It’s been a while since Auxilium’s most recent update, but now that I’m here I’d like to keep everyone posted about the development status and the current plans we have for the pre-sale as well as the launch. In this article, I also want to clarify a few features and basically get everyone in shape in terms of the tokenomics and how auxilium is going to handle sell-pressure / emissions in order to stay sustainable for a long period of time. We obviously understand that some people are always skeptical and that is okay with us - we want you to understand the Auxilium system step by step and hopefully, you’ll like it and join us in our discord. We are always happy to welcome new investors in our chat.
Before we get started some Updates on our end:
Our Team has its very own discord server in which we handle everything that needs to be handled internally. The communication between all team members was very poor so we basically revamped the entire server and made it look all clean instead of just a hot mess. We definitely needed that as we welcomed a few new team members on our discord as well!
Give it up for: @ashapants aka Asha - who will be joining us as the main front-end developer! @MedicinalCrypto aka Pat - who will be our new Community Manager together with… @Lindi - who will defend the servers from bots, spammers, and other types of demons.
We are very sad to announce that our previous developer @nullwiz left the team due to personal reasons. We were very happy with the work Wiz put down and wish him the best of luck on his journey in crypto.
As you guys probably have noticed - the whitelisting spots for the Genesis NFTs are now available via Twitter. You can find the instructions under:
https://twitter.com/AuxiliumFund/status/1500148149511499783?s=20&t=nzyudg6mWXhPP3pfUg6j-g
Those who were already in our Telegram chat and filled out the form have already secured their spots. - The Team has set up a brand new payment team which will be leaked to you guys once the voting is over. We want to be transparent about our plans.
- The thoughts about going down the ICO/IDO route have been scratched and instead, a brand new pre-sale system will replace the way of raising funds for liquidity as well as marketing budget and team fund.
Auxilium Fund is the first crypto DeFi protocol that uses a newly invented “Compensation As A Service” short (CaaS) business model which aims to compensate specifically rug pull victims across all available blockchains.
Auxilium was founded by Ozan Aydin (@awesometrador) and the Co-Founder (@lordmoonbags) in early December 2021 after a conversation on why there isn’t any DeFi protocol that compensates rug pull victims who lost their funds in honeypots, scams, etc. The founder was curious and started to develop his own plans. First together with Moonbags and later on with a Team of 8!
To be fair the crypto/blockchain scene is gaining more and more attention day by day and maybe one day it will eventually replace the traditional banking system that we have currently. Regardless of my thoughts that are probably more of a future thingy, I feel like this scene is giving back a lot! Not only through charities, etc. but we are also giving back information that could be valuable to someone. So it’s not always the money we are talking about, but we have a gigantic community that is helping each other every day.
It might sound absurd, but the goal of Auxilium is not only to finally have a place that rug-pulled victims can run to but to offer safety and a second chance. What’s absurd? Well, the fact that we are basically handing out free money in the form of NFTs. What the requirements are? Well, you need to have your address in one of those rug-pulled contract snapshots we are going to process. How do we choose the rug-pulled crypto projects you say? Simple, Community!
Our work isn’t done by just saying: “Hey, just come here and basically claim your NFT”. We are aiming to become bigger, stronger, and better than any other DeFi project out there. But kudos to those who are already in the game. You set the bar quite high.
Well, no. Not really in the way that we are planning to and also not that we know of. We have familiarities with projects like OpenDAO ($SOS) or GasDAO ($GAS). While both of these projects compensated the users with tokens based on how much has either been spent on Opensea and/or the Ethereum Mainnet, we are aiming to compensate victims across chain (so basically not only on Avalanche) but also with NFTs instead of just tokens. Now that you get the idea of how this will eventually work I want to go deeper into the technical aspects of this project.
So first you have to understand that we separate the investors into three different categories.
Genesis NFT holder - soft-capped to 500 only mostly through Whitelisting
Investor - everyone can stake their $AUXL with us
Victims - verified through a snapshot on the malicious contract
The Genesis NFT holders are our “Early investors” who are basically one of the first ones to actually hear about us. We obviously appreciate everyone, but the Genesis NFT holders are our first “frens” in the space. You might be wondering: “What can I do with that NFT?”. That is a good question, and I’m here to explain it to you.
As you know the protocol is basically open to everyone. If you can’t claim and if you don’t own any NFT, then just go ahead and join the LP Pools or simply stake for rewards. With the Genesis NFT however, you are basically being “granted” a boost in APR% which gives you the ability to receive better rewards than victims as well as the normal investors who are new to this project. So you don’t really want to miss out on this!
The investors receive the basic protocol rewards as they are available to everyone. On the other hand, the victims who are verified through a snapshot can either sell their NFT or stake it for lower rewards than available to everyone. You wonder why? Well, you received free money in the form of an NFT and now you are able to stake it for low rewards - I mean at least someone is giving you something right? You should be excited though! I’ll explain in a bit why.
