Dear Community,

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 developments, new use cases, partnerships, and the effective communication of these events. The rest is up to the market. The market, meaning the collective YOU, are the only ones who can do anything about the price.

We say this because as we listen to our users through our communication channels, there are outcries for intervention from the foundation to do something about the price and the rate of negative rebase.

Please believe us, we want to as well. Many of you forget that the foundation is also a holder of AUSCM. It is our baby, that we birthed through forfeited sleep, forfeited time with our friends and family, and not to mention at times OUR SANITY — Ichiro isn’t the easiest person to work with! BUT such intervention would go against the very reason why we started this project and would be a betrayal to ourselves and, most importantly, those who have supported us.

AUSCM is our contribution to achieving financial inclusion. Since our inception, we wanted to build a financial system that treated everyone equally: where everyone regardless of socio-economic class or which country they live, would have the same opportunity to prosper. Our view was and remains that this cannot happen in the current centralized system because of the self-seeking agendas held by the centralized bodies and the people behind them. We believe that Defi is the only solution. In accordance with the definition of Defi, the administration of our marketplace is hard wired into our smart contracts, and no one group can unilaterally change the rules. Changes can only be made if, through our governance structures, the proposed change is deemed to be consistent with the collective “agenda” of the whole community.

Can you see our dilemma? If we artificially intervene and address the short-term pain suffered by our community (we included), not only are we compromising the purity of the system, but also giving up our philosophy as to why we started this in the first place. We would be “hypocrites” and the integrity of the whole protocol would then be brought into question.

Therefore, as promised, we will concentrate our efforts on what we can do: creating product improvements, and securing new exciting use cases and partnerships to give existing users and those watching us from the sidelines a reason to buy and hold AUSCM.

This is the marathon that we have chosen to run. World change, global impact was never going to be a sprint…

As announced already, our team is on the ground in Mongolia and we promise that we will be in regular contact to deliver exciting news to our AUSCM community.

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.

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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.

A Gold-Based Synthetic Commodity Money