AURORA:DECENTRALIZED CRYPTOBANKING

The large number of banking platforms today make the world crypto increasingly bolted. Aurora is a collection of Ethereum applications and protocols that create a decentralized banking and financial platform and Aurora can provide a sophisticated, open, and stable financial network. This is certainly available to anyone because Aurora is a global platform. And for the Aurora currency, the boreal itself is a stable digital currency and is supported by a combination of crypto reserves available to platform users based on their digital economic reputation. And IDX traders using decentralized smart contract exchanges can take advantage of boreal as a payment of trading costs or as a more stable base currency.

What is AURORA?

Aurora is a collection of Ethereal applications and protocols that together create decentralization banking and financial platforms. Inspired by free banking, Aurora provides customers with advanced services, open, and stable is available to anyone in the world regardless of geographic location or Aurora’s own stable, boreal currency class status is supported by a combination of cryptocurrency reserves and debts, and is available to customers through loans based on your digital economy reputation.
Traders in IDEX, smart centralized network contract exchange, can take advantage of boreal as payment for trading costs or as a stable base currency.

Early Bank Implementation

Included in the Aurora MVP client is the initial iteration of Capital Decentralization. you can deposit ether and in return receive boreals at a rate of 1 USD per boreal, plus applicable fees. These boreals serve some goals early: pay a fee at IDEX with a 5% discount, as a stable value for trading
volatile assets of Ethereal, or as a store of value and hedge against a decrease in the price of cryptocurrency. you also can redeem boreals for ether directly from the Decentralized Capital interface.

Operating on a limited basis will allow Aurora to collect real data about the request in person manage stablecoin and learn how best to match supply with demand. At this early stage is expected that boreals will fluctuate within a certain price range; During this period Aurora will optimize the treatment
price stability on IDEX Decentralized Capital will analyze usage data such as number of boreals used for the payment of fees, the amount used as a stable value in trade, the amount held as long-term stable value, and overall speed to assess and understand demand. This information will inform when Decentralized Capital allows or disables deposits and withdrawals, in order to match the bids for request. Boreal’s total inventory will be limited and expanded conservatively with respect to demand. If the supply extends too far above the request, Decentralized Capital will utilize Ether reserve to buy boreals on the open market. Data are collected from these initial implementations will be used to guide the bank’s further development before adding the loan to the available list services.

IDEX Specs

IDEX provides real-time and high-throughput trading experience along with blockchain based execution and settlement, you can transact continuously without waiting for mine transaction, its contents several orders at once, and immediately cancel the order and without gas cost. IDEX consists of a centralized trading machine and a decentralized Ethereum smart contract. That the trading engine hosts the balance of the chain and the orderbook, the corresponding trade, and manages the queue The transaction is pending, while the Ethereum smart contract keeps all its assets and manages the execution of the trade and completion. By separating trade matches from unblocked settlements IDEX combines speed and centralized user experience with decentralized security and decentralized audit capabilities exchange.
The first iteration of the semi-decentralized IDE; the trading interface is run locally by the end user, temporarily Aurora Labs manages the servers responsible for matching and completing the trade. The current architecture is captured in the following graph:

Builders and takers deposit their tokens into IDEX contracts.
The IDEX database is updated to include customer addresses and token balances.
The author creates and submits a signed order that includes relevant trade data.
IDEX confirms that your account has sufficient funds and the signed transaction is appropriate what is delivered to IDEX
If all checks in part 4 pass, order is added to orderbook.
You ship the appropriate order, sign the transaction with the same price as the target order and amount less than or equal to it.
IDEX confirms that your account has sufficient funds and the signed transaction is appropriate what is delivered to IDEX
If all checks in Section 7 are passed, trades are marked as match and updated orderbook.
The IDEX database is updated to reflect new balances, and both traders can continue to create new ones trading based on this update. Simultaneously, the signed command is added to the queue to be broadcast to etereum network for processing
After all trading depends mined, transactions are sent to blockchain.
The transaction is mined and the contract balance renewed to reflect the trade.
After the transaction is mined, the maker and the taker may withdraw their funds.