BiKi listed $AWX, a DeFi blockchain protocol to disrupt the previous metal industry.
The firm, Aurus, has built a truly decentralised platform which allows companies like refineries, distributors and vaults to autonomously tokenise precious metals. With the tokenization of the glittery gold, silver and even platinum, AurusDeFi (AWX), enables holders to earn a share of the platform’s revenues, through their revenue-sharing model.
On April 1, 2021 we were honored to have invited Guido van Stijn, Md of Auru for an AMA session with the BiKi community, sharing with them about the problems, solutions and challenges faced including what the future holds for them.
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Here’s our AMA recap with $AWX on 2021/4/11, 18:00 GMT +8:
Host: Hi everyone! Thanks for your support and I am your host for tonight’s AMA.
Ok, we shall start the AMA now!
Tonight we are honored to invite Guido van Stijn, Managing Director of Aurus.io to our community to share about $AWX .
So to kickstart our AMA, let’s welcome our guest! @JonathanB Please introduce yourself.
Jonathan: Hi. I am a serial entrepreneur with over 15 years’ experience in gold and commodities field where I have led multiple successful business. I am at the forefront of the Aurus strategy and its implementation.
Host: @JonathanB Pls type OK after answering each question. Thanks
Host: Okay, now that our Guest has introduced himself, we shall move onto the main section of the AMA. During the AMA, let’s all cooperate and refrain from interrupting when our Guest is sharing. Once the AMA has ended, we can share freely.
@JonathanB Please tell us what best describes your project?
Jonathan: Aurus is a UK-based company that offers a Tokenization-as-a-Service (TaaS) solution to the traditional precious metals industry.
The platform (built on the Ethereum blockchain) hosts a global network of companies such as refineries, vaults and traders that work together to autonomously tokenise their own precious metals: AurusGOLD (AWG), AurusSILVER (AWS) and soon AurusPLATINUM (AWP).
Each token is backed by 1 gram of the respective metal, sourced from LBMA-accredited refineries and stored in fully insured and audited vaults.
It is important to note that Aurus is not involved the minting process and has no influence over the gold traded or vaulted.
AurusDeFi (AWX) is the platform revenue-sharing token which allows the Aurus ecosystem to be highly scalable and completely self-sustaining. The fees (tokenization, transaction, storage) generated from the usage of the precious metal-backed tokens are distributed as follows:
•[AWG] 50% – AurusDeFi | 50% – minting partners (25% gold providers, 25% vaults)
•[AWS] 30% – AurusDeFi | 70% – minting partners (35% silver providers, 35% vaults)
•[AWP] 30% – AurusDeFi | 70% – minting partners (35% platinum providers, 35% vaults)
AurusDeFi poses as a stake in the ecosystem, offering investors a passive income stream, paid in gold, silver and platinum. As the ecosystem grows, so do the revenues generated. The Aurus ecosystems fee system has not yet been activated.
Host: @JonathanB How does the revenue-sharing work for AWG 50%, AWS 30% and AWP 30% work? Please tell us more.
Jonathan: There are three types of fees within the Aurus ecosystem, the first one is a one off tokenization fee paid by distributors, while the other fees are associated to storage and transactions, which are paid by users when they initiate a token transaction.
All of these revenues are collected in separate pooled wallets and are automatically accrued to AWX holders proportionately. AWX holders can choose to redeem these revenues at any point in time directly to their wallets.
Host: @JonathanB So, when is the Aurus ecosystem fee system expected to be activated?
Jonathan: We expect to activate the fee system by the end of Q3 / beginning of Q4. This is an essential part of our roadmap and we are making sure to keep our community and stakeholders informed about dates and progress.
We are currently working on the integration of a Layer 2 solution, which will allow us to scale and activate the ecosystem fee structure with minimal frictions. The development of Layer 2 is one of our priorities, and if it is launched earlier than expected, then we will be able to activate the fee system sooner than originally planned.
Host: @JonathanB What is the background of AWX?
Jonathan: AurusDeFi is limited (pre-mined and hard-capped) to a total supply of 30 million tokens.
Tokenomics: 50% Investors | 20% Incentive pot | 15% Treasury | 15% Founders.
Host: @JonathanB What are your stellar achievements? (be it investments, team members, public interest, celebrity endorsement)
Jonathan: • Our Advisory Board of Precious Metals and Financial Industry veterans:
•One of the first project to launched a decentralized precious metals ecosystem.
•Never did an ICO – Entirely self-funded via private token sales in our close network.
•One of the first projects actually collaborating with the traditional precious metals industry. Not only helping them to access the digital asset space but also contributing towards accelerating their digital transformation.
•Key partnerships within the precious metals industry and the crypto/blockchain space are being developed currently.
•The launch of Aurus (stablecoin supported) PoS terminals and Vault Signer Card. (Pay with precious metals at merchant stores globally.
•The launch of Aurus App: multi-asset compatibility – enabling seamless accumulation of precious metals with fiat and crypto currencies.
•Scaling blockchain protocol: implementing settlement layer (cheap, fast transactions).
Host: @JonathanB What problems do AWX solve?
Jonathan: AurusDeFi enables anyone to invest into the future success of Aurus. It allows for the Aurus ecosystem to be self-sustaining and therefore decentralized. AurusDeFI is a new type of asset. A hedge against the volatility of the precious metal and offers Passive revenue stream out of physical precious metals, paid in precious metals.
