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      1. Home
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      4. On XRPL
      5. Utility Tokens
      6. $AAU Ascension Aurum

      $AAU Ascension Aurum

      $AAU Ascension Aurum

      $AAU Ascension Aurum

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      Pegged to Gold 1 AAU Token is equivalent to 1 Ounce of Gold.
      The AAU Token represents the Riley Economic System approach to integrating the intrinsic value of gold into the digital
      token ecosystem. AAU, which stands for Ascension Aurum, leverages the periodic table initials for gold (Au) and aims to
      bridge the traditional store of value with modern financial technologies.
      Tokenomics: Pegged to Gold 1 AAU Token is equivalent to 1 Ounce of Gold.
      Funding & Maintenance: To initiate and sustain the AAU token, financial support will be drawn from Ascension Sales and
      voting mechanism.
      Fee Structure: Within the Ascension ecosystem, any AAU votes will incur a 10% maker’s fee.
      Example: If an Ascension event has available funds of $10,000 and the AAU Token secures 20% of the vote, $2,000 will be
      designated for the AAU Token. From this, $200 (10%) will be earmarked for operations such as maintenance, warehousing,
      auditing, and ensuring security for the physical gold backing. The remaining $1,800 will be allocated to procure physical
      Gold Bullion.
      Minting Process
      Post acquisition of the physical Gold Bullion and its safe storage in our facility, it undergoes a precise weighing process.
      Ascension then mints AAU tokens equivalent to the weight (in ounces) of the acquired gold. Subsequently, these tokens will
      be proportionally distributed to ASC Token Holders based on their AAU votes delegated during the previous Ascent.
      Claiming Physical Gold: To bridge the digital and physical realms, an affiliated Ascension storefront will be operational.

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      • Link Texthttps://www.ascensionindex.com/bullion/
      • whitepaperhttps://www.ascensionindex.com/wp-content/uploads/2024/01/Ascension-AAU-WP-v1.pdf
      • trustlinehttps://xrpl.services/?issuer=rGho1zZBxtiiyQgMfReAju9Sc2MMtvtAAU¤cy=AAU&limit=100000
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