AurusX
Crypto Overview
Overview
AurusX (AX) is a cryptocurrency associated with the Aurus ecosystem, which aims to tokenize precious metals and commodities. The token serves as a revenue-sharing token within the Aurus Protocol.
Purpose and Utility
AurusX's primary purpose is to distribute fees generated from the Aurus ecosystem to token holders. The fees come from the trading and management of gold-backed tokens (AurusGOLD) and other precious metal-backed tokens on their platform.
Business Model Analysis
The business model revolves around revenue sharing from legitimate commodity trading activities. The underlying assets (precious metals) are real and physically backed. The token represents actual ownership in the fee-generation process of the protocol.
Current Usage and Adoption
The token has limited adoption and trading volume. However, this is not a concern from a Sharia compliance perspective as the underlying business model and utility are legitimate.
Platform Development
The Aurus ecosystem continues to develop its infrastructure for precious metals tokenization. The development team maintains regular updates to the protocol.
Crypto Impact
To assign a comfort level investing in AurusX from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to AurusX.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.