“We can start paying each other with gold again and then keep Bitcoin as the store of value with which Aurus turns the tables.”
Kevin Koolmees
Gold has traditionally been the currency that humans have trusted the most. For thousands of years people have relied on the value of gold and as soon as a money system is disconnected from the gold standard things go wrong. Ever since the Middle Ages, there have been several empires that tried to devalue money by putting fewer grams of gold in coins. This often marked a point of the beginning of the crumbling of the empire.
Devaluing money by adding to it is not possible in Bitcoin, but the volatility of cryptocurrency is frightening to many retail investors. Much of the market sentiment is driven by FUD or FOMO and that is to say panic or greed. It is important to secure a part of your portfolio at the right time in a bull market (somewhere towards a peak). For this, stablecoins are interesting, but they are not always fully transparent or covered as is said about Tether. A more decentralized alternative for this is Tokenized Precious Metals in the form of the Aurus project with Gold (AWG), Silver (AWS), Platinum (AWP) and AurusDeFi (AWX).
Tokenized involves establishing, via a smart contract on the Ethereum/Polygon blockchain, that ownership of the precious metals rests with you. The precious metals are purchased directly from various authorized gold and precious metals dealers and stored at partner vaults such as Brinks and are also claimable by the customer with the contracts.
Putting away Stablecoins at interest is a popular phenomenon in the crypto world. The disadvantage is that you have no control over your private keys. To do this, they must be held by an exchange or broker. If such a company goes bankrupt or the lending of your coins to another party goes wrong, you will lose your coins. This chance is small, but it is not entirely without risk!
Aurus withoken precious metals is the perfect hedge against a bear market with a nice chance of return. Because the prices are fixed to a gram of gold, silver and platinum. Especially with silver becoming scarcer, precious metals are increasingly interesting. Aurus has its own coin called AurusDeFi (AWX) and this is where Aurus brings precious metals together with DeFi, cryptocurrency and later metaverse. AWX holders share in transaction costs of all transactions across AWG, AWS and AWP. This is distributed as a form of dividend through the Aurus app. In this respect, AWX is still in its infancy.
As an investment, AWX is hugely interesting, as there is only a total market value of about $6 million in AurusDeFi. The hundredth coin in the top 100 stands at $715 million. A crap coin like Floki Inu at $521 million just to paint a picture. AurusDeFi is a full-fledged project with a working mobile app and a very interesting use-case (tokenized precious metals). With a little exposure, a good community and top 10 exchange listings, this project can be launched. In this sense, it is a gem in the crypto world, as the price still has the potential room to explode.
Aurus offers the perfect decentralized alternative to the average stablecoin, making it the missing link between crypto and fiat. The ideal way to secure part of your portfolio and quickly switch between different crypto, stablecoins and precious metals. This can be done with your own mobile application of which you manage the private keys. You can also import these private keys on Trust wallet or metamask and add your tokens there. Technically it is all perfectly fine and the network runs on Ethereum and Polygon for cheap and fast transactions.
If crypto prices are low for a long time or you need fiat money you can easily sell gold, silver, platinum or AWX on a decentralized exchange (DEX) like QuickSwap or centralized exchange like CEX.
Thanks to Aurus, gold can again be used as a means of payment, because the transactions between them on the Polygon network are virtually free. One AWG equals one gram of gold and can be used to store value and as a means of payment. You don’t have to pay with a whole gram of gold, as it is possible to send in much smaller pieces using the mobile app.
The revenue model for Aurus is not in selling or storing precious metals, but the transactions it facilitates around them and its own DeFi token AWX that is central to the project. AWX token holders receive dividends in precious metals by sharing in the transaction costs. In addition, importing the AWX into metamask wallet or trust wallet allows you to participate in various farming opportunities. That is, while the money is in your wallet you can make more money by deploying it in pools to provide liqidity.
“Gold is a constant. It’s like the North Star.”
Steve Forbes
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