Originally posted by Yahoo Finance on April 11, 2022.
LONDON, April 11, 2022 /PRNewswire/ -- Aurus, the digital metals advocate empowering precious metals with blockchain technology has today launched its highly-anticipated reward system as part of its V2 Ecosystem upgrade. Investors in AurusDeFi (AWX) and Aurus precious metals partners will start earning passive rewards in Aurus precious metals-backed tokens: AurusGOLD, AurusSILVER, and AurusPLATINUM.
Aurus Activates Ecosystem Rewards (PRNewsfoto/Aurus)
Tokenization is the digitalization of an asset such as gold on the blockchain, where each token represents (fractional) ownership of the underlying asset. In the case of Aurus, 1 AurusGOLD (AWG) is 1:1 backed by 1 gram of physical gold, stored in audited and insured vaults globally.
Empowering Precious Metals with Blockchain Technology
Aurus provides a Tokenization-as-a-Service solution to the precious metals industry, enabling established precious metals dealers to tokenize their gold, silver, and platinum bullion on the blockchain. Aurus precious metal tokens offer investors the opportunity to own physical precious metals, easily, 24/7, and at minimal cost via the newly launched Aurus Mobile App.
Upon activation of the fee system, Aurus bullion providers will start paying token minting fees, while modest transaction fees are charged to investors of tokenized precious metals. The fee structure is as follows:
Transaction fee: 0.18%, Minting fee: 0.5%
AurusSILVER (AWS) and AurusPLATINUM (AWP)
Transaction fee: 0.18%, Minting fee: 1%
Aurus Ecosystem Rewards – Launching April 2022
All accumulated Aurus token fees are proportionally distributed to Ecosystem stakeholders. With the launch of AWX Stake & Claim, 50% of AWG and 30% of AWS and AWP fees are distributed to the holders of AWX tokens. Aurus minting partners receive the other 50% of AWG and 70% of AWS and AWP fees for allocating precious metals to the platform.
AurusDeFi (AWX) is the Aurus Ecosystem utility token limited to a total supply of 30 million units. AWX entitles its holders to earn ongoing rewards in Gold (AWG), Silver (AWS), and Platinum (AWP) based on the activity and fees generated within the Aurus Ecosystem.
"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" — Paul Withers, CEO at Direct Bullion
"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." — Guido van Stijn, Managing Director at Aurus
Aurus provides the software, network, and crypto infrastructure for global precious metals businesses to merge with the future of finance, in the form of DeFi and Web3 applications — offering high-tech products, a huge addressable market, and passive revenue streams.
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