CoinMarketCap takes a deep dive into Aurox (URUS), a lending platform that allows you to borrow cryptocurrencies and use margin and leverage trading efficiently.
Aurox (URUS) is a lending and borrowing platform that is fully decentralized and provides 4X margin lending capabilities. The official token of Aurox is URUS, which provides its holders with trading discounts, boost in interest rates, and staking rewards.
How Does Aurox (URUS) Work?
The Aurox platform offers two main features: Aurox Trade and Aurox Lend. Aurox Trade works as a traditional cryptocurrency exchange and provides margin features to its users. Aurox Lend is a platform that supports decentralized lending and borrowing by providing interest rate yields based on Aurox's capacity to lend to its margin borrowers.
The Aurox Lender ecosystem can be understood from the following diagram:
The Aurox platform earns its revenue from two avenues. One is trading fees - 0.15% of every trade value is charged from makers and takers, and margin fees - 10% of margin fee is charged from the fee paid by the borrowers.
The Team Behind Aurox (URUS)
The Aurox (URUS) platform is co-founded by three people.
Giorgi Khazaradze
Vast background in marketing, software development, and cryptocurrencies with the aim of converting Aurox into the most popular trading terminal in the crypto world.
Taras Motsnyy
A serial entrepreneur, Taras has vast experience with affiliate and ecommerce companies. He is also experienced in the financial world which includes the stock market. The main achievement of Taras is the Aurox Indicator which is capable of predicting market movements with +70% accuracy.
Ziga Naglic
A self-taught developer turned entrepreneur, Ziga has developed multiple software programs that have helped companies earn millions of dollars. His passion behind Aurox is to make it user-friendly and help others become successful in the blockchain world.
Unique Features of Aurox (URUS)
Margin Borrowers Need Less Collateral
Compared to Binance, Kraken, Fulcrum, and many other crypto exchanges, Aurox provides margin at a highly competitive rate. If a user borrows assets directly from the Aurox platform for margin trading, they enjoy greater leverage as compared to other DeFi lenders. For example, if a user wants to borrow $100 worth of ETH, they only have to show collateral of $25 USDC in their account.
Automatic Staking of Crypto Assets
Unlike many other crypto exchanges and trading platforms, where users have to manually stake their tokens, the Aurox trading platform provides its users with an automatic staking mechanism where their unused tokens are automatically staked for rewards, as mentioned below.
Use Cases of URUS Token
URUS is an ERC-20 token that powers the Aurox platform. It provides a lot of benefits to its holders, such as:
Major Discounts
Users who hold URUS tokens on the exchange wallet are eligible for certain trading discounts on the platform. They can pay the trading fees in URUS tokens or with any other currency, and for margin fees, they can pay 50% in URUS and the other 50% in the cryptocurrency that they borrow from the platform. In the first year, users will receive a 50% discount rate, which will decrease to 25% in the second year, 15% in the third, and 10% in the 4th year. From the 5th year, the discount will be terminated.
Boost in Interest Rates
Aurox Lend users can receive their interest earnings in URUS tokens. If a user chooses to be rewarded in URUS tokens, their yield will be increased by 20% until the reserve is depleted/exhausted. The interest rate reserve also has a 10% allocation of all URS tokens which will be used for lending purposes on Aurox Lend.
Interest Staking
Users can hold their assets on the Aurox Trade platform and earn staking rewards. Interest will be paid in the URUS token. The staking is calculated based on the usage of the assets, meaning only those tokens will be staked that are not being used. The process of staking is automatic and the user doesn't have to manually lock their funds to earn staking rewards in URUS tokens.
Aurox (URUS) Tokenomics
The maximum supply of URUS tokens is 1,000,000. The current circulating supply is 521,929.00 URUS.
Aurox (URUS) Price
Aurox (URUS) is now trading at around $171.83, as of Oct. 26, 2021. Its 24-hour trading volume on exchanges is around $2,912,396.32.
Aurox (URUS) Price Prediction and Future Outlook
The current crypto market update is good, if not great for the crypto users. Bitcoin (BTC) recently surged past its all-time high and many alts showed extreme appreciation in price. The Aurox (URUS) token which was priced around $128 less than 24 hours ago is now closing on $200. If current market indicators are to be taken seriously, the URUS token can easily breach the $300 mark in the near future. Here are some more reasons why this is likely to happen.
Not only are the interest rates high, but the Aurox platform is also a great place for margin traders as mentioned above. Traders need much less collateral to receive funds for margin trading. This is one of the big, if not the biggest advantage that Aurox holds over other DeFi platforms. Crypto traders who are passionate about margin trading can really attract a lot of users and the price of the Aurox token which is currently below $200, can surge up to $500 in the long run.
For first-time users, Aurox is a great platform as it provides discounts of up to 50%. This is a huge amount and many platforms don’t offer this luxury. This is why Aurox platform will continue to increase in popularity for first-time crypto traders, which luckily are also the highest in number, among all crypto users. The rise in users will create a huge wave of traffic towards the Aurox platform and the URUS token’s price will increase as users need to hold the token to get discounts.
As highlighted above, the unused assets of a user are automatically staked, which gives double profit to the end-user. They can earn rewards from staking as well as an increase in the price of their tokens. This feature is an attractive point for crypto users and potential investors as well. It gives a promise of double rewards and possibly many users will sign up on the Aurox platform because of this feature, causing a surge in the price of the URUS token.
Many crypto analysts are hinting towards the start of an alt-season in November. Some cryptocurrencies have already broken their all-time highs, while others are steadily increasing. This can be a great time to invest in alt-coins, which also include the URUS token. However, this indication of an alt-season is merely based on speculation, which is why it is advised to use a variety of technical indicators before investing in any crypto asset.
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