From a number of strategic partnerships with the Mine Foundation and Bluebird Merchant Ventures, to working on the development and launch of the AUSCM (awesome) token, with an elastic supply derived from the market price of gold; Auric’s core team has positioned itself at the forefront of the DeFi revolution. As a community contributor or just a fan, we have an exciting and fulfilling year in store for you.
Since its inception, Auric has explored some of the most exciting technological innovations within the DeFi space. Founded upon three indelible pillars — adaptability, transparency, and decentralization — Auric is a self-regulating currency that is meant to usher in a new age of secure, democratized finance with fully on-chain community governance.
Here are some of the milestones we have hit since our launch in October 2020:
1. Global Recognition:
- As seen on various media outlets, including Bloomberg, Financial Times, AP News, Yahoo Finance, and many more.
2. Governance Deployment:
- Auric Network’s fully on-chain time-locked governance contract was deployed in November.
3. Rebaser Deployment:
- Auric’s rebaser was deployed in late November through a community governance vote.
- Auric Network secures partnership with Mine Foundation to help build and launch a financially inclusive “Hyfi” platform around commodities.
- Auric Network signs exclusive project financing agreement with Bluebird Merchant Ventures(LSE listed company; Ticker:BMV) for 2 gold mines in South Korea, This provides users direct exposure to deal previously never available to the general public. According to a feasibility study done by KORES, a government-owned mining association, and affiliates the mine is expected to hold reserves of up to, “$1.5 billion USD worth of ready to mine gold, with a geological upside defined in the millions of ounces.”
- Auric was started as a bootstrapped project amongst the founding team and initial contributors.
- Auric has demonstrated a robust technical architecture and strong community presence as one of the fastest-growing DeFi projects with more than $1.4 million in liquidity on Uniswap. If you want “awesome” returns, continue staking your AUSCMS and we’ll show you the money.
7. Security Audit:
- As a Y-combinator backed company and one of the top global leaders in smart contract security verification, Quantstamp has certified and acknowledged Auric as a technologically viable currency. With this milestone, we expect to boost the adoption of AUSCMs as a medium of exchange and store of value used by individuals, SMBs, Enterprises, and even governments.
We have already entered into a profoundly uncertain period in the global economy due to the COVID-19 pandemic, and tension over the value of fiat currencies and their buying power continues to worsen. Particularly, political and economic tension between the U.S. and China post-pandemic era vis-à-vis the currency war is of growing concern (Financial Times). Capital markets are in a state of precarity, primarily propped up by government assistance; brick-and-mortar retail giants Starbucks, Victoria’s Secret, Macy’s, JCPenney, etc., are closing at unprecedented rates with more than 12,000 stores closing in the U.S. alone and 30,000+ stores globally, and no one can know for sure how much more the pandemic will impact our future (Fortune).
However, what we need is stable, predictable economic growth and regulatory clarity writ large. What is certain is that a world of the distributed economy has grown beyond its status as speculative assets toward a clear and present necessity. Projects like Auric can coordinate economic growth and stability across borders while navigating monetary emergencies more effectively because tangible, unequivocally scarce commodities back our network. Auric can significantly impact financial services, democratizing access to money while ensuring the fair and reliable administration of goods and services that uphold those economies.
If Bitcoin and Ethereum have established a strong foundation for building decentralized applications, then Auric Network paves the way for the blockchain industry and traditional markets to merge, self-actualizing George Selgin’s theory of synthetic commodity money.
About Auric Network
Auric Network (AUSCM) 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.
Disclaimer: AUSCM is not an investment product. It is not intended in its design or distribution to be utilized as a form of investment, speculation, or a financial product. No communications from Auric Network Limited to users constitute financial advice, a solicitation for investment, or a guarantee of a financial return. Please do your own research and investigation before participating in this project.