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Auctus (AUC) ICO Review – ICO Token News

Retirement planning industry is not very transparent. Retirees and investors struggle to plan for their retirements and pension as it is extremely difficult to determine exactly how much money they will be paid during retirement.

The need for financial advice has increased significantly since the financial crises around the world are gaining in magnitude. Lack of financial literacy, record low yields, volatile markets and aging population are jeopardizing the future retirement income of individuals around the world.

Auctus seeks to put the retirement savers back in control of their retirement plan by providing access to blockchain-based and transparent global investment platform that allows them to systematically develop optimized portfolios of cryptocurrencies, stocks, bonds and other financial assets.

Auctus Intro

Auctus (AUC) Analysis

What is Auctus (AUC) all about?

Auctus seeks to disrupt the retirement planning industry using smart contracts and Ethereum blockchain technology. All the rules of the retirement fund planning will be encoded in Ethereum blockchain for increasing compliance and regulations.

No hidden fees, easily auditable and compliant, flexibility, scalability, transparency, faster processing, and ongoing monitoring will be primary benefits of Auctus.

How does this Auctus platform work?

Smart contract auditable code is one of the critical features of this platform. The development team makes use of the smart contract auditable code for ensuring complete transparency. Calculations for contributors, employer matching and compliance with the fund’s rules are also ensured by the smart contracts used in this platform.

Selection of investment profiles, portability between funds, administration fee calculations and registration of beneficiaries are also allowed due to smart contracts and blockchain technology. The financial management middleman will be cut out by this platform and replace it with the Ethereum blockchain technology.

The platform will result in lower costs, a more efficient retirement funds, better security and better transparency for the people who actually rely on that fund. Through customization costs, a fund set up, an annuities marketplace, and platform fees, this platform seeks to monetize the business of retirement fund and pension industry.

What Auctus (AUC) aim to be?

This platform is a decentralized, trustless, transparent blockchain-based retirement and goal-based saving platform for traditional equity on bond investments and cryptocurrency investments with specialized portfolio management services.

Features of this platform

  • This platform will allow a unique mix of cryptocurrencies and traditional investments.
  • It is transparent and trustless.
  • It will enable users to make well-informed decisions.
  • Country: British Virgin Islands
  • Restricted areas: USA, China, Singapore, Kuwait, South Korea
  • The community-run can be customized to individual needs with tailored apps.
  • This platform allows operating and consulting analytics.
  • This transparent platform will allow robo-advisory on the entirely of retirement savings.
  • The decentralized platform gives the user a holistic overview of all retirement savings.

Auctus Advisory Board

What problem is Auctus (AUC) solving?

  1. Inadequate communication

Majority of the retirement plans providers around the world treat members in an authoritarian way. Occasional updates without necessary transparency and proper engagement are provided to members by the retirement plan providers. Members feel that they are control of their investment and are loyal to the retirement plan agency due to lack of alternatives.

  1. Lack of engagement

Level of engagement with financial advisors around the globe is disappointingly low at a time when the need for financial advice is so great for many individuals who are planning their retirement.

  1. Changing lifestyles

Majority of retirement systems worldwide often lack innovation and flexibility of adapting to new circumstances. Employees are changing their employer more frequently as their lifestyle has changed over the past decades. In addition, they might even change their jurisdiction and domicile over their career.

  1. Poor governance

Poor performance in the retirement fund industry is resulted due to poor governance.

  1. Data management

Lack of proper data management makes it difficult for managers and trustees to have complete confidence in the essential data available to them.

  1. Fraud

More than 15% of the retirement funds have reported fraudulent activities in the past two years. Stealing fund assets, misrepresentation, transaction fraud, and ghost accounts are some of the common types of frauds associated with retirement planning industry.

  1. Hidden costs

Majority of the members of retirement planning system are not aware of the cost involved with their retirement funds. The administrative fee, transaction, trading, management fees, asset custody fees, regulatory fee and reporting fees are some of the hidden charges that individuals pay for availing their retirement funds.

  1. Aging population

Driven by declining birth rates and longer life expectancies, the crisis for retirement plans has now become critical.

  1. Record low yields

Low-interest rates mean low yields on bonds for retirement plans that make it difficult for retirement plans to secure future income for their member. Due to low bond yields, many retirement plans have found themselves underfunded.

Why is Auctus (AUC) a good project?

Many of the issues associated with current retirement plan industry can be efficiently solved by adding robo-advisory and analytics tools in their business model by applying Ethereum blockchain technology and smart contracts.

Ethereum network is utilized by the development team of Auctus in different areas with the following purposes such as Fee Structure, Human Advisor Tracking Record, and Blockchain Robo.  Some of the benefits of utilizing smart contracts and blockchain technology in the development of this platform include:

  1. Fee transparency

Use of cutting-edge smart contracts and blockchain technology in the development of this platform will ensure full fee transparency.

  1. Payment Gateway

The state-of-the-art Ethereum network used in the development of this platform allows for global and efficient payment network. This will allow for a truly global platform and simplify global standardization.

  1. Trust

This platform will solve the issues of the trust by utilizing the immutability, record keeping capability and transparency of the blockchain.

  1. Enabling a decentralized marketplace

Retirement apps for this platform will help users to customize their dashboard for analyzing data as well as robo-advisory apps. The core development team have the app organized as a decentralized marketplace instead of having someone centralized authority manage it. Smart contracts and automated payments are used for development of this platform as decentralized marketplace according to smart contract terms and regulations.

  1. Global

There are significant benefits of having a decentralized platform with a global community. This platform will remain adjust and dynamic to local customs, preferences or laws.

