What is AuroraToken?
Aurora is a platform that provides a seamless transition for Ethereum users and dApps to migrate to the NEAR blockchain. It offers two distinct functionalities: the ability to upload and interact with Solidity smart contracts on NEAR blockchain, and the capacity to transfer assets, including ERC-20 tokens, between Ethereum, NEAR, and Aurora through the Rainbow Bridge.
The base token of Aurora is ETH, providing developers with a familiar tooling and enhancing the user experience. Additionally, the AuroraDAO governs the platform, ensuring proper upgrades to the protocol. AuroraDAO is composed of representatives from various ecosystems and sectors of the blockchain industry.
AURORA Token Supply and Allocation
The total supply of AURORA tokens is fixed at 1 billion ($AURORA). The AURORA Token Generation Event took place on November 18, 2021.
- 1% of the total supply is allocated for IDO, deployment of pools on AMMs, market making, and early partnerships.
- 1% is allocated to Aurora Labs to incentivize project advisors.
- 48% is reserved on AuroraDAO balance for future projects.
- 20% is kept in the community treasury.
- 3% is allocated to Aurora Labs to distribute linearly and evenly to the delegators of Aurora validator on NEAR.
- 16% Aurora Labs long-term incentives (may also be subject to a vesting scheme).
- 2% to early Aurora contributors (may also be subject to a vesting scheme).
- 9% Aurora Labs private round investors.
The locked tokens are subjected to the unlocking scheme: a two-year unlocking period with a linear unlock every three months and a six-month cliff starting from the token launch date. After six months, 25% of the tokens are unlocked, with an additional 12.5% unlocked after nine, twelve, fifteen, eighteen, twenty-one, and twenty-four months.
The Aurora Labs team comprises highly experienced professionals in the blockchain industry:
- Dr. Alex Shevchenko, CEO of Aurora Labs, is a Ph.D. in physics and mathematics, an entrepreneur, a blockchain enthusiast since 2015, and the developer of Bitfury's Exonum. He is a strong believer in blockchain scalability solutions.
- Arto Bendiken, CTO of Aurora Labs, is an autodidact, cypherpunk, entrepreneur, and prolific open-source author with over 20 years of professional software engineering experience. He has worked with organizations such as the European Space Agency (ESA) and the U.S. Navy's Space and Naval Warfare Systems Command (SPAWAR).
- Frank Braun, Head of Security & Infrastructure at Aurora Labs, holds a Ph.D. in computer science and has over 20 years of experience in building complex software systems. He has worked on scientific software, encrypted messaging systems, and digital currencies.
- Joshua J. Bouw, Engine Team Lead at Aurora Labs, has over 10 years of experience in crypto-economic design, software development, and open-source ecosystem creation. He is known as 'The Godfather of Proof of Stake' for his early role in the development of Proof of Stake Consensus Mechanisms.
- Kirill Abramov, Bridge Team Lead at Aurora Labs, is a software engineer with over 6 years of experience in developing high-performance software. He is passionate about the Blockchain space and has rich experience in developing custom blockchains, implementing apps for HW, and building cross-chain solutions.
In summary, Aurora is a platform that provides a bridge between the Ethereum and NEAR blockchains, enabling users and dApps to migrate seamlessly. With a fixed supply of 1 billion AURORA tokens, the platform is governed by AuroraDAO, which ensures proper upgrades to the protocol. The AURORA token serves as the platform's governance token, with various allocations for IDO, early partnerships, project advisors, and community treasury. The team behind Aurora Labs comprises individuals with extensive experience in blockchain, software engineering, and cryptography, including CEO Dr. Alex Shevchenko, CTO Arto Bendiken, Head of Security & Infrastructure Frank Braun, Engine Team Lead Joshua J. Bouw, and Bridge Team Lead Kirill Abramov. Overall, Aurora provides a reliable and efficient solution for developers and users who seek to move seamlessly between the Ethereum and NEAR blockchains, ensuring a better user experience and improved tooling.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free