What is Aurora (AURORA)? Get to Know the Platform and Coins Here!

Bittime - In the ever-evolving blockchain ecosystem, Aurora emerges as an innovative solution that allows Ethereum users and decentralized applications (dApps) to easily migrate to the NEAR blockchain.

With the increasing need for scalability and efficiency, Aurora offers technology that integrates the convenience of Ethereum with the speed and low costs of NEAR. This article will take an in-depth look at what Aurora is, the function of the AURORA coin, tokenomics, current price, and its future potential.

What is Aurora (AURORA)?

Aurora (AURORA) is a product that helps Ethereum users and dApps to move to the NEAR blockchain easily. This technology allows users to upload and interact with Solidity smart contracts on the NEAR blockchain as well as move assets (including ERC-20 tokens) between Ethereum, NEAR, and Aurora via Rainbow Bridge.

Aurora is designed to offer the best user experience by using ETH as the base token, so developers can use tools they are already familiar with.

What is AURORA Coin?

AURORA is a governance token that ensures proper protocol upgrades. Aurora is managed by AuroraDAO which consists of representatives from various ecosystems and blockchain industry sectors.

The AURORA token plays an important role in the Aurora ecosystem, ensuring that every change and improvement is made with the interests of the entire community in mind.

The AURORA token itself functions as a governance token that ensures that every protocol upgrade and change is carried out with the interests of the entire community in mind.

AURORA Tokenomics

AURORA's maximum supply is set at 1,000,000,000 (one billion) tokens. The AURORA Token Creation Event took place on November 18 2021. The following is the distribution and allocation of AURORA tokens:

- Unlocked Tokens:

- 1% of total supply is allocated for Initial DEX Offering (IDO), pool deployment on Automated Market Makers (AMMs), market making, and initial partnerships.

- 1% allocated to Aurora Labs as an incentive for project advisors.

- 48% is kept in AuroraDAO balance for future projects.

- 20% saved in community treasury.

- 3% is allocated to Aurora Labs and distributed linearly to Aurora validator delegators on NEAR.

- Locked Tokens:

- 16% as Aurora Labs long-term incentive (may also be subject to vesting scheme).

- 2% for initial Aurora contributors (may also be subject to a vesting scheme).

- 9% for Aurora Labs private round investors.

These locked tokens follow a 2 year unlocking scheme with a linear unlock every 3 months and a 6 month cliff starting from the token launch date (25% unlock after 6 months, then an additional 12.5% ​​every 9, 12, 15, 18, 21 , and 24 months).

Conclusion

Aurora (AURORA) offers a revolutionary solution for Ethereum users who want to take advantage of the speed and low fees of the NEAR blockchain without having to leave the comfort of the Ethereum ecosystem.

With superior features such as no transaction tax, burning liquidity, and unmodifiable smart contracts, Aurora brings high transparency and security to its users.