Aurora launches $90 million developer fund to boost DeFi on NEAR Protocol By vishal4c
Near’s EVM layer, Aurora, unveiled a token fund with the objective of financing new DeFi-based applications.Aurora, a blockchain layer on the NEAR Protocol, has launched a $90 million token fund to accelerate the development of decentralized finance applications.To seed the fund, Aurora Labs, the core development team behind Aurora, allocated 25 millionprovide grants to developers interested in building DeFi-based applications on Aurora.
While Aurora is part of the NEAR Protocol ecosystem, it operates as a separate blockchain layer. It's main feature is compatibility with the Ethereum Virtual Machine — a computing environment used by Ethereum applications. With the launch of its new developer fund, Aurora Labs said it hoped to make its EVM layer on Near more appealing to Ethereum developers.
“Aurora DAO continues its mission to extend the Ethereum economy outside Ethereum blockchain. This grant is a next big step in the development of the Aurora ecosystem and I’m happy that Proximity Labs accompanies us in this journey,” said Dr. Alex Shevchenko, founder of Aurora Labs. Aurora has emerged as an important network in the Near ecosystem because of its EVM compatibility. It is home to emerging DeFi-centric apps including Aurigami,
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