$AURA is the cryptographic token that powers the Aura browser and ecosystem. $AURA is issued as a native token on the Oasis Network and is EVM compatible with all ERC20-based tokens to maximize compatibility with existing wallet, exchange, and dApp infrastructure. This document is prepared to describe the usage of the token and the economics of its token sale.
Earn Points - Aura is a next-generation token-based browser solution that rewards individuals for everyday browsing. As they are browsing everyday content, ads are displayed on the websites they browse which are sold by the Aura platform and result in income to the platform. Thus, regular use by participants results in more views and revenue collection. To reward their usage, Aura awards Points based on the number of ads viewed through regular browsing and other online activity. The more pages a participant loads and views the more points they earn. There is no limit or cap to the number of points they can earn, although daily point rewards are capped. In order to earn from ads, users must first stake AURA tokens in our proof-of-engagement model. Ad earnings are based on a percentage fee of the tokens staked. This prevents abuse by bots and automated programs. Redemption for AURA – points can be converted to $AURA tokens on the platform through a one-click conversion; a stablecoin pool that is funded by platform earnings is used to perform a market buy of AURA tokens to fulfill all point redemptions on a regular basis. Any redemption request requires that AURA be locked for a minimum of 15-days in our staking pool. Users earn APY yields in this pool and have the option to alternatively select longer staking periods of 90, 180, 360, and 720 days with higher yields. These yields will be defined by the platform at a later date. A portion of the earned and accrued yield will be deducted to fund our net revenue-sharing program as described in a later section. Spending Points – alternatively, a user can choose to retain their points and use them within the Aura ecosystem to redeem items such as gift cards or other partner goods and services. Thus, participants earning on Aura are not required to be very familiar with token-based ecosystems and can still enjoy the benefit of using Aura’s browsing technology. Bonus Tiers – users who accumulate points will increase their point earning potential based on their respective tiers. These seven ‘Chakra’ tiers as we call them, are defined in this whitepaper.
Aura generates revenue primarily from three different activities.
Fees generated from transactions or revenue share from any dApps built within the Aura ecosystem provide an additional stream of revenue for the rewards system. As development progresses and more transaction points come online the revenue both generated and earned per user will increase proportionately.
Users within the Aura network can send and receive $AURA tokens to each other or to merchants and businesses to pay for goods and services. Since Aura runs on Oasis, these transfers happen instantly and with minimal fees. Aura charges 0.30% of each transaction (paid in $AURA) to transfer making it ideal for microtransactions. Users have the option of rounding up their transaction fee to the nearest $0.10 and contributing that portion to an ongoing charity fund.
Every user avatar is not only an NFT character but also exists completely within an NFT ecosystem where all items, accessories, and properties are minted, bought, and sold through various gamification aspects. A built-in NFT marketplace will accommodate seamless transactions between users while collecting a small fee from each sale that will be distributed to users as rewards.
Aura browser users can covert any screenshot within their browser into an NFT and encapsulate it, share it or even resell it. A small fee is charged in $AURA to Aura browser users for each NFT minted by the platform which is redistributed into the rewards system.
Grow Advertising has exclusive access to all ad placements within the Aura ecosystem and shares ad revenue with users. Revenue is transferred to stablecoin which is then used to buy $AURA tokens on a regular basis to distribute as rewards, guaranteeing constant buy pressure.
The browser can swap ads on websites with its own in-network ads, or alternatively work directly with ad providers or web properties for ad placement.
Adnet revenues are shared with token holders based on the net revenue-sharing feature explained in the section below.
Aura employs a token buyback program that is funded by a portion (55% currently) of the platform’s net revenues.
The token buyback program is designed to drive value to the $AURA token ecosystem through constant large volume token buys used to fulfill user rewards.
A percentage of platform profits is used to contribute to the DEX liquidity pool to increase the tradable liquidity and promote a healthy secondary market. Token holders will also be able to add liquidity through various LP Mining pools that heavily incentivize longer lock ups.
A portion of net revenues will be used to fund the Stablecoin Fund. This fund is used to handle point redemptions for points earned by users on the platform. A market buy for $AURA is performed utilizing funds from the stablecoin pool which is then transferred to the user’s platform wallet based on the value of the points redeemed.
Because tokens are traded in the open market, they can be manipulated. To safeguard price manipulation and sell-pressure, we provide two mechanisms:
- $AURA Staking Yields: Whenever the $AURA price is below a determined value, $AURA will increase staking yield in order to decrease the circulating supply.
- $AURA Reserve: Whenever the $AURA token is traded below a determined value $AURA will start buying tokens. The $AURA tokens are resold to the market when the price has increased to an acceptable level.
30% of tokens issued will be distributed within 3 years of TGE through various staking pools encouraging a reduced circulating supply and higher TVL during the browser build and launch phase. Post token sale, $AURA is expected to be available on decentralized exchanges, however, no new $AURA tokens will be created. New $AURA can be redeemed exclusively through token staking.
$AURA can be earned when participants stake their tokens or add liquidity to the Aura DEX liquidity pool. $AURA is paid into the staking pool and earned by stakers and LP miners based on their pro-rata share in the staking pool.
The staking reserve is a finite and exhaustible resource that is expected to incentivize early participants and reduce the circulating supply.
$AURA tokens holders will be able to propose and vote on community changes to the platform via a built-in DAO governance voting system.
Examples of decisions that may be candidates for proposals and votes include uses for tokens acquired in buybacks. token burns, and how to distribute funds held in the Aura Foundation for future features and dApp development.
$AURA shall only be made available for purchase through its token sale or on the secondary exchange market.
Aura will create 5,000,000,000 (5 billion) $AURA tokens at the token generation event as its total token supply. No other tokens will be created or minted. These tokens will be sold according to the following structure: