Aurora is a decentralized financial platform with IDEX, a hybrid decentralized exchange, as its first product. Subsequent products will include margin lending on the hybrid exchange and a stablecoin to support the Cryptocurrency bank (called Decentralized Capital)
Our guest for this episode is Alex Wearn, CEO of Aurora DAO. He has previously worked with IBM and Adobe and is a graduate of Kellogg School of Management.
Tune in to hear about:
- Alex’s background, introduction and journey in crypto
- What is Aurora? (Decentralised financial institution)
- Problems with the current financial system that Aurora is trying to address
- Concept of free banking
- Bundling of stable coins: https://www.tokensets.com/
- 1st product of Aurora ecosystem – IDEX which is a hybrid centralised/decentralised exchange
- Decentralised aspect – custody and settlement
- Centralised aspect – dispatch of trades to the blockchain
- Liquidity providers / market makers on IDEX?
- Key challenges during setting up IDEX and how they were overcome – acquisition of users, operating on Ethereum network
- Fee structure on IDEX
- ETH gas prices – https://ethgasstation.info/
- Understanding Mempool (pending transactions) – https://99bitcoins.com/what-is-bitcoin-mempool/
- Margin lending on IDEX
- 2nd product of Aurora ecosystem – Cryptocurrency bank (Decentralised Capital)
- Stablecoin (Boreals) and how it’ll work
- AURA token – staking token of IDEX network
- IDXM token – membership token (3 years of free trades) to bring forth revenues for the company
- Daily trading volume – highest was about 20-25m, average is 3-7m
- Aurora’s roadmap
- Views on the Blockchain and Cryptocurrency ecosystem in general
- Website: https://auroradao.com/
- Twitter: https://twitter.com/Aurora_Dao
- Discord: http://bit.ly/AuroraDiscord