What is Aurum Project ?
Aurum is a project of creating a valuable crypto, it’s goal is the representation, preservation and accumulation of value. A golden blockchain is created, its currency, Xaurum, is coined as a representative commodity money, 100% backed with gold. Each Xaurum on the market is backed by 1g certified gold of 999.9 purity and is exchangeable for it by Auresco Institute online globally.
It is created to permanently rise in value by constantly increasing the gold reserves – for this, some crypto-alchemy is required.
The value of Xaurum is increased by adding mining fees, transaction fees and staking rewards to gold reserves, effectively increasing the value of each Xaurum in exchange.
Xaurum is coined out of a Proof of Stake blockchain, with starting 0.01% yearly inflation, at most 10,000 of coins will be sold on ICO by Auresco Institute, the ICO funding will be used to buy gold more exactly 10,000 of 1g 999.9 certified gold is bought, below EU retail prices.
This way 10,000 usable coins, 100% backed by gold are created. 990,000 of the coins will be mineable at their PoS multipool, obtaining the total of 1,000,000 coins in exchange when all are mined. 90% of the coins will serve as guardian nodes, operating on secure servers transparently and will never enter the exchange.
The time needed for the acquisition of gold reserves is 2-4 weeks, the time needed for shipping 3-7 days.
What is Auresco Institute ?
Auresco Institute is a non-government, non-profit, financial institution, serving as a legal entity. Based in Slovenia, EU, it serves as a crypto-guild, counting all holders of Xaurum as its members, capable of participation and cooperation.
Auresco Institute‘s duty is the development and maintenance of Aurum project, it is funded by a maximum of 5% rebate on gold purchases.
It preserves the blockchain by running the guardian nodes, its value by securing the gold reserves and running the website aurumproject.io where it will be exchanging XAU for its worth in gold, according to the gold reserves.
This exchange will be accessible as “melting” on the website, gold will be shipped globally.
Cooperation and participation will be organized on Freenode IRC #aurumproject, announcements will be posted on twitter @urumproject. All actions will be as transparent as possible.
How can I get Xaurum?
The ICO started at the beginning of March and it will end on 14th April, it’s available on C-CEX.COM platform at this links : https://c-cex.com/?p=xau-btc – https://c-cex.com/?p=xau-usd . You can buy Xaurum with Bitcoin & USD.
So far around 400 XAU have been sold and everyday more will be sold. Grab your spot for a truly backed cryptocurrency, and not by fiat , but by a high-value commodity GOLD.
After the ICO is over, Auresco Institute will aquire the gold and provide a proof of gold to the community.The proof will consist in photos & videos of the gold reserve. You can also participate at one of their Giveaways/Proof-Of-Delivery contest on one of the developers Twitter:
— BelTirid (@BelTirid) February 27, 2015
And about the same time, the XAU Multipool will be open for users to be able to mine XAU for other cryptocurrencies. Their goal for after launch is to create an ALL-IN-ONE platform which will include the multipool, block-explorer, redeeming platform and other features.
[mks_one_half]Social & Links
Official Website: aurumproject.io
Official Twitter: @urumproject
Official IRC@Freenode.net: #aurumproject
BitcoinTalk Thread: Bitcointalk.org
Total Mint: 10.000.000 XAU
Distribution: 1.000.000 XAU in Exchanges, 9.000.000 XAU in Guardian Nodes
Stake Interest: 0.01%/Year