$AUR Smart Contract Upgrade
As you may know, we requested a new smart contract audit from Solidity Finance three weeks ago, in a bid to further bolster safety and security for the team and all investors.
After bringing back their preliminary findings, which were very positive and determined our contract safe, they found that there were areas for improvement, namely in terms of gas optimisation and fees. In light of our impending ApeSwap listing as well as Wallet release- we had in depth discussions about this opportunity to potentially make changes that we had been considering before but would be extremely difficult at any other time.
Therefore, we came to the decision to upgrade our Smart Contract entirely prior to ApeSwap listing and in conjunction with our Wallet release.
What does it mean for $AUR holders?
Below is a graphical summary of the Aurum Contract Upgrade:
Key changes summarised:
LOWER SUPPLY- Gone are the days of quadrillions and an endless amount of zeros- we will be proportionally reducing our supply from 1 quadrillion to 1 billion — everyone will get the exact same percentage holding proportionally — so your holdings will be worth the exact same.
REDUCED TAX- We know our current high tax rates have been a deterrent for many new buyers — this will now been reduced down to 10% which is particularly important since utility coins rarely have high taxes.
REDUCED GAS FEES- We have fully optimised many of the smart contract features to cut gas fees significantly making trading and getting rewarded by AUR much more efficient.
LOWER MINIMUM THRESHOLD TO RECEIVE REWARDS- We have listened to your feedback regarding the minimum holding to receive rewards. This will now be over 90% lower, from what is current 11billion to 1 billion AUR — this will be 1000 AUR on the new contract.
DYNAMIC RESPONSIVE TAX SYSTEM- We will be able to adjust our taxes to increase/decrease rewards, marketing, buybacks according to the needs of the community.
The Migration Process:
All holders will automatically be airdropped the new token in the following ratio with no minimum holding requirement and no restrictions (to reflect the total supply changing):
NEW TOKEN: OLD TOKEN
1 : 1,000,000
Please note your new holding will have exactly the same value as your previous holding from when we halt transactions to when we redeploy since you will retain the same percentage of the total supply.
Upgraded tokenomics breakdown:
Aurum Contract Upgrade FAQ’s
Why are you relaunching again?
This is not a relaunch. Yes, we are upgrading our Smart Contract but everything else will remain the same — our name, branding, product developments, roadmap etc.
When will this be happening?
We are waiting upon Solidity Finance to finish auditing the new contract — we will then rearrange a new date for ApeSwap listing and deployment of the new contract. We will announce dates on all of our socials once this is all confirmed.
What do I need to do to get the new token?
Nothing — other than add the new contract address on Trust Wallet or Metamask. Bitmart holders should automatically receive the upgraded AUR in their wallet.
Why will I get less tokens? What will my new tokens be worth?
You will receive the exact same percentage of the total supply as you did before. This means the value of your holdings from when we stop transactions to when we redeploy on the new contract will be the same .
Why have rewards percentages been lowered?
High percentage rewards can be very lucrative but only if trading volume is present. We strongly believe that having lower taxes overall will be more attractive to new investors and generate greater net rewards overall. On top of this, due to our dynamic tax system, we have the option of increasing rewards percentages as and when required (i.e. double rewards week promotions) so we can actually have limited periods where we set rewards higher than they were previously.
What if you change the dynamic taxes to 100%?
Our dynamic tax system is capped at 20%- it can never go higher than this.
Will this affect Aurum Wallet development or release?
No — Aurum Wallet is being developed completely separately and contract upgrade will not affect this.
Aurum Wallet development
-Having resubmitted our latest build to Google Web Store — the Phase 1 Beta of the Aurum Wallet release is finally upon us. Privacy Policy and Storage Permissions have been addressed and we will be revealing the release date shortly.
-We apologise for the delays and in future, will not be setting any exact release dates until we are confident we can fully and comprehensively meet those deadlines.
-This release will be accompanied by our Wallet Roadmap- detailing future features being included in the upcoming updates and approximate timelines.
Aurum Pressure Vault
-After a sustained battle, Admonkey has taken this week’s Aurum Pressure Vault top spot, earning themselves the buying pressure from our Gold Pressure Vault and the top featured spot on our Rewards dashboard.
-Registration form for projects to sign up to the Aurum Pressure Vault can be found here.
Web development
-The design of the mobile version of our new website is being finalised this week. The last pieces of website content are currently being written. We now have two web developers ready to begin the coding stage to react which is estimated to take around 4 weeks.
-Mock up designs of our new Rewards Dashboard Dapp design have been completed. We will be looking to integrate this into our new website after the new website has launched.
Partnerships:
-As stated, once the Solidity Finance audit of our new Smart Contract is complete, we will be able to set an official date for ApeSwap partnership and listing.
-We will be announcing the partnership we have with the Top 20 project on Monday 27th September- stay tuned!
Marketing
-As mentioned last week, we have prepared more press releases in Tier 1 publications, scheduled for our upcoming partnerships and wallet release.
-Aurum will also be invited for an AMA within the ApeSwap Reddit community and be featured on the ApeSwap socials (with over 150k followers).
-Further strategies and actions ahead of full release of wallet will be rolled out gradually as per last week’s AMA update — CMC airdrop, Crypto Twitter influencers, Crypto Youtubers, giveaways etc.
Charity:
After our $1000 donation to Kids In Need of Defence, the next charity shortlisted for a community chosen donation will be World Orphans added to the existing charities: Sea Shepherd and Direct Relief . Voting will be undertaken on our Twitter page this week.
Community Members of the week
Each week the most positive, helpful, informative and engaged members with 5 billion AUR! This week’s winners are:
Discord: Puffuletsssss
Reddit: Safe_Mechanic_760
Twitter: TextualJoker
Telegram: Khana
To reward our most valuable community members who support the promotion of Aurum on social media and beyond, we have 1.75BNB worth of prizes to give away each week. A huge thank you to the following winners of this week’s prizes:
Aurum Army:
1. CM (1 BNB)
2. Menchie (0.5 BNB)
3. Chris Vegan (0.25 BNB)
Please DM mods within the respective platforms to receive your well earned prizes!
Thank you all greatly for your enormous contributions to the project’s growth and success.
We have a LIVE Twitch AMA on Tuesday 28th September detailing our future partnerships, listings and Wallet release date!
