Productive gold infrastructure

Provide liquidity.
Hedge the gold.
Keep the yield.

Aureus provides market-neutral liquidity infrastructure for PAXGy.

Earn exposure to gold-lending yield and trading fees while Aureus dynamically hedges the directional gold exposure of the liquidity position.

Read Docs How it works

Dynamic gold hedging targets reduced directional exposure. It does not remove market, funding, liquidity or protocol risk.

Strategy overviewTarget exposure
01PAXGyYield-bearing goldYield
02PAXGy / USDGMarket liquidityFees
03Gold Delta EngineMeasure · hedge · rebalanceDynamic

HEDGE ENGINEContinuously recalculated

PAXGy Yield-bearing goldPAXG Physical gold onchainAureus Dynamic liquidity + hedge engine

The liquidity problem

Productive gold needs
productive liquidity.

PAXGy generates yield from institutional gold lending. But providing liquidity to a PAXGy / USDG market also means carrying changing gold-price exposure as the pool inventory shifts.

Without an active hedge

PAXGy / USDG LP

Trading feesPAXGy yieldGold exposureInventory risk
Aureus strategy

LP position + dynamic gold hedge

Reduced directional exposureYield + fees remainMarket-neutral target

Strategy mechanics

Liquidity in.
Measured hedges out.

Aureus tracks the changing gold delta inside the liquidity position and adjusts a short gold or PAXG derivative hedge toward a market-neutral target.

  1. 01

    Deposit

    Supply capital to an Aureus PAXGy liquidity vault.

  2. 02

    Provide liquidity

    Aureus allocates capital to a market such as PAXGy / USDG.

  3. 03

    Measure gold delta

    Track LP inventory, the PAXGy/PAXG exchange rate, gold price and pool state.

  4. 04

    Hedge dynamically

    Open and rebalance a short gold or PAXG derivative position to reduce directional exposure.

  1. Capital
  2. Aureus vault
  3. PAXGy / USDG LP
  4. Gold delta engine
  5. Dynamic hedge
  6. Market-neutral target

How liquidity and hedging fit together

Return composition

Real yield.
Multiple sources.

Strategy performance depends on several moving parts. Funding can add to returns or become a cost, and hedging and execution reduce gross returns.

01

PAXGy yield

The PAXGy allocation continues to accrue gold-lending yield, subject to the asset and its counterparties.

02

Trading fees

The liquidity position may earn fees from activity in the PAXGy market.

03

Perpetual funding

The hedge may receive funding, or pay it when market conditions change.

Net vault return
PAXGy yield+LP fees±Perp funding−Hedge costs−Execution costs−Protocol fee= net return

Illustrative framework. No return is guaranteed; realized results may be negative.

Return sources and costs, in the docs

Gold delta engine

The hedge grows
with the gold.

PAXGy is non-rebasing: its token balance can stay constant while the PAXG entitlement per token increases. Aureus reads that entitlement into the LP's gold exposure and updates the hedge target.

Exchange rates below are illustrative examples, not current market data.

How gold delta is measured

Illustrative · Initial50 PAXGy × 1.150057.50 oz
= gold exposure
Illustrative · Later50 PAXGy × 1.170058.50 oz
Detected unhedged delta+1.00 oz
Gold short57.50 oz → 58.50 oz
Net gold delta≈ 0 oz target

A target is subject to execution delay, costs, slippage, and residual LP / gamma risk.

Simulated market environment

See the hedge react.

Change a market condition and watch the demo strategy update its gold delta and hedge target. These controls show simulated behavior only.

Scenario controlsDEMO · SIMULATED

Select a scenario to simulate a strategy response.

Aureus vault

Market-neutral liquidity

HEDGED · DEMO
Capital Illustrative$100,000
PAXGy exposure Demo+11.50 oz
Gold hedge Demo−11.50 oz
Net gold delta Target0.00 oz
Funding / net yield impactMonitoring · Demo
Hedge stateHEDGED

SIMULATED MARKET ENVIRONMENT · Illustrative values only. No orders are placed.

