AurigamiPrice

(PLY)

Aurigami is currently in a maintenance phase. While the protocol remains functional on the Aurora network, it has seen a significant decrease in active development and social media updates from the core team. The smart contracts are still operational, allowing for decentralized lending and borrowing, but the lack of new feature rollouts suggests the project is in a low-activity state. Users should monitor official channels for any rare updates regarding the ecosystem's future.

PLY is the native utility token of Aurigami, used for governance and protocol interaction. PULP, on the other hand, acts as a "maturing voucher." When users earn rewards through the protocol, they receive PULP. This voucher cannot be used immediately for all utility functions; instead, it must undergo a maturation process before it can be redeemed for PLY tokens at a 1:1 ratio. This dual-token system was designed to encourage long-term alignment between the protocol and its users.

To convert PULP to PLY, you must use the "Rewards" tab within the Aurigami application. PULP tokens are subject to a specific maturation timeline. Once this period is complete, the tokens become eligible for redemption, and you can use the "Claim" button to receive PLY at a 1:1 ratio. While some decentralized exchanges on the Aurora network might allow for the direct sale of PULP, doing so usually results in receiving a lower value compared to waiting for the full maturation period.

Aurigami is a non-custodial protocol, meaning your assets are managed by smart contracts rather than a centralized entity. The protocol underwent audits by WatchPug to verify its technical security. However, users should be aware of the risks associated with low-activity protocols. While the non-custodial nature ensures you retain ownership of your collateral, the lack of active development and lower liquidity levels can introduce risks related to oracle accuracy and the ability to exit large positions quickly without significant slippage.

The 'Papermill' is a game-theory mechanic designed to reward patience by managing the maturation of PULP into PLY. 'Folding' refers to a recursive strategy where a user deposits collateral, borrows against it, and then redeposits the borrowed funds to leverage their position and increase potential reward yields. While folding can maximize returns, it also increases the risk of liquidation. If the value of the collateral drops significantly, the recursive nature of the position can lead to a rapid loss of assets.

PLY tokens can be traded on LBank and selected decentralized exchanges on the Aurora network. Because liquidity for the token can be thin, users may encounter "High Slippage" errors during trades. To successfully execute a transaction on a decentralized exchange, you may need to manually increase your slippage tolerance in the settings. For those seeking a more traditional trading experience with deeper liquidity, using a centralized platform like LBank is recommended to avoid the complexities of manual slippage adjustments.