Update on the AUX AID platform
Recently we’ve distributed the monthly interest through our AID (Auxilium Interest Distribution) platform for the months March and April.
We’ve been updating our infrastructure to cut costs. This meant a temporary process change; while dealing with changes due to covid-19. Our sincere apologies again for the delay, but like we said: all will be fine.
Currently we’re working on the connection between wallets and the network (the network is running fine by the way). The interest for May and June will be distributed as soon as possible.
A slight reminder of what the AID platform is and does.
Our Auxilium Proof of Authority system doesn’t use mining and/or staking to pay rewards. We’ve built the Auxilium Interest Distribution (AID) platform through which we pay all our coin holders up to 8% interest per annum just for holding coins — also when their wallet is offline.
AUX for interest distribution come from a premine account of 80 million AUX coins; included in the total supply cap of 300 million coins. From that 8%, coin holders give back: 0.64% goes to our charity fund for philanthropic projects and 0.64% goes to Auxilium research and development for for-profit use case development.
Interest distribution occurs on the 1st of each month and the calculation is based on the holdings you retain in your personal wallet across the month. Our goal is to continue distributing interest indefinitely, through recycling profits.
Automization of distribution*
The AID platform work semi-automatic at the moment. In the near future — once the new infrastructure is working like we want it — we’ll work on automization of the distribution. Meaning the AID platform will distribute the interest every 1st of the month without the team having to undertake manual actions.
We can hear you think: wasn’t there a big announcement being published this week?
The answer: yes, we’re waiting for the other party to sign an agreement before we can publish the news!