Kriptoks

The downside of fiat money, according to many financial experts, is its lack of scarcity. Centralized institutions control the supply of fiat currency, making it vulnerable to mismanagement. Unfortunately, even digital currencies that claim to be decentralized are still tied to the value of a fiat currency.

Auric, however, is a synthetic, elastic currency that derives its value from gold instead of a fiat currency. Auric's token, AUSCM, aims to mirror the price of gold within +/-5%, and it adjusts its token supply (known as a rebase) automatically until it reaches equilibrium. The rebase occurs once a day, and a positive rebase happens if the token price goes above 5% of the price of 1mg of gold, increasing the total number of AUSCMs. Conversely, a negative rebase happens if the token price falls below 5% of the price of 1mg of gold, contracting the total number of AUSCMs.

Auric's supply is designed to expand or contract based on the reference gold price taken from Chainlink's oracle index. This elastic supply ensures that the value of AUSCM remains stable and reliable.

Auric also offers "Gold Rush V3" rewards, a staking rewards pool that is continuously irrigated by a portion of the supply expansion. This pool receives 5% of total staking rewards and 10% of positive rebases.

The protocol also features a full on-chain governance system with a dedicated treasury that supports stability and growth. This governance system is designed to be fully decentralized, ensuring that the Auric community has a say in how the protocol operates and evolves over time.

In conclusion, Auric's synthetic currency is a unique alternative to fiat and traditional digital currencies. By basing its value on gold, Auric creates a reliable, elastic supply that expands and contracts based on market conditions. Its "Gold Rush V3" rewards and on-chain governance system also ensure that the Auric community is engaged and incentivized to help the protocol thrive.