https://blog.auctus.org/auctus-is-shifting-focus-to-defi-new-product-being-developed-no-loss-crypto-investing-platform-331331dac840This blog post will give more details of where we are and what we will be doing in the coming months. Auctus faced several challenges and some team members left last year to allow the company to cross the bear market in a healthy way. Now the company has adequate resources and structure and the market is more mature, with the appearance of protocols such as Compound & Uniswap that allow the development of on-chain finance applications. Therefore, Auctus will shift all efforts to develop new on-chain applications instead of focusing on previous products developed.
Our first DeFi initiative: dPiggy - 100% Dai Principal Protection
Our first product to be launched in the coming months will have its own brand and will be called dPiggy, it will be a platform for investment in crypto with 100% Dai Principal Protection, built on top of Compound & Uniswap. It will be the first on-chain product that will provide an opportunity to invest in crypto without taking capital risk. The details on how dPiggy works under the hoods will be detailed with the launch of the dPiggy website, but we anticipate that the token will be an essential part of the product, as detailed below:
Buy-back & Burn of AUC
An annual fee will be charged which will be 100% used for buy-back & burn of AUC tokens, we foresee an initial fee equivalent to 0.5% per year on the amount invested in DAI. This burn will be done automatically with the purchase at Uniswap and the burn method done directly by the smart contract every time the rebalancing is done.
100% Fee Discount by Locking AUC
In addition, it will be possible to obtain a 100% discount on fees by buying and placing a fixed amount of AUC in escrow. The amount is yet to be defined, but we expect it to be around 10k-20k AUC.
This is only the first product, and we invite everyone who is interested in giving suggestions for improvements and new DeFi products to enter our Telegram. Any idea will be considered as a possible next step. Auctus plans to become one of the leading companies developing DeFi applications and we invite everyone to be a part of this process.
We thank our community for all the support that keep us motivated to work hard.