AurusGOLD (AWG) is a semi-decentralized gold-backed cryptocurrency that is independently minted by esteemed gold providers and traders from the traditional gold market.
Each AWG token is backed by 1 gram of 99.99% LBMA-approved gold, stored in professional, fully insured and audited vaulting facilities around the world. The platform employs a smart contract to audit the supply of gold and uses ERC-721 to track the gold bars, making each AWG token traceable to a single gold bar. AWG tokens represent 100% ownership and can be redeemed for physical gold at any time.
Aurus Technologies, the company behind AWG offers a tokenization solution to the traditional gold market. Aurus’ blockchain protocol interacts with a network of gold providers and vaults that work in synergy to autonomously tokenize physical gold bullions into AurusGOLD.
The system enables traditional gold-market participants across the globe to mint and distribute AWG independently, without Aurus ever having access to underlying gold reserves. AWG holders do not need to rely on a single source of gold or a centralized entity. Users don’t need to trust Aurus to trust AWG.
The vision of Aurus is to make gold as easy as money, and via AWG the firm is setting out to bring stability to volatile financial markets and ultimately, a sustainable/reliable alternative to mainstream payment methods.
White Paper / Documentation