Auric dApp

Auric is a sample dApp leveraging blockchain technology. Its main currency is an ERC20 token named "Auric", which supposedly represents ownership of an actual quantity in gold bars.

The process of purchasing and redeeming Auric tokens is handled by the AuricSeller smart contract.

Purchase Auric tokens

By connecting your Ethereum wallet app, you can purchase Auric for ETH. The notion is that by purchasing Auric, you invest in gold, without the need to actually have it in your possession or even stored in a remote vault.

Claim Gold Bars

If you want the actual gold bars delivered to you, you can "claim" them. It is a 3-step process:

- Step 1 is where you authorize the AuricSeller smart contract to handle your Auric tokens on your behalf.

- Step 2 is where you return the tokens to the issuer.

- Step 3 is where you receive a QR code representing the transaction. The QR code (along with proof of your crypto account ownership, e.g. a signed message) can be used to claim the gold bars (the verification act is outside the scope of this dApp).

The AuricSeller smart contract also includes a function for the owner to claim the ETH that was used to purchase gold (the owner's claim ETH function is not featured on this dApp). By claiming, 5% of profits is automatically donated to a predefined address (e.g. a charity).