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RAUX entitles registered holders profits from ERCAU's two revenue streams. The ERCAU smart contract mints and burns RAU as gold is deposited with Partners and retrieved by Users.
#raux#rau#cryptocurrency
People should be able to utilize their gold in the digital currency age. However, if future Central Bank experiments in money fail, people should be able to retrieve their physical gold in order to protect their wealth.
#ercau#smartcontracts#GOLD#cryptocurrency
Difference between RAU and RAUX?
RAU represents 1 ounce of pure gold. It is minted & burned by ERCAU as gold is deposited and retrieved respectively. RAUX entitles its registered holders to a share of ERCAU profits, in the future it will be the governance token of the ERCAU DAO.
The ERCAU acts like a service for anyone who wants to tokenize their physical gold - from an individual to a Central Bank. Once gold is independently secured, RAU tokens are minted. This token will be tradable on exchanges turning illiquid physical gold into a liquid token.
The future is digital. The world's gold must be tokenized. Either we see endless "tokens" backed by this or that holding all vying for liquidity and adoption, or everything converges on a single solution for tokenizing it all.
#ercau#raux#Crypto#GOLD
ERCAU is an Ethereum smart contract, Incase you don't know "A smart contract is an agreement between two people in the form of computer code. They run on the blockchain, so they are stored on a public database and cannot be changed. "
#ercau#Crypto#Ethereum#smartcontract