Aurus Launches Tokenized Precious Metals Ecosystem on Polygon Network

Aurus, to utilize Polygon full-stack scaling solution to expand its tokenized precious metals ecosystem globally, supporting its vision of creating a more inclusive and efficient precious metals market.

Aurus, a decentralized precious metals tokenization platform is proud to announce it has deployed its suite of tokens, supporting products and applications on the Polygon Network. Polygon’s full-stack scaling solution provides Aurus the infrastructure to facilitate low-fee and fast trading of its tokens.

Furthermore, polygon interoperability will enable Aurus to activate the platform’s unique reward system, which distributes precious metals rewards in AWG, AWS and AWP to key Aurus ecosystem participants including Aurus industry partners and AurusDeFi (AWX) token holders.

The advantages of Polygon to Aurus

Polygon is a game changer for Aurus and for precious metals as a whole, especially considering the drawbacks of limited transportability and high premiums associated with physical precious metals. Aurus partnered bullion dealers gain a significant competitive advantage being able to offer instant global settlements at fractions of cents, significantly reducing operational costs. The upgrade offers investors the opportunity to buy and trade precious metals, easily, 24/7 and at minimal costs. With Polygon Aurus is ready to scale globally, supporting its vision of creating a more inclusive and efficient precious metals market.

Furthermore, Polygon enables Aurus to activate the platform’s long-anticipated fee system, economically. Upon activation, Aurus stakeholders; partners and AurusDeFi (AWX) token holders will begin generating ecosystem participation rewards derived from the fees of Aurus precious metals-backed tokens: AurusGOLD (AWG), AurusSILVER (AWS), AurusPLATINUM (AWP).

Polygon Integration details

• Tokens: AWG, AWS, AWX [COMPLETE]
• Tokens: AWP [PENDING – Q4 2021]
• Aurus Mobile App (IOS, Android) [COMPLETE]
• In-App polygon bridge functionality [PENDING – Q4 2021]
• CEX.IO exchange polygon deposit/withdrawals [PENDING – Q4 2021]
• Ecosystem reward system activated [PENDING – Q1 2022]

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc, and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 90+ Dapps, ~7M txns and ~200K unique users.

About Aurus

Aurus is the decentralized financial infrastructure empowering gold, silver, and platinum-pegged digital assets, creating a more inclusive and efficient precious metals market. The Aurus Ecosystem is a global network of independent precious metals providers, vaults and distributors working in synergy to tokenize their own precious metals. Aurus tokens are highly liquid, transferable and easy to store, making it the perfect way to invest in precious metals.

SOURCE:
Medium