🔵 [ANN][ICO] SOLD OUT! Aurora 🔥 Decentralized Finance and Banking + Exchange 🔵

[Shaurman]

As far as I understand, if I need to borrow money in Aurora, I’ll need to send an application in the system of decentralized capital. Which documents should be attached?

[1714171623]

1714171623

[1714171623]

1714171623

[1714171623]

1714171623

[1714171623]

1714171623

[1714171623]

1714171623

[1714171623]

1714171623

[thaliaand]

Aurora Bounty
Aurora has reserved up to ~3% of our token sale (2,500,000 AURA/50 DVIP) for use in our bounty.

See Full Bounty Details Here

Excuse me, are you sure this is the right link to the bounty thread? Cuz the bounty manager said it is over. I was about to follow this awesome project campaign.

[yaelahwall]

I do not understand Aurora what AuroraDao name is it affecting your project? or you have 2 Aurora projects & AuroraDao

[Sheckley]

Aurora Bounty
Aurora has reserved up to ~3% of our token sale (2,500,000 AURA/50 DVIP) for use in our bounty.

See Full Bounty Details Here

Excuse me, are you sure this is the right link to the bounty thread? Cuz the bounty manager said it is over. I was about to follow this awesome project campaign.

How comes the bounty campaign is over halfway during the ICO? Never seen something like that. It doesn't speak for the capacity of the team of organizing things, even something as easy as a bounty campaign. Perhaps they could explain why.

[ggcript]

Hi everybody. In your opinion, in which exact way will the decentralized capital control the BRL coins? Why is it necessary? I’ve never seen anything like that in other projects.

[FrankNoland]

Aurora Bounty
Aurora has reserved up to ~3% of our token sale (2,500,000 AURA/50 DVIP) for use in our bounty.

See Full Bounty Details Here

Excuse me, are you sure this is the right link to the bounty thread? Cuz the bounty manager said it is over. I was about to follow this awesome project campaign.

How comes the bounty campaign is over halfway during the ICO? Never seen something like that. It doesn't speak for the capacity of the team of organizing things, even something as easy as a bounty campaign. Perhaps they could explain why.

I was actually asking myself the same question, its very unusual that the bounty ends before the ICO can officially end.

However, the idea behind this project seems to be solid and interesting, it might possibly make it in the future, I will consider investing once I have finished reading the white paper. Its also interesting that two tokens are being offered during this ICO, which is DVIP and Aurora. Do both these tokens use the same algorithm? since it was already specified that Aura uses proof of stake. Is there a specific meaning for DVIP? I like the fact that only 1600 tokens will be sold during this ICO, this might quickly accelerate the value of tokens. Good luck with the project.

[belm]

Aurora Bounty
Aurora has reserved up to ~3% of our token sale (2,500,000 AURA/50 DVIP) for use in our bounty.

See Full Bounty Details Here

Excuse me, are you sure this is the right link to the bounty thread? Cuz the bounty manager said it is over. I was about to follow this awesome project campaign.

Perhaps corrected the link. Everything is working.

[AuroraDao]

Hi everyone, lots of great questions here, let's start knocking them off!

Hi everybody. In your opinion, in which exact way will the decentralized capital control the BRL coins? Why is it necessary? I’ve never seen anything like that in other projects.

Our end vision is an autonomous system that manages the monetary policy (supply, issuance rate, etc.) of a stablecoin called the boreal. The simple version of this is as demand increases and the price rises above the target value, boreal supply will increase. If demand decreases, and the price starts to fall below target, the supply will decrease. Increasing the supply is easy. The challenge with a stablecoin is dealing with a drop in price/decrease in demand, as you don't want everyone rushing for the exits at the same time. This is where we have a unique solution by backing the boreal with multiple assets.

1. Boreals can always be redeemed on IDEX at their target value in lieu of trade fees, regardless of the price at which they are currently trading. If the price drops below the target value, traders can lower their overall trading costs by first buying boreals and using that to pay their fees. When the exchange gets paid in boreals that currency is now out of circulation. We plan to create a tool that will allow users to do this automatically, making it even easier for traders to take advantage of this opportunity.
2. Demand for boreals due to loan repayment, both principal and interest. Individuals who take out loans in boreals will be able to spend them/sell them/etc. Once the loan comes due, they will have to repurchase those boreals for repayment of the loan principal, including some extra boreals to cover the interest. This will serve as another source of demand and upward pressure on the price.

The model is inspired by free banking (https://en.wikipedia.org/wiki/Free_banking), a period in which private entities issued their own currency and were responsible for managing the supply prudently. The blockchain brings a new element of transparency to this where individuals can see how much is in circulation, how quickly they are being pulled out of circulation due to IDEX fees/loan repayment, etc. Our system will be able to use all of this information to design and determine a safe monetary policy with the ultimate goal of currency price stability.

