Categories: CoinsCryptoNews

Xaurum Starts Trading on C-Cex

After a successful Rebirth Initial Coin Offering (RICO) period that lasted for 12 days and gathered $851,342.36, Xaurum, the gold backed crypto asset has now been officially added as a trading pair on C-CEX.

Users are now able to buy Xaurum with Bitcoin and to swap XAU for XAUR at a 1 to 8000 exchange rate. Each Xaurum is currently worth around 0.00018 BTC.

During this RICO period

, the old Proof of Stake Blockchain (XAU) was abandoned and it was migrated to a tokenized smart contract system built on the Ethereum Virtual Machine (EVM). In this migration period, users were allowed to exchange 1 XAU for 8000 XAUR (a change that will save users mental fees when making small or micro-transactions).

The coinage feature was opened to anyone for a lower price, meaning that all users were allowed to send crypto and fiat currencies in exchange for Ethereum based Xaurum Tokens, which can be tracked here

Related Post
.

Following the RICO period, Xaurum was able to increase their gold holdings, which are managed by the Auresco Institute

and now stand at 32870.844 g. According to etherscan, there are now 82,455,625.350798 XAUR tokens in existence, meaning that each Xaurum token is backed by 0.000398648896 grams of gold.

This means that the old Xaurum (XAU) tokens have gone from being backed by 1 gram of gold from the start to being new XAUR tokens backed by 3.19 grams of gold per 8000.

By hosting a RICO period, Xaurum has accomplished a healthy expansion of, not only its gold reserves but also its community since everyone was allowed to participated by sending Bitcoin (BTC), Ethereum (ETH), Lisk (LSK), Xaurum (XAU), and even fiat currencies like USD, EUR and GBP and RUB.

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Eduardo Gómez

Eduardo Gómez is a Computer Science Major from Venezuela, a country with a loyal Bitcoin user base. He discovered Bitcoin in 2012 and now he use it to escape the triple-digit inflation that Venezuela suffers, he is focusing on developing a writing career, and he tries to keep up with the news in FinTech and Blockchain Technologies.

Share
Published by
Eduardo Gómez

Recent Posts

Cheems Surge On BSC Network: A Rising Star With Growing Market Value

The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…

8 hours ago

Lester Token Crashes 40% Following Official Announcement

The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…

8 hours ago

From $30K To Millions: The Wild Journey Of $Quant And Xiaohaige’s Memecoin Stunts

In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…

8 hours ago

Whale “convexcuck.eth” Makes Bold $CVX Move, Nets Significant Profit Amid Price Surge

The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…

8 hours ago

$ELIZA Token Launch Marred By Insider Trading Allegations

The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…

8 hours ago

Cardano’s Rally Highlights Diverging Moves Among Investors

Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…

9 hours ago