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Interview with the Xaurum Team.
What is Xaurum?
Xaurum is a cryptocurrency backed by 999,99 LBMA gold. Gold brings trust and stability to the currency and Xaurum expands this ideology further by introducing a constantly growing gold base by implementing Xaurum mechanisms. All the gold in the commonwealth is owned by Xaurum community and is exchangeable for XAUR anytime, anywhere. The ratio of gold/XAUR is constantly rising in favour of gold and when it is set higher it can never decrease.
Who is the team behind Xaurum and what is their experience in the gold and blockchain industries?
Xaurum was born in the head of Gašper Kenda, a young innovative lover of modern technologies who has had particular enthusiasm for precious metals and precious stones since childhood, primarily because of their emotional value, in the form of jewelry and memories of journeys, memories of people, and later also because of their constant value and strength in a constantly changing world.
Soon he began to realize what it means to keep the value in the real world and how to even increase it, how to overcome the consequences of inflation.
He began to look for a solution, and his goal was to create nothing more and nothing less than the perfect money, as it should be in the future.
The currency, which should not only retain its value, but also keep its value steadily, and it would also be more democratic than today’s FIAT currencies that are part of the system under the control of financial centers that are managed by the world through financial systems and people’s lives.
In the minds of the team gathered around the Xaurum project, two worlds met – a world of modern technologies that are changing the way of life of a modern man and a world whose history stretches from early civilizations, ancient Egypt, Aztecs, Mayans, industrial revolution, the development of capitalism and transition to the digital era.
To succeed with his vison, he connected with experts and business partners from around the globe. Now Xaurum project has its own sales team under the Masternodes, business development, legal, marketing, branding and PR department.
And in this three years he established strategic partnership with companies like Nadir Metal Refinery and Loomis International.
How is Xaurum’s gold base increasing, what is the source of the funds used to increase the gold reserves?
The event called Mint is most profitable for Xaurum project. When Mint happens, new XAUR are issued and gold is bought for commonwealth, but there is significantly more new gold than new XAUR so all the “extra” value is divided between existing XAUR, therefore increasing the value of the whole currency.
Second Xaurum mechanizm is Golden fee. Each xaurum transaction pays a fee of 0.5 XAUR, the fee is burned, therefore increasing gold/XAUR ratio.
Then there are our business partners who accepts XAUR as payment method and agreed to dedicate part of their profits to go in favour of Xaurum project by adding more gold to its commonwealth.
What are the main milestones Xaurum has in the pipeline for 2018?
Last two years Xaurum dedicated to building the infrastructure and main goal for 2018 is international expansion and opening the representative offices across the globe. Following this plan we are already present in Brazil, Australia, Portugal, Poland… There are also some technical advances we are preparing for 2018 and some great partnerships with other (crypto) projects. You can check 5-year growth projection here: https://xaurum.org/Growth%20Projection.pdf
What are Xaurum Masternodes, what are the requirements and what are the benefits to run one?
Minting requires a Masternode, possession of 8.000.000 Xaurum as the proof and guarantee of the common interest that the Xaurum commonwealth requires. Because minter possesses 8.000.000 Xaurum, he has the good of the whole in mind, as he profits both from the increase of the commonwealth and from seigniorage. It is therefore in his interest to sustain the market price both to keep profitingfrom seigniorage and for commonwealth to profit him directly.
Xaurum only works in ways that are consistent with legislation and advocates for strengthening regulation, which will provide lower risk and simplify access to crypto. Following these principles is necessary to ensure the longevity of the project and these efforts take some time.
On which blockchain are the Xaurum tokens hosted?
Xaurum tokens are hosted and secured by Etherum blockchain.
Where is the Xaurum gold stored and is it insured and audited?
Gold is stored by Loomis AB. Gold is insured by umbrella insurance, which means that if the vault with our gold is robbed or destroyed in any way, insurance covers lost gold. The gold reserves from the Loomis account are announced daily. You can find daily audits of gold here: https://xaurum.org/en/details/audit
Where can Xaurum tokens be bought?
Xaurum provides many ways to buy XAUR – from one-time purchase and regular fixed monthly payments through Masternodes, to acquiring XAUR through several leading global exchanges.
In Slovenia, Xaurum is now available on more than 300 new locations with via Bitins. Bitins cupons are available on gas stations of the biggest petrol company in Slovenia and via SMS for users of national operator – Telekom.
What is the cost to hold Xaurum tokens (directly or indirectly)- what are the fees charged for the storage and insurance of the gold – who pays for the fees?
There is no cost for holders, all costs are covered by Auresco Institute.
What is the most important differentiation between Xaurum and other gold crypto projects?
The most important differentiation is financial innovation of profitable inflation and continuously growing gold base. In case of many other projects the token represents the fixed ratio between gold and the token. In our case the ratio is constantly raising in a favor of gold and can never decrease, once it’s set higher. It is worth to point out that Xaurum is backed only with the physical gold.