[AuroraDao]

Well, let’s try to understand what is Aurora and what’s the difference between it and modern banking system. I’d like to hear comments of those ones who is really close to the project’s operation or who is maybe even a part of it.

Hi there. I’m not working in the project, but I got acquainted with the description very carefully and asked the technical support service several questions. In brief, Aurora is a collection of apps and Ethereum protocols which form a decentralized banking and financial platform together.

It’s clear, but features differ it from traditional banking and financial platforms?

This project is inspired by free banking servicing. It will provide the users with modern, open and stable financial network available to everybody in the world.

Will there be any geographical restrictions for users?

There won’t be any! Residents of any countries and districts can use it.

And what financial services will the project provide, if it isn’t a secret?

Thanks for your questions!.

The main components are a decentralized exchange (idex.market) and a decentralized bank (Decentralized Capital - DC). The bank centers around it's own stablecoin, the boreal, and will provide loans to individuals in the currency. See my answer above for more detail about the boreal.

[AuroraDao]

As far as I understand, if I need to borrow money in Aurora, I’ll need to send an application in the system of decentralized capital. Which documents should be attached?

Great question, couple of clarifications first. Aurora is the name of the entire project. It means "dawn" in Latin, which we thought was fitting as we are at the beginning of a new form of economic systems. The currency users borrow from decentralized capital is the stablecoin known as the boreal. This system is not yet available and is further down our roadmap.

In terms of documentation/proof that is something we are very keenly paying attention to as there is a lot of development in the space.  There are ID providers such as uPort and RepSys, as well as new entrants such as Bloom working to bring decentralized credit scores. We believe that there will be a host of other services we can use to understand an individual’s economic activity and trustworthiness in addition to the data we have regarding trade activity on IDEX. In our whitepaper we reference an example of a First Blood player who is winning a lot of games and making money from the platform. This is a fun example that illustrates how there will be many new ways to see if someone is worthy of or has the income to repay a loan.

[AuroraDao]

Aurora Bounty
Aurora has reserved up to ~3% of our token sale (2,500,000 AURA/50 DVIP) for use in our bounty.

See Full Bounty Details Here

Excuse me, are you sure this is the right link to the bounty thread? Cuz the bounty manager said it is over. I was about to follow this awesome project campaign.

How comes the bounty campaign is over halfway during the ICO? Never seen something like that. It doesn't speak for the capacity of the team of organizing things, even something as easy as a bounty campaign. Perhaps they could explain why.

I was actually asking myself the same question, its very unusual that the bounty ends before the ICO can officially end.

However, the idea behind this project seems to be solid and interesting, it might possibly make it in the future, I will consider investing once I have finished reading the white paper. Its also interesting that two tokens are being offered during this ICO, which is DVIP and Aurora. Do both these tokens use the same algorithm? since it was already specified that Aura uses proof of stake. Is there a specific meaning for DVIP? I like the fact that only 1600 tokens will be sold during this ICO, this might quickly accelerate the value of tokens. Good luck with the project.

Hi, and thanks for you interest in participating in the bounty! We did not find the bounty to be a very effective use of our time once the sale was in full swing and as such we decided to end it early. You can see in the thread that it was very well executed and we had quite a lot of participation. We had also pushed back our sale a bit and didn't want to make the bounty hunters work longer than we had agreed.

In regards to the token sale, yes we have taken a bit of an unusual approach with the membership (DVIP) purchase and the network token (AURA) airdrop. DVIP is a crypto membership that comes with free trading on IDEX until 2021 and double AURA rewards (from the rewards program https://tinyurl.com/AuroraRewards) for life after the free trade period is over. To use the membership all you have to do is hold the token in the same wallet you use for trading on IDEX (do not deposit it to the exchange). The smart contract and system will do the rest, automatically calculating how much DVIP you hold (if less than 1) and giving the trader the appropriate discount.

Each DVIP also comes with 50,000 AURA tokens. AURA is our utility token that will be used for POS staking our sidechain once IDEX moves from ethereum mainnet to an ethereum sidechain for scaling. AURA token holders will stake our chain and get paid in IDEX trade fees for providing the security to the network. As Aurora expands into decentralized banking the revenue from that venture will also flow back to AURA stakers for running the network.

So for each DVIP you get free trades on IDEX for 3 years, double AURA rewards for life after that and 50,000 AURA tokens. DVIP works now and AURA will be used for staking as soon as we have our sidechain live.

[gavrosh]

I see no guarantees that the reserve fund of decentralized capital will grow in the future when the service starts to work stably. I can’t even imagine what the sources will be needed for its replenishment.