  1. Community-driven

It is a community-driven platform to create or purchase tools and advice without any middlemen in between. This platform allows the development team to be truly decentralized due to Ethereum network along with smart contracts.

  1. Blockchain Robo and Human Advisor Tracking Record

This platform will provide a permanent track record of all suggested robo-advisor predictions and portfolio allocation due to inherently immutable record keeping system of blockchain technology.

  1. Smart Contract Powered Fee Structure

This platform makes use of smart contracts for development of a result-oriented, low fee and transparent structure. The AUC token will stay in a trustless escrow and fees are paid only for right and robo-advisor prediction. Fee transparency of this platform will allow each user to know exactly what they are paying.

Auctus (AUC) technology

Based on previous experiences of market best practices and similar platforms, Auctus will systematically evaluate the best development practices the emerging Ethereum blockchain technologies, micro-services, and cloud/containerized computing.

  1. Auctus Platform FrontEnd

The front end of this platform will be built for both website and mobile devices. Angular 5 will be used to build the web platform.

The development team will develop some POCs for evaluating cross-platform solutions such as React, Xamarin or Ionic Native.   Mobile and web clients will be developed as a thin client. Both the clients will be able to access Auctus business layer through an API Gateway.

  1. Auctus Platform Backend

The backend of this platform is developed on Ethereum blockchain using smart contracts. The team makes use of solidity programming language as the main mechanism for the purpose of building smart contracts on cutting-edge Ethereum blockchain.

Smart contracts are used to provide a result-oriented fee structure, transparency, and automation. The smart contracts that are used for developing AUC tokens are compliant with ERC-223.

  1. Authentication & Authorization

Two ways will be used for performing user authentication in this platform.

  • OAuth2 SSO will be used for providing users access to platform off-chain.
  • METAMASK will be used for providing users access to Ethereum network integration features.
  1. API Gateway

Integration abstraction layer will be provided by the API Gateway. It will expose all the services needed to interact with the platform backend. The API Gateway layer will help development team to manage Service Transformation, Service Authentication, Response Caching, API Versioning, and Request Logging, Usage, Performance and Health Analytics.

  1. Auctus Platform Microservices

A set of microservices developed using the ASP.NET Core framework and hosted on Docker containers will be included in the backend module of this platform. Web and mobile applications will be supported by these microservices.

  1. Portfolio Performance Microservices

Exchange API will be used to track cryptocurrency historical value. Market history API will be developed by the team to track historical performance of traditional assets.

  1. Off Chain Async Transactions

Off Chain Async Transactions will be responsible to provide decoupling between the Ethereum network integration and the microservices layer. It will systematically improve the user experience on this platform and ensures transaction deliver.

Auctus Token Sale

AUC Token Price and Token Sale

Every user of this platform will need to have a certain amount of AUC token in escrow to use its services. Payments on the marketplace can be linked to results. All the transactions and payments carried out on the marketplace will have to be settled in AUC tokens. Companies and individuals offering their products or services on the marketplace will be paid in AUC tokens only. Just like other ICO tokens like ORIGAMI NETWORK, Bountie, Fintechbit, KaratBank, HeadStart, BunnyToken, Seal, Streamity, AUC token will be built on Ethereum blockchain technology and smart contracts.

AUC token details

  • Token symbol: AUC
  • Price of Pre-ICO: 2500 AUC = 1 ETH
  • Price of ICO: 2000 AUC=1 ETH
  • Hard Cap: 20 million USD
  • Soft cap: 3,000,000 USD
  • ICO AUC token start date: 27th March 2018
  • All unsold AUC tokens will be burned.
  • There is no minimum investment for investors to invest in ICO.
  • ETH will be accepted as a mode of payment.
  • No additional tokens will be issued after ICO token sale.
  • The AUC tokens will be available instantly after the ICO sale

How to participate in the ICO sale?

In order to participate in the ICO sale, participants require KYC (know your customer) and AML verification. The process of KYC will be opened well ahead of the ICO token sale. All the instruction about the verification process will be sent to all whitelisted email address.

AUC token distribution

  • 2% of the tokens will be reserved as bounty rewards.
  • 9% of the tokens will be allocated for partnership and advisoring.
  • 18% of the AUC tokens will be allocated as a reserve for future stakeholders
  • 20% of the AUC tokens will be allocated for the team.
  • 51% of the AUC tokens will be released for sale during the ICO sale.

Auctus Token Sale Overview

Usage of funds collected during the ICO tokens

  1. 42% of the funds collected through the ICO sale will be used by the team for future product development.
  2. 28% of the funds collected through the token sale will be used for business development.
  3. 18% of the funds will be used for communication and marketing of the project.
  4. 12% funds will be used for other expenses.

Team

Auctus relies on a team of qualified and experienced professionals just like other ICO tokens such as Enlte, Adblurb, BlockFood, ECOS, World Wifi, PumaPay, ShopIn, Phoneum.  The key members associated with this project consist of Raphael Vantroost (CEO), Daniel Duarte (CTO), and Vinicius Melo (Head of Strategy).

Auctus Team

Summary

Auctus is first decentralized retirement plan platform of the world with cryptocurrency and traditional assets. This platform uses smart contract audible code for ensuring full transparency and accordance while reducing fees and maximizing returns for cryptocurrency and traditional investors. The cutting-edge blockchain technology provides a permanent track record of all suggested robo-advisor predictions and portfolio allocations.

So, the users will be able to explore robo-advisor performance by comparing actual and excepted returns and against their competitors. Any ICO investor should consider joining Auctus ICO sale as it is the future of retirement and goal-based saving systems.

If you want to know everything about investing in ICO, read our page how to invest in ICOs.

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