Auctus (AUC) is the world’s first blockchain-based retirement planning platform, allowing users to create a diversified portfolio, encompassing traditional asset classes and cryptocurrencies. Auctus’s mission is to empower retirement savers and provide information needed to make informed decisions using Ethereum smart contracts and robo advisory.
The Auctus platform is a global smart contract-based retirement and goal-based savings platform with specialized portfolio management services for traditional bond and equity investments, also like crypto investments.
The platform offers users an aggregated view of all retirement savings, from government-managed IRA / 401k plans, voluntary traditional retirement plans, as well as crypto wallets. Only with this holistic view can well-informed decisions and a professional long-term strategy be established.
Advantages:
- Smart contract powered fee structure
- Blockchain robo and human advisor tracking record
- Fee transparency
- Decentralization of ownership, decision making and operational processes
How does Auctus work?
The main feature of Auctus is the use of code-checking smart contracts. The platform uses this code to ensure transparency and full compliance with the platform regulations. Smart contracts also allow the calculation of contributions, labor combinations, benefits and other features – including profile investment selection jobs, benefit subscriptions, computations management and mobile computing between funds.
Basically, Auctus’ smart contract and blockchain-based system replace the entire fund management structure.
It removes the intermediary management itself and replaces it with blockchain. The end result is reduced costs, providing better security, greater transparency, and more efficient funds for those who truly trust the platform.
What is the AUC used for?
The Auctus will be the utility token at the heart of the DeFi products developed by Auctus.
- Buy-back & burn AUC tokens is equivalent to 100% of the fees charged on Auctus DeFi products
- Reductions and other discounts on Auctus DeFi products
- Unlock exclusive features by holding down the AUC
What problem does Auctus seek to solve?
Auctus developers believe that today’s retirement fund industry can benefit from disruptions. Here are some of the industry issues, as identified in Auctus’ prospectus:
Poor governance:
Ineffective governance practices in the retirement fund industry, lead to poor performance. Auctus believes that a system with full transparency facilitates the control of managers and participants, thereby promoting better governance.
Contribution collection:
Platforms do not have standard contribution collection procedures, which often leads to operational problems. Keeping remittance records can be a daunting problem for smaller retirement funds. Large retirement funds don’t have this problem, but they still need to maintain high-cost systems to manage transaction records.
Hidden costs:
Not all retirement fund participants are aware of the costs associated with their retirement. The management fee is just one kind of expense. Other costs include transaction fees, asset management fees, reporting costs …. all of these costs are hidden. They reduce the return on net investment and can significantly reduce the amount retirees can receive – and many investors do not fully understand these fees.
Scam:
About 20% of retirement funds have reported fraudulent activity over the years, according to Auctus’s prospectus. Common frauds include stealing funds, ghost accounts and transaction fraud.
Data management:
Data management is very important for any investment fund. However, existing systems make it difficult for managers and trustees to trust available data.
These problems get worse over time. Auctus cites issues like the 2008 financial crisis and an aging population as the reasons the retirement fund industry is struggling to compete. Auctus aims to solve these problems using the Ethereum blockchain and smart contracts.
Team
Vinicius Melo – Head of Strategy
Formerly an investment analyst. He used to work at one of the major Brazilian pension funds (FUNPRESP-JUD). He holds a Brazilian Certificate of Investment Analyst.
He holds a Bachelor of Mechanical Engineering.
Thiago Araujo – Senior software engineer
Thiago has 10 years of experience as a software engineer. Before joining Auctus, he led a lot of large scale software while working at dti digital.
He holds a BA in Control Engineering and Automation.
Ariny Guedes – Lead Ethereum Engineer
Ariny has over 10 years of experience as a Software Engineer, 7 years at dti Digital. He is an expert on C #, Java, C ++ and Ethereum Blockchain.
He holds a BA in Control Engineering and Automation.
Iuri Santos – UI / UX Lead Designer
Iuri has over 10 years of experience as a UX designer. He is responsible for discovering and developing ways to design and improve user experience.
He has a Bachelor’s degree in Social Communication.
Conclusion
Auctus aims to destroy foundational works using blockchain technology. Today’s industry is not very transparent, so investors and returnees often struggle with a retirement plan because it is difficult to determine how much money they will pay in retirement.
That is where Auctus sees an opportunity for himself. Auctus uses the Ethereum blockchain and smart coins to provide the full range of transparency, immutability, security, and automation of processes. All the rules of the land fund are encrypted in the smart coin to increase compliance and regulation. Blockchain acts as an intermediary, which means lower input costs. That leads to lower overall costs and better returns.
You can check AUC price here.
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