So we have the highest rewards for Genesis NFT holders, investors can stake for the non-genesis basic ROI and the victims have the lowest rewards.
*The rewards that are being given to victims and Genesis holders are only granted as long as you own them in your wallet!
Alright, Alright! So as I explained before you are basically staking for rewards - just like every other DeFi protocol out there. What makes us VERY unique is that we use the NFT Marketplace as an OTC exchange in order to make the investors profit.
Why? Well, you can’t only just use the NFTs to stake. You can also sell and buy them. Since we have a soft-cap on the Genesis NFTs you are probably wondering how you can achieve those juicy rewards after missing out on the whitelisting spots and that is quite simple, guys.
We’ve implemented a breeding function that allows everyone to breed a Genesis NFT whenever they want. The victim NFT supply is being burned in exchange. We don’t know yet, how many of those victim NFTs are required in order to upgrade, but if you buy those from the open NFT marketplace you are not only doing a good deed by buying those from someone who lost funds, but you are also giving yourself a treat since the Genesis NFT is going to help you receive bigger rewards.
What if the spent AVAX on the NFT marketplace is just going to extend my ROI instead of just being a useful tool in order to generate stable passive income? The floor isn’t controlled by Auxilium - just like we don’t control prices on OTC deals. The rug-pulled victims decide in this instance. The bad thing about this is that we need some time after the first 10k Gen0 are all sold out or should we say: “all claimed out” - jokes aside!
We are already working on new ideas, etc. for Gen1 and Gen2. So please be patient after every drop is “claimed-out”. Our artists need to have some time to come up with new ideas and develop the NFTs first.
The community will decide which rug-pulled contract will be included in the next drop. Everything the community votes on is being executed via on-chain governance. The team is just the developer of this protocol - however, this is still community-controlled and decentralized.
We have an Anti-Dumping System that only allows an X-amount of tokens to be sold over the course of 24 hours. You can’t just stake and then leave within a day so “Treasury sniping” isn’t going to work for - I’m sorry! That’s why we are proud to announce the paper-hand penalties resulting in a 3% strike if you sell within 2 days.
Our protocol is secured through a Gnosis multi-signature wallet and includes all team members for now. We will extend it to our beloved community from time to time. We will be working hard on offering Flash Loan and Exploit Protections!
Glad you asked - Auxilium has already laid out a plan for 2022. I’ll be happy to share it with you:
Q2 and Q3 will be all about launch, token listings, KYCs, Audits, Marketing, Investments, Airdrops, and things such as the introduction of a bug bounty program in order to achieve maximum security. We will be working hard to expand our plans and develop our own NFT Marketplace and DEX. One of the main priorities, however, is to develop a rug pull protection insurance protocol for all of the tokens and NFT holders. One big goal is to go multi-chain as well and discover the options of having our own Avalanche Subnet.
We’ve been in touch with Assure DeFi, Cryptonairz, and RugDoc in order to verify our identities. Everyone in our team is doxxed, besides the Community Manager. We understand how important it is to feel right about a certain project and to have at least something in your hands when you want to invest.
The founder, Ozan, is not only doxxed but can also verify his identity through an entity in Europe and will also hire everyone in his team through a freelancer contract. So basically, you have a project that is being developed by a team of front-end and back-end developers with its headquarter in Europe. Please note that we just develop this project - everything you invest in is not owned by the company nor any individual that is working for the Auxilium developer team. All decisions are being made by the community and therefore this protocol is decentralized with no ownership. Everyone can participate in this as the code will be open source!
We have no Audit partner yet, but we asked Quantstamp to go through it - unfortunately, no answer yet. We will keep asking around so we have verified contracts by a third-party auditor.
The Community is fun - we are already engaging with a bunch of you on Discord already. We are organizing trading events as well as just gaming sessions so we can get to know those who invested in Auxilium. It’ll be fun!
In order to raise awareness of the importance of donations and more, the Auxilium team has decided to offer the community an event once a month in which the investors can select which NGO should be donated to. The donation will be sent through our Marketing Budget Fund and Team Fund Allocation Wallet. We are here to help and to make this world a better place for us all.
The first 100 joiners on Discord, as well as the 20 biggest wallets of our protocol, will be a part of our monthly shareholder meetings. The goal is to show appreciation, present new ideas, get feedback, and engage with the community. This way we want to have a different approach to “whales” in the crypto space. The same thing goes to any VC’s that are looking to potentially join in any “Seed Rounds”.
When we can expect the launch? We don’t know as we are still very busy with the development, however, I want to arrange an AMA on Twitter on March 20th. Please feel free to join as this will be the deadline for the ongoing Whitelisting event.
I am very proud of how far we’ve come and I’m excited to engage with everyone! Not only on Twitter but also on Discord and Telegram. I am very active on the presented platforms so feel free to hang out with us.
The Auxilium Team enters a new stage and we are glad to have you onboard.
Best of luck to everybody and thanks for reading.
See you next time, Ozan & Team