What is an AUT (Asset Unique Token)? And how can you own one?

What is an Asset Unique Token (AUT)?

Asset Unique Tokens (AUT) are collateral tokens and a type of digital asset based on the ERC 271 token standard. This standard is a set of rules and guidelines for creating non-fungible tokens (NFTs) on the Ethereum blockchain. NFTs are unique and cannot be exchanged for other tokens on a one-to-one basis, unlike fungible tokens like cryptocurrencies. The ERC 271 standard provides a framework for developers to create NFTs with a standardized set of functions and features, ensuring that they can be easily integrated into various applications and platforms. By being built on this standard, AUT Tokens benefit from the security and interoperability of the Ethereum blockchain and can be used in a wide range of use cases, such as digital bonds, stocks, collateral, RWA, and more.

OpenEXA's AUT Market is modeled after the traditional over-the-counter market for fixed income instruments. In this market, KYC-ed customers can trade among themselves, which helps to mitigate rogue counterparty risk. This approach allows customers to transact with trusted counterparties in a secure and efficient manner. By using OpenEXA's AUT Market, customers can access a reliable and transparent marketplace for trading AUT collateral tokens, which provides greater flexibility and liquidity compared to traditional fixed income markets.

Asset Unique Tokens, could refer to a type of token that represents ownership or fractional ownership of unique assets. These assets could include unique financial assets such as AA/AAA bonds. The tokens serve as digital representations of the underlying assets and are typically issued on a blockchain platform.

To buy AUT's, the specific process will depend on the platform. Here are some general steps that may be involved:

1. Determine the Token Sale Process: The project may conduct a token sale or initial offering to distribute the Asset Unique Tokens. This can involve different methods, such as public sales, private sales, or participation through specific platforms. Look for information on how and when the token sale will take place.
2. Complete KYC (Know Your Customer) Requirements: Depending on the project's jurisdiction and compliance regulations, you may need to complete a KYC process. This typically involves providing identification documents to verify your identity and eligibility to participate in the token sale.
3. Acquire Cryptocurrency: To buy Asset Unique Tokens, you will likely need to have the necessary cryptocurrency accepted by the project. Commonly accepted cryptocurrencies include Bitcoin (BTC) and Ethereum (ETH). Acquire the required cryptocurrency through reputable exchanges or platforms.
4. Participate in the Token Sale: Follow the instructions provided by the project to participate in the token sale. This can involve sending the required amount of cryptocurrency to a specified wallet address and following any additional steps or requirements outlined by the project.
5. Secure and Manage Your Tokens: Once the token sale is completed, you should receive the Asset Unique Tokens in your wallet. Ensure that you have a secure wallet capable of storing the specific token type. Follow best practices for wallet security, such as using hardware wallets or secure software wallets, and keep your private keys or recovery phrases safe.

It's important to note that the process of buying Asset Unique Tokens can vary significantly depending on the project and platform. It's essential to conduct thorough research, verify the legitimacy of the project, and exercise caution when participating in token sales or purchasing new tokens.

As the concept of Asset Unique Tokens evolves and new projects emerge, it is advisable to stay updated with the latest information and seek guidance from reliable sources or platforms associated with the specific tokens you are interested in purchasing.

Asset Unique Tokens (AUT) are collateral tokens and a type of digital asset based on the ERC 271 token standard.