For centuries, precious metals such as gold, silver, and platinum have been sought after by investors as a reliable store of value. However, the precious metals market has traditionally been limited to a small group of investors who have the resources to access it.
Aurus was founded in 2018 with the mission of bringing precious metals to the digital asset space through blockchain technology. They have created their own ecosystem within the industry that includes refineries, vaults, brokers, and the everyday user that has not been able to access this industry until now. The industry players are able to tokenize their own medals as tGOLD, tSILVER, and tPLATINUM and each token is backed 1:1 by 1 gram of physical gold, silver, and platinum stored and fully insured in vaults. These precious metals have throughout time been seen as cumbersome and difficult to store and transfer, Aurus helps fix this through tokenization. Tokenizing these assets allows them to be transferrable without the high costs associated with storage costs and security.
AurusX ($AX) is Aurus’ Ecosystem token that allows holders to share in the rewards generated by tGOLD, tSILVER and tPLATINUM transaction fees. As people around the world trade and transfer these tokenized precious metals, the fees are distributed to the holders of $AX. Through Aurus staking program users are able to stake AX and earn rewards in real gold, silver, and platinum. AurusX unique functionality allows the Aurus ecosystem to be highly scalable and completely self-sustaining.
Since Aurus inception in 2018, they have continued to focus on expanding its ecosystem of partners and growing its team. In the last year alone, they expanded their headcount by 20 people and they have doubled their market cap of precious metals. To date, there have been over 20,000 mobile downloads of their app. One example of how their team is innovating is through their partnership with Tangem. Tangem is creating a Visa card that will allow users to use their tGOLD, tSILVER, and tPLATINUM to make payments.
The Aurus team understands how important trust and reliability are in the space. They are working with Chainlink to offer users real-time Proof of Reserves (PoR) of the precious metals that they hold. They see the Chainlink certification as a similar show of strength to LBMA in the real-world precious metals markets. Aurus is focused on bringing the strongest and largest precious metal refineries in the world to help show users that they can be the leading and most trustworthy player in the tokenization of precious metals. Aurus currently has partners in South America, United Kingdom, and Turkey with the goal of expanding into Singapore, Germany, United Arab Emirates, and more.
2023 aims to be a big year for Aurus as they continue their expansion of partners, products, and a growing userbase. With a total supply of only thirty million (30,000,000) AX tokens as more users are onboarded to the platform the rewards associated with holding AX will continue to grow.
Purchase Aurus on AscendEX by trading the AX/USDT pair!