What the simulation does and does not show

Why liquidity matters

Liquidity is infrastructure.

Yield-bearing assets become more useful across DeFi when people can buy, sell, rebalance and use them in other protocols. Aureus is building around that market need.

Sustainable PAXGy liquidity can support tighter markets and more efficient use across the gold ecosystem.

  1. Aureus liquidity
  2. More PAXGy liquidity
  3. Potentially lower slippage
  4. Better composability
Strategy architectureCONCEPT · TESTNET
User capital ↓Aureus vault

Liquidity adapter

PAXGy / USDG AMM

Gold accounting

PAXGy balance · exchange rate · LP inventory · delta

Hedge engine

PAXG / gold derivative market

Risk engine

Funding limits · rebalance thresholds · deviation caps · emergency unwind

Risk disclosure

Market-neutral does
not mean risk-free.

Dynamic hedging can reduce intentional directional gold exposure. It cannot remove the risks embedded in liquidity provision, leverage, counterparties or smart contracts.

01

LP / gamma risk

Dynamic hedging cannot completely eliminate AMM inventory effects.

02

Funding risk

Short funding can become expensive and reduce or outweigh strategy income.

03

PAXGy risk

Underlying gold-lending credit and counterparty risk remain.

04

Liquidity risk

Markets may not support efficient hedging, rebalancing or unwinding.

05

Execution risk

Slippage, fees, latency and hedge execution costs affect outcomes.

06

Smart contract risk

Aureus and integrated protocols add technical and operational risk.

Read the full risk overview

Why now

Gold just became productive.

Tokenized gold has traditionally been a passive asset. PAXGy introduces yield-bearing gold whose entitlement grows directly in gold terms. Productive assets need productive markets, and that surrounding infrastructure is only beginning to form.

PAXGSPOT GOLD
↓
PAXGyPRODUCTIVE GOLD
↓
AureusLIQUIDITY INFRASTRUCTURE

Roadmap

Building with discipline.

Only Phase 1 is in development today. Later phases are plans: their scope, order and timing depend on technical validation, regulation and market readiness.

  1. Phase 01 In development

    Testnet

    The full strategy loop running end to end with test assets and simulated markets.

    • PAXGy-compatible mock
    • Simulated PAXGy / USDG pool
    • Gold Delta Engine
    • Dynamic hedge simulation
    • Vault accounting
    • Live dashboard
  2. Phase 02 Planned

    Mainnet vault

    The first live Aureus vault, with real PAXGy, a live liquidity venue and executed hedges.

    • Real PAXGy integration
    • Live liquidity venue
    • Hedge execution
    • Risk controls
    • Automated rebalancing
    • Security review
  3. Phase 03 Planned

    Fiat access

    Deposit from, and withdraw to, a bank account in euros or dollars, without managing a crypto wallet first.

    Through third-party regulated providers, where permitted. Identity checks and regional restrictions will apply.

    1. EUR / USD
    2. Regulated on-ramp
    3. Stablecoin
    4. Aureus vault
  4. Phase 04 Planned

    Multi-market

    More venues and gold markets, with execution and hedges routed across them.

    • Multiple liquidity venues
    • Best execution
    • Hedge routing
    • Strategy optimization
    • More chains and gold markets
  5. Phase 05 Research

    Protocol token

    A potential token to govern risk parameters and align long-term liquidity providers with the protocol.

    No Aureus token exists today. Any future token depends on legal review and on where it can lawfully be offered.

    • Risk-parameter governance
    • New vault approvals
    • Liquidity incentives

Roadmap items are plans, not confirmed integrations, partnerships or guarantees of delivery. Nothing here is an offer or solicitation.

Read the full roadmap

Aureus · Productive gold infrastructure

Productive gold needs
productive markets.

Aureus provides liquidity while dynamically managing gold exposure.

Read Docs Built for the emerging yield-bearing gold economy.