Xaurum is holding a RICO (Rebirth Initial Coinage Offer) between 18 and 30 July.
What is Xaurum?
Xaurum is a cryptocurrency which has a gold base value and can be exchangeable for it using a process called melting. What’s interesting about Xaurum is that its gold base value increases with its use and coinage.
Why a Rebirth?
Up until now, the Xaurum currency was (and is still) known as XAU (coinmarketcap), the Rebirth intends to collect all XAUs in circulation and split them into 8000 XAURs (the new ticker of the currency after the RICO), it also aims to collect funds to buy gold and generate additional XAURs in a process called minting. Outside the RICO, minting can only be done by what is called masternodes, a masternode must possess 1000 XAUs, but during the RICO, minting is open to all investors.
Why should you invest (now)?
Minting is the most profitable process when it comes to Xaurum, however, this process needs considerable amounts outside the RICO, during the RICO everyone can mint. Minting has a cost: Taking a XAU as an example, at the begining of the RICO, 1 XAU was priced at 454.13$ and the mininting cost was 291.03$, this means that to mint a XAU (8000 XAURs) an investor would invest 291.03$ (163.1$ less than the market price of a XAU at that time).
During the RICO, minting is operated every three days. The cost of the next minting will be greater or equal to the cost of the previous minting, meaning that the earlier you invest the lower the cost of minting will be, the higher your profit will be.
More on the formula to calculate minting cost (and other stuff) here.
How to invest?
Create an account on rico.xaurum.com, you may then transfer cryptocurrency (BTC, LSK, ETH and XAU) and/or fiat (USD, EUR, GBP and RUB). Note that a XAU will be converted at the fixed rate of 1 XAU = 8000 XAURs whenever you transfer it during the RICO (there is no advantage in sending XAUs early on). Other funds will be used to buy gold to increase the gold reserve hence increasing the gold base value of a XAUR.
Xaurum is not a substitue for gold, its base value increases and its market price is way greater than the value of its gold base, indeed, Xaurum’s market price has never gone lower than the value of its gold base. Xaurum tries to produce a better form of money regarding many aspects of modern-day money.
Who is behind Xaurum?
Auresco Institute a non-profit, non-government legal entity manages the purchase of gold, the gold is purchased from Nadir a turkish gold refinery and is stored in Loomis Stockholm (a web access to the balance-sheet will be available for the public to inspect the stored reserve).
The next and last minting will be held on July, the 30th at 12:00 CET, a few days from now, try your best to be part of it ;).
More information about the project
RICO’s official announcement on bitcointalk
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