UPCOMING ICO: AUCTUS JOINS EEA, PREPARES TO LAUNCH ICO

Auctus, a company that wants to, in its own words, 'put the retirement saver back in control', will launch its ICO on March 27. The token sale will commence until March 31 and the fundraising goal is $2 million USD. Auctus this week announced its admittance into the Enterprise Ethereum Alliance (EEA). It also joined the Mutichain Asset Managers Association (MAMA) in January.

UPCOMING ICO: AUCTUS JOINS EEA, PREPARES TO LAUNCH ICO

ICO details

Auctus ICO details

As you can see, the public will contribute the majority stake, which is always a good sign with ICOs. The token sale will last until March 31 unless the hard cap is reached before then and Auctus hopes to raise about 2000 ETH.

What is the Enterprise Ethereum Alliance (EEA)?

The EEA is an industry-supported nonprofit. It was established to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open-source reference architectures. It's impressive membership speaks for itself. See below for launch membership per EEA's website:

EEA launch members

According to its website: "The Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts.

"Together, we will learn from and build upon the only smart contract supporting blockchain currently running in real-world production – Ethereum – to define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business."

In short, the EEA holds members to a higher standard of software execution and performance. So, if an Ethereum-based company is a member of the EEA, you'll know you can trust them. At least, more than you could a non-member. The alliance also allows for the sharing of resources and intellectual property.

Ludmila Lupes, systems engineer and CMO at Auctus, said: “We are very excited to be a part of the Enterprise Ethereum Alliance. We aim to leverage the EEA network to build more value for our community and improve existing products, services and token offerings. After joining MAMA, this is a further milestone for Auctus in pursuit of industry best practice.”

What is Auctus?

The Auctus Platform is a global smart contract-based retirement and goal-based saving platform. It includes specialized portfolio management services for traditional equity and bond investments, as well as cryptocurrency investments.

The platform provides the user with an aggregated view of all retirement savings. This includes government regulated IRA/401k plans, voluntary traditional retirement plans, and crypto wallets. Auctus’ mission is to put retirement savers back in control of their retirement plan. They provide the info needed to make well informed decisions while using blockchain technology to increase transparency and automation.

Auctus offers robo-advisory, transparency, automation and record keeping. It also serves as a marketplace, allowing the retirement community to come together without middlemen.

Auctus How it works

How does it work?

All users will have to hold a certain amount of AUC token in escrow (locked in smart contracts) to access the platform. Every transaction on the marketplace will have to be made via AUC token, i.e., payments for apps and payments for services. Additionally, there'll be incentives for good behavior, ensured by smart contracts. The payments of apps can be linked to the results.

What Auctus says:

Auctus tokens how they work

For more info, please refer to Auctus' whitepaper.

TL;DR?

  • Built-in robo advisor and analytic tools
  • Community-driven marketplace for services and apps
  • Allows for a mix of traditional / crypto investments
  • Ensures information and fee transparency
  • Automates processes
  • Goal-based fees embedded in smart contracts

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