[dayasinfo]

I see no guarantees that the reserve fund of decentralized capital will grow in the future when the service starts to work stably. I can’t even imagine what the sources will be needed for its replenishment.

There’s a lot of sources of formation of the reserve fund of decentralized capital. You can find them in the White Paper on page 11.

[gavrosh]

I see no guarantees that the reserve fund of decentralized capital will grow in the future when the service starts to work stably. I can’t even imagine what the sources will be needed for its replenishment.

There’s a lot of sources of formation of the reserve fund of decentralized capital. You can find them in the White Paper on page 11.

Hmm, thanks for the info, but I can’t open the white paper for some reason, maybe Adobe Reader needs to be updated. Can you list them here quickly?

[dayasinfo]

I see no guarantees that the reserve fund of decentralized capital will grow in the future when the service starts to work stably. I can’t even imagine what the sources will be needed for its replenishment.

There’s a lot of sources of formation of the reserve fund of decentralized capital. You can find them in the White Paper on page 11.

Hmm, thanks for the info, but I can’t open the white paper for some reason, maybe Adobe Reader needs to be updated. Can you list them here quickly?

Sure, no problems) The main sources of the reserve fund will be interest on loans through decentralized capital and income from IDEX. One can also include the proceeds from direct purchases of boreal in this list. And a few more items, too.

[deort]

I see no guarantees that the reserve fund of decentralized capital will grow in the future when the service starts to work stably. I can’t even imagine what the sources will be needed for its replenishment.

There’s a lot of sources of formation of the reserve fund of decentralized capital. You can find them in the White Paper on page 11.

Hmm, thanks for the info, but I can’t open the white paper for some reason, maybe Adobe Reader needs to be updated. Can you list them here quickly?

Sure, no problems) The main sources of the reserve fund will be interest on loans through decentralized capital and income from IDEX. One can also include the proceeds from direct purchases of boreal in this list. And a few more items, too.

Why wouldn’t you keep reserves in fiat currency?

[CAraBuss]

I see no guarantees that the reserve fund of decentralized capital will grow in the future when the service starts to work stably. I can’t even imagine what the sources will be needed for its replenishment.

There’s a lot of sources of formation of the reserve fund of decentralized capital. You can find them in the White Paper on page 11.

Hmm, thanks for the info, but I can’t open the white paper for some reason, maybe Adobe Reader needs to be updated. Can you list them here quickly?

Sure, no problems) The main sources of the reserve fund will be interest on loans through decentralized capital and income from IDEX. One can also include the proceeds from direct purchases of boreal in this list. And a few more items, too.

Why wouldn’t you keep reserves in fiat currency?

Well, ‘cause the storage in Ethereum ensures that the funds will be controlled only by decentralized capital. In case of using fiat currencies you won’t have such a guarantee.

[3dyx]

basically this project is very interesting with small supply. I think the market will become more expensive in the future. good luck.

[g8stTDas]

Good afternoon. Can you explain your decision to keep the reserves of decentralized capital in Ethereum?

[quixote.dao]

This looks like Medici Gold. I am eager to see the stablecoin in action. I'm sure Golem or other players will deploy distributed AI hosting before long, and I'm excited to see you are positioning yourselves accordingly.

I wonder if upcoming AI servers and server farms are an early area where you would be eager to offer loans. Better than farms, I think, is the idea of a server in every household. Something to keep our solar panels and battery packs busy :-) ---- what I mean is, the AURA and DVIP and upcoming BOREAL coins should be well positioned to benefit from a robust,  distributed AI architecture, according to your road map ... and I believe it would make good sense to find small players who can host a $50,000-$100,000 server, offer them a loan, which they can repay by simply deploying Golem or some such system.

With current infrastructure, ETH is strong, but nodes are still vulnerable to disruption. It looks like you are planning for a day when trade volumes are scaled exponentially. Proof of stake, where applicable in the Ethereum ecosystem, will definitely make a difference in terms of scaling solutions ... but the AI backbone is going to be essential in moving any of these heavy lifting projects forward. Right?

I hope lenders will find the people with a house, and a free electric line, and a high speed internet connection, and offer them a loan for solar panels and a server... are revenue generating assets that millions of people can practically plug and play so long as they live in a sturdy house with internet access. That way, barriers to entry are low, and we take advantage of existing assets, including a more equitable distribution of wealth in the wired class.

Disclosure: I have bought more than one DVIP token for myself. I also hold GNT and mine ETH on NVIDIA GPUs. Thanks and I look forward to posting and trading soon with the other DVIPs!!!

Happy new year and BEST WISHES for 2018.