Letter from our CEO // must read
This is a letter from the CEO and co-founder of Auxilium Global. The letter contains information on which the whole team is informed, and which the team supports. This letter is a reaction to the past and current situation of Auxilium Global and more specific Auxilium (AUX) cryptocurrency. If you’re a holder of AUX and/or interested in investing into AUX it’s important to read the whole letter; from beginning till end.
Dear, respected, Auxilium community,
Some of you have been with the Auxilium cryptocurrency project from early on; and even have gotten to know me from the days I was active to create change for the abandoned Sprouts cryptocurrency community. We’re nearly 4 years further now and I have made an impactful decision as the Co-founder and CEO of the Auxilium cryptocurrency project and Auxilium Global cryptocurrency company. Before I jump to the conclusion I would like to take you through the journey of Auxilium; and the role I played in this.
Ever since I was a teenager I had the dream to become a millionaire. From an early age I found myself to be entrepreneurial, which led me to start multiple small business opportunities for myself. Later I started my own business as a university student that became my core line of income for over 10 years.
I’ve always thought that in a lifetime a person has one or two life changing investment opportunities. Cryptocurrency is one of them. Without doing a lot of research (I had heard from it around 2015 for the first time) I jumped into crypto in 2017 and bought some cheap coins. These SPRTS cryptocurrency coins had a very high PoS interest rate; but hardly any solid structure built around it. I started to ask around on Bitcointalk if there were people who wanted to make something of this abandoned project. I saw many opportunities for improvement, and so did others.
We started out on a chat-app called Slack with about 50 enthusiastic people. But like many things in life: the attention span of most people (without receiving immediate results) is short. Nevertheless, a few stayed on to try and revive the Sprouts project that had been abandoned for the second time in its history. After a few months we and the majority of the community decided that it was best to start a new blockchain with Ethereum features such as smart contracts. We partnered with Applicature blockchain agency who — just like us — volunteered to work on the project as many hours as possible.
Molding the idea into a product
We built the Auxilium blockchain with a unique Auxilium Proof of Authority consensus, and added the Auxilium Interest Distribution platform that has distributed interest without the necessity of mining or staking. The Auxilium blockchain has become one of the most secure, scalable and environmentally friendly blockchains in the space. Something to be very proud of. Especially if you add that one of our core focusses is to use the power of blockchain to do good in the world. To give back to those in need. A philanthropic view behind a money driven system.
A part of the Sprouts community swapped their SPRTS coins to AUX coins during a swap in June 2018 through the Auxilium swap platform that we built. And stored their AUX in our own first Auxilium wallet (in 2019 we developed a new desktop wallet, packed with functionality, and this year published our mobile wallet which has over a thousand downloads and a 5 star review on Google Play).
In August 2018 we listed Auxilium on Mercatox exchange; at that moment one of the better exchange options for the money we could afford after not conducting an ICO.
We created an academic whitepaper and later on we even got Auxilium Global listed as an official cryptocurrency company under EU-law which has protected not only the team but also all investors of the project.
We’ve never asked the community for any financial contributions for our work and have always remained volunteers for the project. Unfortunately for us this was during a full bear market which didn’t make things less difficult. The small team has always paid all costs to run and update the network, increase security measures, legal fees, marketing promotions, hosting costs, etc. We’re talking — in some cases — about 5 figure amounts in US dollars per person. Money that could’ve gone towards well deserved holidays, a car, or just simply paying the bills.
After a while we parted with Applicature blockchain agency and continued with a small core team that has been working and/or following Auxilium from the beginning. Also I would like to mention the senior community members that have been very helpful with community support; a true inspiration for others.
From a community building perspective we’ve gained a lot since the launch of our blockchain in 2018; as shown by the social media followers (e.g. 18K+ on Twitter) and actual unique members (16K+) on the forum and within the Telegram channel.
All of the above sounds positive. Why not get the AUX coin, with its great blockchain, listed on a tier one exchange? Well that has been the key struggle for the past years. In short: cryptocurrency exchanges list projects based on 1) quality, but 2) certainly not without a financial stimulus. That’s our conclusion after I contacted about 70 exchanges. This financial stimulus, the listing fee, remained way out of reach as the starting price for a serious exchange was 100,000 US Dollars. We had contact with several tier one cryptocurrency exchanges which were willing to list us. Some I can’t mention here because of a NDA, others were Bithumb, (listing partners of) Bittrex, OKEx and Changelly.
