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Relevant considerations about the project

About Auctus

What is Auctus?

The Auctus Project was created with the mission of improving the retirement market by increasing transparency and eliminating common problems such as corporate governance issues, corruption, fraud, bribery, and bureaucracy, as well as lowering operational costs.

Through smart contract auditable code, the platform will ensure full transparency and compliance to fund rules and will furthermore allow calculations for contributions, employer match, benefits as well as other features, such as selection of investment profiles, registration of beneficiary designations (in case of death), administration fee calculations and portability between funds.

Auctus is latin and means growth. We believe that blockchain and smart contract can enhance the retirement market, allowing retirement plans to grow faster and pension savers to reach their goals earlier.

Auctus’ administration is based in Zurich, Switzerland. The development team and part of the management is based in Belo Horizonte, Brazil, where Auctus was founded.

Across the globe, individuals and governments face the reality that people are not saving enough to meet their retirement needs. A combination of slow global economic growth, volatile markets, record low yields and an aging population imposes insurmountable pressure on retirement plans across the world.

With the ability to manage operations with more transparency, lower costs and easier auditing/control, the adoption of a unified platform for retirement plans would be of great advantage for employers, employees, managers and regulators alike; however, it would require a transparency mechanism to prevent the platform from being controlled by an entity or group of people with the ability to corrupt the system according to individual interests. This risk can be circumvented with the use of blockchain technology.



Auctus Token (AUC)

The Auctus token (AUC) is the sole means to make payment on the platform. Fees and commissions will be paid using Auctus Tokens (AUC) only, making the token an integral part of the Auctus Platform.



Token Launch and Usage of Raised Funds

The total supply of AUC tokens depends of the amount raised in the pre-sale and ICO. 51% of all tokens will be distributed during pre-sale and ICO. [(ETH raised in pre-sale*2500)+(ETH raised in ICO)*2000]/0.51

As the hard-cap is 90,000 ETH, the maximum total supply will be 90,000*2500/0.51= 441,176,470.5 AUC

Pre-sale was held from Oct 3rd to Oct 7th, 2017. Here follows some stats about our pre-sale:

  • 958.9 ETH raised
  • Soft cap of 400 ETH raised within 10h 56m only
  • 272 valid transactions completed
  • 254 distinct addresses
  • An average of 3.52 ETH per participant
  • Min cap surpassed by 240%

ICO is schedule to happen on the first quarter of 2018.

Participants should check the legality of purchasing AUC tokens in their own jurisdiction.

Up to 1000 ETH raised during pre-sale will be used for initial business set up expenses, PR, marketing services, explainer video and prototyping. Funds exceeding 1000 ETH will be locked by smart contract and attributed to the ICO fundraising.

Pre-sale participants will be able to convert pre-sale tokens with the corresponding ICO smart contract function, as soon as the ICO smart contract is deployed. Detailed pre-sale token migration instructions will be made available on the ICO page: https://auctus.org

No. All AUC tokens will be minted in the initial distribution.

No, after distribution is over, AUC tokens allocated to public distribution will be available for transfer.

  • 20% of AUC created will be allocated to Auctus’ Core Team: founders, early backers and the development team, for a long term alignment of interests.
  • 51% of all tokens will be distributed during pre-sale and ICO to public contributors.
  • 18% of tokens will be reserved for future stakeholders, to allow for possible capital raises in the future and will be locked via smart contract for 12 months after initial distribution.
  • 9% of tokens are allocated for pre-sale partners and advisors.
  • 2% of tokens are allocated for bounty campaigns to help us spread the word about Auctus. Those tokens will have the same rules as those allocated to public contributors.

AUC tokens allocated to Auctus’ Core Team will not be immediately tradable. They will have 2 years vesting with a 6-month cliff. This means every 6 months, 25% of those tokens will mature . Tokens allocated to partners and advisors will have 6-month vesting with 3-month cliff. The vesting rules will be enforced via smart contracts.



Team

You can join our Slack and also participate in our bounty programs.

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