Aurus is embracing the concept of DeFi to disrupt the precious metals industry. The firm has built a truly decentralised platform which allows companies like refineries, distributors and vaults to autonomously tokenise precious metals. The ingenious part of the Aurus system is their revenue-sharing token, AurusDeFi (AWX), which enables holders to earn a share of the platform’s revenues.
Aurus to Disrupt the Precious Metals Industry
Trading app Robinhood positions itself as democratising finance for all. However, the centralised nature of the platform- where one party holds the ultimate decision-making power, is in direct conflict with this mission. Just ask the Redditors of the WallStreetBets community. As they discovered in January, traders have zero control over how the exchange is managed. If they have a problem, their only recourse is to withdraw their funds and switch to another broker (where they’ll probably face similar issues, for the time being anyway).
This incident helps to explain why the concept of decentralised finance- or DeFi as it’s commonly known- has gained so much traction. DeFi removes the need to rely on middlemen and the associated bureaucracy or manipulation which has burdened the traditional financial system for so long. Instead, DeFi relies on smart contracts, programmes that automatically execute the terms of an agreement, on blockchains to complete transactions. Smart contracts allow markets such as brokerages and exchanges to operate unhindered 24 hours a day, seven days a week, 365 days a year. The technology is still at a nascent stage, but the projects leveraging it are building a faster, more transparent and more accessible financial system for all.
Aurus is embracing the concept of DeFi to disrupt the precious metals industry. The firm has built a truly decentralised platform which allows companies like refineries, distributors and vaults to
