We’re excited to announce the Auric Ambassador Program, a gateway for our AUSCM community members to contribute towards further expanding Auric’s reach and growth, and earn rewards for their efforts.
Many of you have shared your intellectual curiosity or comments (or memes) about the Auric Network — if you want to work with us in a more official capacity, here is your opportunity.
Anyone who claims to be a supporter of the Auric protocol is an ambassador and can get access to general information through our community channels; however, members who are looking for closer access to the team (and…
Disclaimer: The information contained herein is subject to change
Updated: November, 9, 2020
Using bleeding-edge technology to bring the world back a couple centuries…
AURIC takes some of the most interesting aspects of tech innovation within the DeFi space to create an autonomous, adaptive, and decentralized digital asset/protocol.
Auric is a synthetic commodity money that is not dependent on the current world based currency as the goal price or value. Instead, Auric relies on the centuries old currency of all currencies, or store-of-value: gold.
Dear Auric Community,
We have put together a short explanation about the functionality of the rebase mechanism in order to alleviate concerns and clear up any confusion. Rest assured, no vulnerabilities were found in the rebase logic, which has been working as initially designed.
Ａ rebase is triggered daily at 2:00 am UTC when the price of AUSCM deviates +/- 5% from the price target, which is the market price of 1 mg of gold. By expanding or contracting supply in one of two ways — positive rebase and negative rebase — elastic supply functions to achieve price-supply equilibrium.
Since our inception, Auric Network has operated anonymously under the pretext of realizing a fully decentralized, fair, and independent economic system where its agents contribute to becoming key decision-makers of the protocol. That is, our fully democratic governance mechanism endows the community with sufficient powers to propagate changes to the protocol.
In order to assist in the process of exercising your right to governance and to maximize the submission of proposals, we are launching our new governance interface. Our goal is to foster community collaboration and instigate the changes the “community” deems as viable in strengthening the network.
Auric Network was founded on the principles of equal opportunity, financial inclusion, and the democratic process, as a protocol for the USERS, directed and shaped by the USERS.
The protocol from inception made allowance for a decentralized governance framework to guide the growth of the project, however, like any newly appointed “government”, the process through which governance, policy, law, or regulation is implemented, changed, or created was in its infancy and development phase. …
Under extraordinary circumstances, our founders have traveled to Mongolia to partner with the national government and establish energy security for the Uvs Province, in the northwestern region of Mongolia.
Now out of quarantine, but the country still in partial lockdown, we have sought our vaccinations and have received special governmental permissions to leave the capital Ulaanbaatar and visit the Uvs Province by road. Under normal circumstances, the journey would have been a 2.5-hour flight, but under current regulations, our team is venturing out on a 13-hour drive through the rugged mountains and desert terrain of Mongolia.
One October evening in 1907, behind the locked doors of a private library in an extravagant Manhattan brownstone mansion, the presidents of several American banks were engrossed in an intense but fruitless negotiation that would determine the solvency of America’s banking system. The fate of the national economy rested with these gentlemen and drastic measures were desperately required to break the deadlock in negotiation and bring the American economy back from the brink of collapse.
Under threat of being incarcerated in the library until a resolution was reached, the bankers came to an agreement, and fortunately, further disaster was averted…
Rebasing, when positive, is exciting as our default psychology desires increase and growth, but when the same mechanism triggers a process in the reverse, people will naturally get upset, stressed, and anxious. Even if this is essentially a means of preserving token value, our recent successive negative rebases have unequivocally shocked us all. We built the system and we too need to deliberately remind ourselves, the real function and intended purpose of the negative rebase.
Unfortunately, in these situations, the only thing we can do is to give the users and the market, at large, exciting news of…
Please celebrate our release from quarantine today! Ulaanbaatar city remains in lockdown until the end of the week, but it is still great to be on the ground. As soon as the lockdown restrictions are lifted, we will travel to the project site to check on the ground conditions, and meet with local stakeholders and leaders. We are excited to see our team and partners in the flesh.
As stated ad nauseum, Auric Network is committed to financial inclusion, which extends to the communities in which our projects are executed.
Whilst providing a stable source of electricity to…
We delivered an update yesterday pertaining to our use cases in order to address your concerns about the incipient roadmap set forth by the founding team and to assure you that we are indeed working diligently to build the project as promised.
But for some, the notice may have simply raised more questions. Consider a question from one user: “This seems like a great project and the use cases provide validation for Auric Network, but how does this impact me? How do I benefit?”
In this article, we want to further explore the conceptual framework that underpins our…