What Is Aurox (URUS)?
Aurox (URUS) is a decentralized platform that allows users to lend and borrow cryptocurrency at a low cost. The platform also executes faster trading and offers margin lending. Margin lending means borrowing money for investing. According to the whitepaper, the platform aims to solve issues of Defi lending and provide solutions to DEX limitations. The Defi space relies on costly and slow smart contracts, and DEX takes time to record and update a transaction on the blockchain to complete a transaction. Such low performance may fail the transaction, and traders may lose. However, the Aurox platform has expertise in executing the DEX and uses features like indicators, configurable workspace, trade alerts, a news feed, etc., for the benefit of traders.
The platform merges Defi lending and borrowing markets with exchange’s margin borrowers. Aurox lends cryptocurrency to borrowers on a margin at a competitive rate. Lenders who provide capital to the lending protocol receive interest on yield as per the platform’s capacity to lend to the borrowers. Further, the Aurox platform charges a fee of 0.15 percent on every trade from borrowers and lenders and 10 percent margin fees from the borrowers. The users who borrow from the platform can expect better returns than the payable interest.
URUS is the utility token of the Aurox platform that follows ERC-20 token standards. URUS holders receive a 50 percent discount on trading and margin fees. Furthermore, token holders get an increase in a 20 percent yield on lending the tokens, staking rewards for holding Aurox tokens, and rewards for trading competitions and referrals.
History of Aurox (URUS)
Giorgi Khazaradze, TarasMotsnyy and ZigaNaglic founded Aurox in 2018. Giorgi used his marketing, software development, and cryptocurrency skills to help the platform succeed. Taras developed an algorithm for the platform that functions as an indicator and predicts the market with 70 percent accuracy. Ziga showcased his skills by enriching the platform with software service products.
The Aurox token (URUS) has a total supply of 1,000,000,000,000 URUS.
