Auctus Project Breakdown
Coming hot off a successful ICO – which raised nearly US$4 million and closed early in order to speed up development of their platform – Auctus is a decentralized and fully transparent smart contract retirement planning platform, putting retirement back in the hands and control of savers. Auctus allows savers to:
Create and manage optimized portfolios – including stocks, bonds, and cryptocurrencies
Obtain necessary savings and retirement information
Run holistic portfolio analytics
Consult robo and human retirement advisors
Save on exorbitant hidden asset management, transaction, trading, custody, and reporting fees
Not to mention, Auctus is community-driven, which means eventually anyone in the world will be able to purchase or create advice and tools without the need for costly middlemen.
In an industry plagued by highly centralized storage of personal and financial information, fraud, sub-par advice, and hidden costs, Auctus offers a refreshing and adaptable solution via their result-oriented, transparent, and low-fee smart contract structure.
Why We Like Auctus
Although the retirement industry doesn’t have the same glitz and glam to it as other blockchain use cases – such as cloud computing, AI, and RFID technology – it’s a behemoth-sized market, with the P22 pension markets (the 22 largest pension markets in the world) estimated at nearly $41.3 trillion in 2017.
In 2018, Auctus launched their alpha platform, along with a simulated investment challenge and tournament platform where users compete for prizes in AUC tokens – the aim being to have users test the alpha platform with play money and give feedback. And in the spirit of replacing centralized components of the platform with decentralized ones, Auctus has partnered with:
Melonport – for asset management
0x, Ethfinex, and Amadeus – for trading
Bluzelle – for data storage
Maker – for stable assets
Request Network and Ripio Credit Network – for payments and asset lending.
To get into the nitty-gritty details of Auctus and its platform, check out their website, white paper, and social media channels (Facebook, Twitter, Reddit, Telegram).