The Auctus Platform will provide users with the tools and services needed to achieve their retirement goals faster. The fundamental purpose of the AUC Token is to provide a result-oriented, transparent and low fee structure, aligning the interest of human and robo advisors with savers’ goals and ensuring transparency. The multi-purpose token was designed to fuel the platform and create a balanced ecosystem.
Auctus Platform will be exclusively accessible through the AUC token. To create an account and start saving for retirement, users will need to hold a certain amount of tokens in escrow using the platform smart contracts.
Users with AUC in escrow can access the platform and use built-in tools and standard features. Inside the platform, users can get tailored recommendations (how much to invest and asset allocation) from human and robo advisors. In addition to being a platform currency, which enables efficient and frictionless transactions between participants, the AUC token will also be used to prevent users from paying in advance for bad services or advice.
The AUC held in escrow in exchange for a particular recommendation can be gradually released to be transferred to the human advisor or developer if the returns meet the predictions, as well as the fluctuations (volatility) do not exceed tolerated levels of risk. The parameters such as vesting period and tolerance will be auditable prior to the purchase of the service or tool. Users can redeem the tokens in case of bad advice.
"Auctus’ mission is to put the retirement saver back in control by offering access to optimized portfolios of bonds, stocks and cryptocurrencies. Enabling well informed decisions, by using blockchain to increase transparency and automation, and ultimately increase trust towards the chosen retirement plan. Auctus’ vision is to create a platform by the community, for the community and to be as decentralized a possible"
Positives -
- Retirement Planning Is in Desperate Need of an Overhaul. The Traditional Method Relies on Third Parties and Middlemen Who Take Their Cut Year after Year for Services That They May Provide on a One off Basis. By Using Blockchain Technology, Auctus Can Be That Middleman with Dramatically Low Fees in Comparison to Today's Standards.
- Auctus Puts Retirement Planning Back into the Peoples Hands. On an Immutable Ledger, Information Can Be Stored and Accessed Without the Need to Contact a Third Party. Changes Can Be Made by an Individual Rather than a Service Provider Who Will Charge a Fee to Shift Things Around.
Concerns -
- The General Concern We Have for Auctus Is for the Adoption of the Platform. Right Now People Are so Hard-wired to Use the Traditional Means of Retirement Planning. With the Current Standard, Individuals Sit down with a Real Person and Assess Risks and Opportunities. No Matter the Cost of This Model, People Do Prefer to Sit Face to Face with a Real Person When Considering Their Long Term Financial Health.