"We can start paying each other with gold again and then we keep Bitcoin as a store of value with which Aurus turns the tables."
Kevin Koolmees
Gold has traditionally been the currency that people trust 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 it goes 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 re-producing 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 means panic or greed. It is important to secure part of your portfolio at the right time in a bull market (somewhere towards a peak). For that, 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 Metal in the form of the Aurus project with Gold (AWG), Silver (AWS), Platinum (AWP) and AurusDeFi (AWX).
Tokenized involves establishing through a smart contract on the Ethereum/Polygon blockchain that ownership of the precious metals lies with you. The precious metals are purchased directly from various licensed 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 so, they must be held at 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!
With tokenized precious metals, Aurus is the perfect hedge against a bear market with a nice opportunity for returns. After all, prices are set at a gram of gold, silver and platinum. Especially with silver becoming scarcer, precious metals are increasingly interesting. Aurus has its own currency 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 on AWG, AWS and AWP. This will be 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 is at $715 million. A bullshit 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 that sense, it is a gem in the crypto world because the exchange rate 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. You can do this with your own mobile application whose private keys you manage yourself. 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 an extended period of time or you need fiat money you very easily sell gold, silver, platinum or AWX on a decentralized exchange (DEX) such as QuickSwap or central exchange such as CEX.
Thanks to Aurus, gold can once again be used as a means of payment because transactions between them on the Polygon network are virtually free. One AWG is equivalent to a gram of gold and can be used to store value and as a means of payment. You do not have to pay with a whole gram of gold, as it is possible to send in much smaller particles 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 the proprietary DeFi token AWX that is central to the project. AWX token holders get paid dividends in precious metals by sharing in the transaction costs. In addition, by importing the AWX into metamask wallet or trust wallet, you can participate in various farming opportunities. That is, while the money is on your wallet you can make more money by putting it into pools to provide liqidity.
"Gold is a constant. It's like the North Star."
Steve Forbes
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