranded to AurusX (AX), as AurusX will reach far further than just DeFi alone. It will also encompass governance and utility in GameFi too.

NEW TOKEN SMART CONTRACT ADDRESSES:

tGOLD (tXAU)
Ethereum: 0xe4a6f23fb9e00fca037aa0ea0a6954de0a6c53bf
Polygon: 0xa6da8c8999c094432c77e7d318951d34019af24b

tSILVER (tXAG)
Ethereum: 0x34abce75d2f8f33940c721dca0f562617787bff3
Polygon: 0x57fcbd6503c8be3b1abad191bc7799ef414a5b31

tPLATINUM (tXPT)
Ethereum: 0x19b22dbadc298c359a1d1b59e35f352a2b40e33c
Polygon: 0x2e6978ceea865948f4c5685e35aec72652e3cb88

AurusX (AX)
Ethereum: 0xcb0d82f4dfa503c9e3b8abc7a3caa01175b2da39
Polygon: 0x1a763170b96f23f15576d0fa0b2619d1254c437d