Aurora (IDXM) ICO

updated 01 January 2018

Cryptobanking and Financial Platform

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Status: ended
Public sale: 11 Dec`17-11 Jan`18
Cap: No info
Goal: No info
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About Aurora

Aurora is a suite of dapps and protocols that together comprise a fully decentralized and autonomous banking and finance platform. Complete with its own stablecoin, the boreal, Aurora aims to recreate and improve upon the existing financial ecosystem in a decentralized fashion. Aurora offers a stable, private, and open financial system to anyone in the world regardless of geographic location, class status, or privacy preferences. The primary components of Aurora are a cryptocurrency bank (Decentralized Capital) and a financial asset exchange (IDEX) which work together to offer the same financial services of the modern world. All of Aurora operates on a distributed computing network and utilizes an EVM compatible childchain for transaction processing, decentralizing the whole system and enabling it to run autonomously.

Inspired by F.A. Hayek’s and George Selgin’s work on Free Banking theory, Decentralized Capital supplies loans in a decentralized stablecoin known as boreals, and provides modern day banking services to those who are underserved by the current system. The boreal is backed by a combination of cryptocurrency reserves, debt from loans, and dapps endorsement, ensuring price stability that is on par with existing fiat options. In addition to providing banking services, Decentralized Capital will market make on IDEX, helping maintain boreal price stability, and hedge the reserves through tools such as predictions markets. Traders on IDEX can utilize the boreal as payment for trading fees or as a stable base currency, ensuring that there is demand for boreals early on within the Ethereum ecosystem. Once boreals are an established stable currency within the cryptosphere, Aurora will begin expansion into other markets while Decentralized Capital will transition to sustainable fractional reserve banking.