Aurus is empowering the precious metals industry with metal-backed blockchain technology, accelerating its growth and turning it into an inclusive market from which everyone can join and benefit. At Aurus, our mission is to provide the tools and support for enhancing the usability of tokenized precious metals while leading the expansion of the Aurus Ecosystem and driving rewards toward its participants and AurusDeFi (AWX) holders.
In this article, we want to introduce you to Aurus V2, a new chapter that we consider to be the most crucial milestone in the history of Aurus, as it contemplates outstanding innovations and upgrades to the Aurus Ecosystem and its tech infrastructure.
The Aurus team has been working for months on several updates regarding the smart contracts and IT infrastructure surrounding our gold-backed crypto to bring the Aurus vision closer to reality. Aurus will announce and launch this update on November 1, 2021. Amongst these updates, you will find:
All of us have been suffering the negative effect of the high gas fees associated with the Ethereum network. Finally, we have the solution already integrated into the Aurus protocol and smart contracts. The Polygon Layer-2 scaling solution enables transfers of golden tokens at minimal fees (fractions of cents). The forthcoming multi-chain approach will significantly reduce dependence on the highly congested Ethereum Network.
Aurus distributors and users can choose the network on which golden token transfers will occur. For example, if you prefer Polygon, Aurus ERC-20 tokens can be wrapped into Polygon via an easy-to-use bridging tool available in the Aurus app or on the Polygon website. In addition, the mobile app operates on the Polygon network by default and allows users to use other networks (e.g., Ethereum). However, all Aurus token mintings and burns will still be executed on Ethereum to keep the information recorded on one network.
Here is a comparison between the functionality of Ethereum and Polygon regarding transactions:
With the integration of Polygon comes the highly anticipated activation of the reward-sharing mechanism in the Aurus ecosystem. Bullion Providers will start paying token minting and burning fees for using the protocol. In contrast, modest storage and transaction fees will be charged for the retail usage of Aurus precious metals-backed tokens such as gold crypto tokens and silver-backed cryptocurrency tokens. All accumulated fees will be distributed proportionally among Aurus Bullion Providers and AWX holders, with the rewards being paid in AWG, AWS, and AWP, which can be claimed via the Aurus App.
Below you can find a visual of the Rewards-sharing Mechanism with the fees to be collected and the rewards to be distributed to you as AWX holders and to the bullion providers:
The Aurus mobile app is one of the key projects that Aurus has been working on, as it will be the primary tool to drive massive adoption of gold crypto across the retail market. Our mission is to deliver an app with outstanding design, supported by innovative features and a user-friendly interface. All the new functionalities of the mobile app and the integration of Polygon have already been built. We are completing the UX and UI with our developers in Bucharest and designing the last few screens with a Branding Agency based in Romania.
Below is a sneak peek of the new Aurus App:
Most Aurus token holders currently use MetaMask to store their golden tokens. Once the app is launched in November, Aurus will guide current token holders to bridge their tokenized gold to Polygon on MetaMask and transfer the assets to the Aurus App wallet at minimal fees.
The Aurus Vault Card is a multi-asset compatible hardware wallet that enables you to store AurusGOLD, AurusSILVER, AurusPLATINUM, and AurusDEFI. It is the upgraded version of the Gold Card. Users will also be able to generate a backup of their Vault Card on the Mobile App, with the chance to add a PIN code to enhance its security. Our distributors will start accepting pre-orders in the next few days. The mobile app will also support the Aurus Gold Card (V1), and if you are holding one of these cards today and wish to upgrade to the Vault Card, our distributors will offer an exclusive discount for existing Gold Card holders.
Our current Aurus brand image and website are outdated and no longer represent what we are doing and offering to the precious metals industry. It is why we are making a disruptive change that will reposition Aurus as a market leader in gold crypto, bringing more simplicity and professionalism to the brand. We hired a renowned Dutch agency specializing in designing customer journeys, which had already finished the new skeleton and wireframe of Aurus.io website V2.
To bring the new website wireframe to life, we are currently working with a Romanian Branding agency that is redesigning the entire brand, visuals, and style for both the website and the mobile app. At Aurus, we are incredibly excited about this project as we have deployed several resources and all of our passion to present Aurus as what it is meant to be, a global ecosystem that empowers precious metals with blockchain technology.
Here is a sneak peek of the upcoming branding concepts:
Aside from integrating new Bullion Providers and Brokers, we are working on listing the Aurus tokens on two Tier-A exchanges to bring you new fiat on-and-off ramps and to enhance liquidity while tapping into new communities. We are currently going through the due diligence process and expect to list AWG, AWS, and AWX by the end of November 2021 in at least one of these exchanges. On the other hand, our team has been reaching out to exchanges within the regions where our current precious metals dealers operate to increase accessibility and allow users to enter and exit token positions using their local fiat currencies.
The DeFi space has been growing exponentially, from USD 2.2 billion in total value locked in September 2020 to over USD 150 billion in September 2021 (over 6,700% growth).
This market entails different platforms such as decentralized exchanges, including Uniswap and QuickSwap. At Aurus, we have already launched pools (AWS/ETH) and will bring new partners and tools to build deeper liquidity pools to attract a broader audience of investors.
With our newest partner Moonfarm, we will enable anyone to earn rewards on precious metals by providing liquidity with their gold-backed crypto. DeFi is revolutionary, as it allows any individual to benefit from new rewards opportunities encouraging a more inclusive and collaborative environment for all.
We hope you are as excited as the entire Aurus team is. After these updates became effective in November 2021, you can expect several more features and functionalities to come, which will boost the expansion of the Aurus Ecosystem.
Want to join us in the new chapter and start earning precious metals?
Here you can buy AurusDeFi (AWX) tokens.