Asset-Referenced Tokens

ARTs minting process: In its pursuit to introduce tokens that can be classified as ART under a regulatory framework, the Auroca DAO shall deliberate on engaging with partners who can promote growth within its ecosystem by offering the necessary technology alongside other expertise. The technology shall rely on a smart-contract to facilitate the unification of a basket of smart-contracts, seamlessly integrating them to form a single, unified ART, consolidating the collective value of the smart-contract utilized.

1. Safeguarding ARTs in the ecosystem:

1. End-User deposit of USDC into the ‘Minting smart-contract’, initiating the transactional process.

2. Upon receipt of the user's USDC, the ‘Minting Smart-Contract’ shall execute an order to the ‘Vault smart-contract’ to procure the underlying tokens.

3. Subsequently, the ‘Vault smart-contract’ distributes the USDC deposited into the ‘Minting smart-contract’ to the corresponding tokens according to the respective allocation ratio.

4. Utilizing the acquired tokens, the ‘Minting smart-contract’ initiates a unified ART generation process through a minting process, ensuring accuracy and reliability.

5. Finally, the ‘Minting smart-contract’ seamlessly transfers the newly minted ARTto the End-user's designated wallet, concluding the transaction cycle with swift and secure delivery.

1. Vault smart-contract

The ‘Vault smart-contract’ in the ecosystem acts as the cornerstone of trust, safeguarding the underlying assets (tokens) supporting the ART.

The Auroca DAO shall deliberate on the composition of the underlying tokens backing the ART aiming to establish dependable backing for the assets (tokens). Managed through a blockchain-based smart contract, the ‘Vault smart-contract’ shall remain transparent and auditable at all times. The ‘Minting smart-contract’ shall consistently deposit a proportional amount of tokens to the ‘Vault smart-contract’, which subsequently shall acquire the underlying assets (tokens) based on the composition pre-determined by the Auroca DAO, thereby maintaining equilibrium between the token circulation and the collateral assets backing the token as the token’s supply expands.

1. Minting smart-contract

The ‘Minting smart-contract’ in the ecosystem is set to oversee the issuance and circulation of the ART. It will enable users to receive newly minted ART in exchange for their cryptocurrency. The smart-contract shall calculate the appropriate amount of ART to be minted based on the value of the assets in the Vault smart-contract and the existing number of ARTs in circulation. Additionally, it shall be designed to ensure that new tokens are not created unless there is sufficient collateral in the Vault smart-contract. Utilizing data from blockchain oracles, the Minting smart-contract shall evaluate the combined asset value in the Vault smart-contract, allowing token minting to proceed only as long as the assets' value surpasses the current circulating volume of the ART. Minting shall be halted once equilibrium is reached or proceed with burning process should the assets value decrease, thus reflecting the correct Vault smart-contract assets value in respect to the circulating volume of the ART.

1. Blockchain oracles

Blockchain oracles shall play an integral part in the ecosystem, sourcing real-time prices for the underlying assets (tokens) within the ‘Vault smart-contract’ from a variety of sources. These oracles shall facilitate a seamless interaction between isolated blockchain networks and off-chain data sources. This capability may be critical for developing hybrid smart-contracts that merge on-chain protocols with off-chain data, enabling decentralized applications to adapt to real-world events and integrate efficiently with traditional systems when required.