Host: What makes AWX different? Why would consumers choose AWX?
Jonathan: Aurus is the only project that the entire precious metals industry can participate in and benefit from. We work with the industry players rather than compete with them.
Our biggest USP is the sustainability of the ecosystem and the decentralized nature of its tokens. The system was specifically designed to be independent from the Aurus company, so that even if Aurus company disappeared the tokens would survive on, just like a gold bar would. Users don’t need to trust Aurus to trust AurusGOLD.
Host: With the recent listing on BiKi, what is going to change and improve from this partnership?
Jonathan: BiKi’s strong presence in the Asian market – represents a huge milestone for Aurus. Being a licensed exchange with Fiat on and off ramps provides Aurus partnered brokers access to a huge new market of untapped potential. Really bridging the gap.
Host: What can we expect from AWX in the near future?
Jonathan: One is the activation of the fee system (generating revenues) and next is the potentially governance utility – voting rights (proposal system).
Host: Any other fun facts/interesting comments about AWX to add?
Jonathan: AWX will become much more appealing as its holders will benefit from the additional complementary products Aurus will provide to increase the usability of its tokens. This includes The PoS system, Vault Signer Card, Aurus App, Dashboard.
Host: Okay, our AMA has ended now and let’s start our Q&A session. Everyone, please feel free to ask our guest anything!
We have an app that is currently available on iOS and Android, it is being updated and will be released during the next few weeks. This app will support all of the ecosystem tokens AWG, AWX, AWS and AWP, and shall allow users to receive their share of the revenues from AWX.
The revenues from the ecosystem are distributed via the AWX smart contract. All holders of AWX will be able to collect their revenues via the mobile app and it will be automatically transferred by the smart contract to your registered wallet.
Official website: www.aurus.io/
Wallet address: http://aurus.io/gold-awx
There is no need to mine rewards. The revenues are automatically accrued in the AWX smart contract – no need to stake to earn. However, there are plans to do a staking campaign – we will share details MWC confirmed.
Jonathan: AWX and all other Aurus tokens (AWG, AWS, AWP) are ERC 20 token standard and issued on the Ethereum blockchain.
I am assuming this question is about “Staking” – if so, then please note that we are busy finalising our Staking campaign, where all AWX holders can automatically participate and earn more AWX. We would like to incentivise AWX holders to buy and hold AWX now, whilst we are still in the process of activating the revenue sharing system. More details will be shared with the BiKi community over the next weeks, with regards to profits, timeframes and other important.
Jonathan: Yes, the model is simple – Anybody can participate and join the Aurus network.
– B2C: As an Investor or buyer of AWX (AurusDeFi), AurusGold, Silver or Platinum
– B2B: ✨ ALLOCATOR of Metals
✨ DISTRIBUTOR of Metals backed tokens
✨ ACCEPTING of tokens as payment
And remember, that a share of the revenues generated by all of the Aurus precious metals tokens (AWG, AWS, AWP), will be earned by AWX holders!!
Today, AWX runs on Ethereum. Arguably the most decentralised blockchain with the most developers. We have already allocated resources to the development of the Layer 2 network, and we will be focusing on maximising interoperability with other networks because this is the future (e.g. Solana, Stellar, Cardano, Elrond, Polkadot). To achieve interoperability, we are using a hybrid approach, which means we will combine existing solutions in the market along with others developed inhouse. The integration of an interoperable Layer 2 solution will allow for micro payments to happen at very low cost and will ensure a seamless revenue collection mechanism for all AWX holders too.
As well as making precious metals (AWG, AWS, AWP) more accessible to retail investors, Aurus also removes the single point of failure risk associated with centralised systems. The firm is building a global ecosystem made up of precious metals refineries, vaults and brokers that work together to mint their own tokens. In the case of AurusGOLD (AWG), each token is backed by one gram of 99.99% LBMA-accredited gold and held in fully insured and audited vaults around the world.
Simply put, if you own AWG, AWS or AWP, you now have real exposure to the price of Gold, Silver or Platinum. AWG is also redeemable for the physical Gold through our network of providers, from 1000 AWG tokens or more.
It’s worth noting again that Aurus, as a technology provider, is not involved in the minting process of any metals backed tokens, and therefore has no influence on the gold, silver or platinum traded or vaulted. It is for these reasons that AWX (AurusDeFi), the Aurus revenue sharing utility token, is a safe token to invest in. It will receive revenues generated by the networks of AWG, AWS & AWP. The value of AWX is therefore not speculative, it is based on real revenues generated by real asset backed tokens / networks.
AWX is therefore stable and predictable.
Aurus has multiple established partners from both the traditional precious metals industry and digital asset space. Important partners include; Precious metals space – Direct Bullion (UK), Aurica Precious Metals (Chile), Indigo Precious Metals (Singapore), GoldDirect (Europe), StoneX (UK), Brinks (Global) – Digital Asset space: BiKi (Singapore), CEX.IO (Global), WhiteBIT (Europe), Tangem (Global), CycleBit (Global).
We are currently focusing on expanding the ecosystem to a global scale with various exciting partnership announcements in the pipeline, including new partnerships in both the crypto and precious metals space – watch out for more partnerships in South Africa, Australia, Canada, as well as South America.
Host: Once again, thank you to our Guest for the wonderful sharing, and thanks to our translator.
Our AMA has ended for tonight.