We have recently updated our website and whitepaper to follow the changes made in our business model and go-to-market strategy. In this post, we want to present a more detailed description of the AUC token model: purpose, roles and features.

Auctus’ ecossytem

The Auctus Platform will provide users with the tools and services needed to achieve their retirement goals faster. The fundamental purpose of the AUC Token is to provide a result-oriented, transparent and low fee structure, aligning the interest of human and robo advisors with savers’ goals and ensuring transparency. The multi-purpose token was designed to fuel the platform and create a balanced ecosystem. Its main roles will be the following:

Access and platform usage

The Auctus platform will be exclusively accessible through the AUC token. To create an account and start saving for retirement, users will need to hold a certain amount of tokens in escrow using the platform smart contracts.

Platform currency and value exchange

Users with AUC in escrow can access the platform and use built-in tools and standard features. Inside the platform, users can get tailored recommendations (how much to invest and asset allocation) from human and robo advisors.

In addition to being a platform currency, which enables efficient and frictionless transactions between participants, the AUC token will also be used to prevent users from paying in advance for bad services or advice.

As illustrated in the diagram above, payments through AUC tokens can be held in escrow using the platform smart contracts. In cases where the nature of the service or tool purchased involves portfolio suggestions and predictions (of returns and risk), the transfer of tokens between the user and the provider can be bound to the results.

The user initially chooses a human advisor or robo advisor from the marketplaces inside the platform, where he can check blockchain-based proven track records and other users’ ratings and reviews. The user then transfers the corresponding amount of AUC tokens to a platform smart contract where it will be held in escrow. He receives a portfolio recommendation (with asset distribution according to his profile — desired returns and tolerated risk) and all the parameters are recorded in the Ethereum blockchain using the platform smart contracts.

The AUC held in escrow in exchange for a particular recommendation can be gradually released to be transferred to the human advisor or developer if the returns meet the predictions, as well as the fluctuations (volatility) do not exceed tolerated levels of risk. The parameters such as vesting period and tolerance will be auditable prior to the purchase of the service or tool. Users can redeem the tokens in case of bad advice.

To compare the recorded predictions with the real results, trusted oracles can be used to record data in the platform smart contracts.

Other kinds of services and tools, such as video consultancies and platform plugins, can be negotiated using AUC tokens and the platform marketplaces without binding to results.

Community

If you feel you can help our community and leave your feedback about our model, we’d love to hear your ideas, so visit us over at our chat and get in touch.

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