Through a community fundraiser (http://auxilium.global/community-fundraiser/) we tried to come up with the funds to get listed on Bittrex. With a community of 16,000+ registered members we thought it would be easy to create a large enough Auxilium Investment Fund to be able to leverage the bull market and come up with the listing fee of 300,000 US Dollars (including other fees) for Bittrex. A few community members participated generously, but the mass majority stayed passive. At the time that we started Bitcoin (BTC) was worth approximately 10,000 USD; in March the price of BTC peaked at about 60,000 USD and will probably gain in value this summer from current price levels of about 45,000 USD as the bull market is far from over yet. With enough funds from the community in our diversified portfolio we could already be very close to the Bittrex listing. But we’re not; far off in fact.
The past 9 months have been slow for Auxilium. We published many great ideas, but got stuck due to lack of availability of the developer side of the team. The pandemic, personal problems, job uncertainty, health problems, etc. played a role in this. Very unfortunate circumstances that often led to a halt in development.
I still see Auxilium as an amazing project with the potential to at least reach 1 USD when the time is right. However, I’ve made a decision to set a strict evaluation deadline, on the 1st of January 2022, to conclude if the project is moving the way I would like to see and if continuation is realistic. It’s not that I want to quit and/or that I’m not dedicated enough, or not involved enough. If anything I’ve been too involved and dedicated. Illustrative would be my burn-out late 2018, which I’m fortunately recovered from. This experience has certainly changed my perception on life, and also led to me thinking more seriously about the realistic future of Auxilium Global and the role I want to play in this. Simply put I’ve learned: without serious investments no project is going to make it in this crypto space; no matter how good the fundamentals are.
The following reasons made me decide to set a date for a serious rethink on continuation of the Auxilium project on the 1st of January 2022: 1) Pouring personal funds into a project to keep it alive without the realistic prospects of (big) investors hopping on board to support necessary growth (i.e. especially proper liquidity to utilise AUX R&D funds), 2) Too little clarity of availability team, 3) not being able to convert my involvement and availability into finished projects due to lack of developer availability leading to weekly frustrations, 4) opening myself up to other (business) opportunities in life that deliver positive energy, and 5) far too little community involvement/strength when it comes to “putting your money where your mouth is”.
But I’m not giving up just yet!
What can we still do in 2021?
- Fix Mercatox exchange;
- PancakeSwap listing (ideal would be IFO — initial farming offering);
- Listing one other exchange (we’re in talks with LAToken about listing a competition);
- AUXL token creation and distribution;
- More cross-team availability of code and scripts on Github;
- Swap platform AUX <> WAUX;
- WAUX airdrop and distribution;
- Email server, and SSL upgrades.
What do I want to see on 1st January 2022?
- Funding to pay the core team to work part-time on Auxilium for at least 1 year;
- Funding for infrastructure for at least 1 year;
- Funding for a top tier cryptocurrency exchange listing for AUX coin.
Possible sources of funding:
- IEO on LAToken (delisting on Mercatox possibly required);
- IFO for WAUX on PancakeSwap (unsure if this is possible);
- Fundraiser;
- Selling on an exchange through proper liquidity.
There is still a window of opportunity. Hopefully this will result in me being able to say “yes” to a continuation based on reaching set targets on or before the 1st of January 2022.
I want to seriously thank those who have trust in the project, and also have specifically mentioned me as the person they believe in. For me it was a very exciting and educational experience; one that I would not have wanted to miss out on. We just have to keep in mind that you only live once and that the world is full of new and exciting opportunities. It’s your task to pick those opportunities that fit your personality and lifestyle the best, that give you energy and make you happier on a daily basis.
I wish everybody the very best. Hopefully things are looking brighter on the 1st of January 2022. Anyways I’m sure I’ll see you around, because I’m not leaving this crypto space as blockchain is the future.
Let’s give AUX a good push towards the end of 2021!
Kind regards,
MSc. Anton S. Donker
Co-founder and CEO
Auxilium Global
