A Brief Overview of AurumX
The AurumX Protocol was designed to take advantage of the massive amounts of potential value in the DeFi space through clever design and engineering. The main idea behind this is to have two tokens — one token will have extremely high-value use cases while the other will directly hold value in a more stable way. The tokens will support each other in a mutually beneficial way.
We will first discuss Aurum. Aurum will have extremely valuable use cases that primarily involve passive earning of some sort or another. The two most prominent use cases will be its ability to allow the user to passively earn a wide variety of cryptocurrencies or NFTs through the Monkeyswap DEX. The amount that you will earn will be dependent on the amount of Aurum that you own. Aurum will have a 160k% APY that will rebase every 30 minutes in your wallet (i.e., you will get an increase in your Aurum supply every 30 minutes). When you use your Aurum to passively earn other cryptocurrencies or NFTs, you will not earn from rebases. Therefore, there will likely be a natural cycle of people using their Aurum and then holding it to surpass the potential competition. You can find the details on how passively earning crypto, NFTs, etc., via Aurum will work here.
CHIMP will be much different than Aurum. CHIMP will be the native Monkeyswap DEX coin, but you can also get CHIMP by burning Aurum. CHIMP will have a much more stable price than Aurum and a very stable price in general, with some great functionality, including a 20% extra gain in the casino.
Both of these tokens will be backed by the SVS and the Treasury. Both the SVS and the Treasury will be funded by the selling and purchasing of Aurum. The Treasury will also be funded by DEX fees. A portion of the SVS (Stable Value Source) will be used to help back Aurum as soon as it looks like a selloff is happening. A portion of the Treasury will be used to back Aurum if the price of Aurum continues to crash. In general, however, most of the Treasury will be used to back CHIMP. More of the SVS will back Aurum, but still, this will almost never pass 40%. This is because Aurum, as mentioned, is more of a utility token. CHIMP’s purpose will be to store value better. Thus, whatever parts of the SVS and Treasury are not allocated to backing Aurum, will back CHIMP.
Based on these dynamics, Aurum will support CHIMP and vice versa. Aurum will have value because it will have extremely valuable use cases in the DEX. The DEX will be supported by CHIMP, so if the price of CHIMP increases, the DEX will become healthier, and the price of Aurum will subsequently increase. Due to CHIMP’s value being primarily derived from the SVS and Treasury, and the SVS and Treasury being funded from the buying and selling of Aurum, if the price of Aurum increases, then the price of CHIMP increases. This shows that the coins will help each other grow in value.
You can check out their Website for more details. You can also follow them on Discord and Twitter to keep up to date with all things relating to AurumX.
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