🏦🌃Aurora Ecosystem –“THE First Fully Dencentralized Crypto Bank w/ Live Real Time Exchange IDEX"🌃

Developing on the concept of free banking, Aurora is a decentralized financial institution with various solutions. It works on the principle of free banking where the entire system does not revolve around one central bank thus disrupting the concentration of money from one single entity. This uneven distribution of money has become a really big problem in the current banking scenario. Aurora provides a stable banking and financial system on the Ethereum network. It is targeting to improve the current financial ecosystem in a decentralized fashion
(https://auroradao.com/)

Back in the early days, ‘monarchs’ used to hold all the wealth, now in 21st century still the wealth is highly unevenly distributed and concentrated in the hands of those who control it. Aurora is platform crafted to solve this crucial issue
(https://auroradao.com/)

What is Aurora and what are its components ?

Aurora is a decentralized banking and a finance platform. The banking unit is called “decentralized capital” and the trading unit is called “IDEX”. By providing loans through its (stable) currency called ‘boreal’, ‘decentralized capital’ works like just any other modern bank but does not follow favoritism. The loans on this platform are sanctioned in regard to the current digital reputation of the borrower. This reputation is also the deciding factor for the interest rates on loans from decentralized capital.

IDEX on the other hand is a stable, fast and reliable trading platform with ‘boreal’ as its trading currency. By increasing the demand for Boreals it makes the currency more stable hence strengthening the entire ecosystem.

IDEX stands for International distributed ethereum exchange on which fees may be paid as ‘boreals’ which increases the boreal acceptability as a stable coin and provides currency for immediate use.

‘SNOWGLOBE’ is a protocol for ‘EVM compatible’ childchain exchanges which allows all exchanges on the platform to share liquidity in one orderbook. (Source: – Aurora white paper)

‘Boreal’ is the currency that is used for nearly all transactions on this ecosystem. It is a stable coin whose value is intended to be kept constant with respect to the US dollar. The only exclusive supplier of ‘boreals’ is the bank, ‘decentralized capital’ itself. They are backed by a combination of debt and reserves in ‘ether’ (Coin of the ethereum platform).

Below is a diagram showing the working scheme of the IDEX on the ethereum platform. The ‘smart contacts’ on the ethereum platform will allow traders to establish their trade and this will have special discounts if boreal is used as the base currency to trade.

( https://auroradao.com/assets/Aurora-Labs-Whitepaper-V0.9.4.pdf)

LOAN PROCESS ON THE AURORA ECOSYSTEM:-

The loan is approved by decentralized capital after a thorough background check (for digital reputation). Once a loan is approved the loan is granted in terms of boreals which can later be converted to other coins or used as it is.

The key point to note is that the repayment of the loans will be done only in boreals thus creating a demand of the currency. This demand can be full filed either by the supply through ‘decentralized capital’ or can be bought at a rate of 0.5% transactional fee from ‘decentralized capital’.

Any user on the ethereum platform can apply for the loan. Identity services such as uPort and Repsys will prove candidate’s trustworthiness. If the loans are be collateralized the interest rate will be low.

IDEX the trading platform on Aurora and its membership sale!

‘Alex wearn’ the Ceo of the aurora ecosystem is well known for sales and marketing of multiple products of giant companies like Adobe, Amazon, IBM etc. The overall team is well balanced with experts from their respective fields.

IDEX allows trading via ‘smart contacts’ which by undergoing several authentication steps in the makers and the takers contacts update the balance in their wallets. After every such trade the traders will be allowed to trade again with updated balance.

If the user is using boreal as their trade currency they are given 5% special discount initially to increase the demands of ‘boreals’.

DVIP is a membership sale that offers discount trades on IDEX till 2020 and other benefits like ‘rewards for life’ and can be redeemed to buy AURA (1 DVIP = 50,000 AURA) later. A total of 1700 DVIP’s are available for the membership sale (total – 2000). These DVIP can be divided to 8 decimal places and rewards are given on pro rata bases. (Source –website)
Aurora’s DVIP membership is a must buy for traders and investors who are interested in this surreal ecosystem.

Website: https://auroradao.com/
Whitepaper: https://auroradao.com/assets/Aurora-Labs-Whitepaper-V0.9.4.pdf
Twitter: https://twitter.com/Aurora_dao
IDEX Exchange: https://idex.market/eth/eos

Written By: https://twitter.com/ICO10xMessiah

Join The Sale: https://auroradao.com/tokensale/