At 13:30 on Apr 28, XT.COM did another live streaming !
JUN：
Hi, everyone! Welcome to the XT AMA Channel. I’m Jun, CBO at XT.com. I am hosting today’s AMA with AUSCM. Let me give a brief introduction to XT first.
XT.com is the world’s first real-time social trading platform with 0% leverage interest. The XT ecosystem has over 6 million global users with a daily transaction volume of close to $5 billion. The platform has real-time indicators and tools that bring the best trading atmosphere for all users.
XT exchange’s innovative social model empowers the blockchain industry through newly developed social trading avenues, which were once not possible. XT has achieved this through a combined effort with our partners, such as Bananatok.
Today, our guest is Ichiro Nakamoto, the anonymous founder of Auric Network. Let’s talk to him to learn about AUSCM。
Hello Ichiro , thank you for joining us for the XT and AUSCM AMA!
Ichiro: Hi this is Ichiro and I am very excited to be here with all of you (XTers). This highly anticipated moment is a culmination of a very eventful year at Auric Network. Since inception, we have experienced a myriad of notable achievements, beginning with a smart-contract audit by Quantstamp. We have reached a $60 million USD market cap and listed on Uniswap DEX and Flybit, a centralized exchange with a fiat onramp in South Korea. Strategic enterprise partnerships with Bluebird Merchant Ventures (LSE listed company; Ticker:BMV) and Mine Foundation, coupled with the technical integration of Chainlink, demonstrate a number of successes. We are proud of the work that we have accomplished over the last 6 months.
JUN: Can you give our audience a brief introduction of AUSCM?
Ichiro: Auric Network is the first layer-2 blockchain-agnostic liquidity protocol that utilizes a non-dilutive elastic supply currency.
Auric Network’s native token, AUSCM, is a non-dilutive elastic supply cryptocurrency for utilization as base money with four distinct functions — medium of exchange, unit of account, store of value, and standard of deferred payment. Launched as an ERC-20, AUSCM references the market price of 1mg of gold and fulfills the base money functions by featuring rebasing and fair distribution.
JUN: I have checked your project has got impressive ratings by some top crypto rating websites. How do you take these ratings?
Ichiro: In many ways, the current surge in DeFi, or decentralized finance, can be seen as part of the natural progression for blockchain and for crypto, beginning with the introduction of Bitcoin which promised to disrupt traditional currencies and, along with it, financial markets as a whole. With the introduction of many new and increasingly complex DeFi protocols filling in for the roles of traditional financial services, the spotlight is on DeFi for its disruptive potential and the increasing likelihood for a holistic alternative to traditional finance. Unlike traditional finance, which is mediated by lawyers, bankers, and financial institutions, DeFi uses smart contracts to create permissionless, open, and censorship resistant protocols.
Auric Network offers innovations in the application of elastic supply functionality, a game-theory based incentive mechanism for the consistent growth of the network, something that has yet to be attempted by any of the other rebasing projects. We are ranked number 3 in terms of market capitalization among the top rebase tokens on Coingecko. We have also been featured on Donga-ilbo, one of Korea’s largest daily news-papers, Bloomberg, AP News, the Wall Street Journal, and more. We pay tribute to the rich legacy of gold and bitcoin by basing the value of AUSCM on the market price of 1mg of gold.
JUN: Can you introduce the core team members of AUSCM? We hear the team is highly experienced, can we get some examples?
Ichiro: The Auric Network core team seeks to achieve uncompromising anonymity, which we have maintained since inception, for a fair evaluation of our innovative technological capabilities and not based on any preconceived biases that may arise from the background of the founding team. As such, we have decided not to disclose any information pertaining to the project’s founding members. With a fully decentralized team we are currently operating w/ 12 full time team members, as well as 6~7 part time, and 4~5 external hires.
JUN: Can you give our community a brief introduction behind the inspiration to build AUSCM?
Ichiro：Gold has represented timeless value and has been utilized by many governing bodies as a global reserve and trade currency during economic and geopolitical instability. Although the Gold Standard has now been largely abandoned, the historical, inherent, and universal value of gold remains clear. The rich legacy of gold maintains strong cognitive ties to Bitcoin. The common characteristics between gold and Bitcoin are so numerous that Bitcoin is often touted as “digital gold,” the only difference being tangibility. Auric Network pays tribute to this relationship by basing its token value on the market price of 1mg of gold.
JUN: In the Crypto industry, what do you think of the current state? What do you think that needs to be improved?
Ichiro：The rise of various smart contract platforms, including Binance Smart Chain, Tron, and Algorand, to name a few, has signaled a greater desirability of bridging solutions on chain. As an asset that is using Chainlink’s oracle data price-feeds and wants to continue to bridge across other ETH-based side-chains as well as multiple main-nets that support IBC, we will continue to build innovative liquidity bridging solutions on-chain.
Unlike other layer-2 protocols, we are the first to claim that we are blockchain-agnostic. We are not claiming to have created a first-to-market technology that the world has not seen yet. Instead, we are building across multiple blockchains by supporting added liquidity growth across multiple ecosystems. As they grow, so will we. We will use all of the technologies across multiple infrastructures and support the growth of these economies by contributing to solving the liquidity issue that still has yet to be resolved within the industry. We won’t build something completely new, but contribute to improving it and making the user experience better.
JUN: How does the AUSCM team plan to tackle these issues to reach mass adoption?
Ichiro：Auric Network seeks to become the global reserve currency for various markets around the world, including the global capital and commodities markets, and even governments. As such, the target market size will change based on the stage of Auric Network’s operational developments and level of adoption. We are currently working with BMV and Mine Foundation to offer gold to the public so our initial target market is the market for gold, which is approximately $7 trillion USD.
JUN: What is your timeline, and what can we look forward to from AUSCM?
Ichiro：• Although incomplete, here is a short list of product updates that we have planned for Q1~2, 2021.
o UI/UX — New governance UI for full support of on-chain governance, including proposals, voting, delegation of votes, discussing new ideas, etc. New landing page and dashboard. Chainlink AUSCM price feed oracle
o Governance proposal — change of governance quorum from 1% to 4%. Change of rebaser frequency from 12hrs to 24hrs for rebaser. Then upon completion of build take the logging of transactions on ethereum networks via transactions onto Xdai to reduce gas fees for transactions logging data. Increase length of liquidity lock.
o Multichain Escrow — increase the scaling factor of Auric network bt rebuilding a multichain escrow and a wrapper which includes a rainbow bridge using another blockchain with IBC support such as Polkadot (Parity+Parachain), cosmos (tendermin IBC), or Near.
o Mine Foundation Platform — Introduce the world to HyFi (the entire platform will support ERC20, ERC721, and ERC1155).
JUN: Anything else do you want to share with our community?
Ichiro：Auric demonstrates a robust technical architecture and strong community presence as one of the fastest-growing DeFi projects with more than $11 million in liquidity on Uniswap. During our launch, we had to manually deploy and test more than 82 smart-contracts for the different functions involved in our logic. We have received a smart contract security audit from Quantstamp before launch and will continue to focus on the security and usability aspects of the new implementations and changes to the original code. News of any of our developments can be found on global media, including Bloomberg, WSJ, and Yahoo to name a few.
JUN：Thank you, Ichiro, for taking the time to do this AMA with us today. It has been great learning more about AUSCM and the team behind it!
Trade on the go with XT.com ’s mobile crypto trading app:
https://www.xt.com/app
Find us on
Telegram: https://t.me/XTensupport
Twitter: https://twitter.com/XTexchange
Facebook: https://www.facebook.com/XT.comexchange
No comments:
Post a Comment