Aurus, a digital metals advocate empowering the fusion of blockchain tech and precious metals, has launched its highly-anticipated reward system as part of its V2 Ecosystem upgrade, Invezz learned from a press release.
Aurus partners and investors in AurusDeFi (AWX) can begin earning passive rewards in the following Aurus precious metals-backed tokens: AurusGOLD, AurusSILVER, and AurusPLATINUM.
Empowering the fusion of blockchain and precious metals
Aurus provides the precious metals industry with the innovative Tokenization-as-a-Service solution, allowing precious metals dealers to tokenize their gold, silver, and platinum bullion on the blockchain.
This way, investors can own precious metals without physically holding them. Moreover, this is at a minimal cost.
Guido van Stijn, Managing Director at Aurus said:
Everyone should have access to a reliable form of wealth. Aurus is democratizing access to precious metals by facilitating easier and cost-efficient ownership through blockchain technology. Creating a more inclusive and efficient precious metals market.
Paul Withers, CEO at Direct Bullion added:
Everything is going digital. With Aurus, we at Direct Bullion can offer our clients a new digital product and execute frictionless settlements starting from as little as 1 gram. We are able to attract new customer demographics and access recurring revenue streams, instead of one-off premiums.
Each token represents ownership
1 gram of physical gold backs 1 AurusGOLD (AWG). The physical gold is stored in audited and insured vaults around the world.
When the fee system is activated, Aurus bullion providers will begin paying token minting fees. Investors in tokenized metals will pay small transaction fees based on the following structure:
- AurusGOLD: transaction fee 0.18%, minting fee 0.5%
- AurusSILVER and AurusPLATINUM: transaction fee: 0.18%, minting fee: 1%
Token fees distributed to stakeholders
Ecosystem stakeholders receive Aurus token fees proportionally. AWX token holders receive 50% of AWG and 30% of AWS and AWP fees once AWX Stake & Claim launches. The other portion goes to Aurus minting partners.
AWX, the Aurus Ecosystem utility token, has a cap of 30 million units. Holders of AWX can earn ongoing rewards in Gold (AWG), Silver (AWS), and Platinum (AWP) based on the fees and activity in the Aurus Ecosystem.