What is Aurora EVM (AURORA)? Details of the AURORA . token

• Overview of Aurora EVM
• What is Aurora EVM (AURORA)?
• Highlights of Aurora EVM
• How Aurora Works
• Development roadmap
• Team, investors and partners
• Overview of the AURORA . token
• General information about the AURORA . token
• AURORA . token allocation and release schedule
• Buy, sell and trade AURORA tokens on which exchange?
• Future of Aurora project and should invest in AURORA token?
• summary

Overview of Aurora EVM

What is Aurora EVM (AURORA)?

Aurora EVM is an Ethereum Virtual Machine deployed as a smart contract on NEAR Protocol . Aurora is considered an intermediary tool that helps developers to easily and quickly replicate and scale their decentralized applications from the Ethereum platform to the NEAR Protocol. From there, they can take advantage of many outstanding features of NEAR Protocol such as gas fees, throughput, and high scalability for their users.

Aurora consists of two main core parts:

• Aurora Engine: allows the network to deploy smart contracts in two programming languages ​​Solidity and Vyper.
• Aurora Bridge: allows Ethereum-based tokens to be migrated to NEAR for pooling, trading, and usage. This is a bridge application built and developed based on Rainbow Bridge.

Highlights of Aurora EVM

• High compatibility with Ethereum. Aurora provides the same development experience as Ethereum 1.0, with the same speed and scalability as a Layer 2. Aurora also supports all the tools available in the Ethereum ecosystem such as MetaMask, Truffle, Hardhat, Remix . … Developers do not need to rewrite their applications to run on Aurora. 
• High throughput and scalability. Aurora runs on NEAR Protocol, one of the third generation blockchain platforms with high performance, scalability.
• Low transaction costs
• Aurora Bridge is based on Rainbow Bridge which makes it easy to move assets from Ethereum and NEAR Protocol to Aurora with ease and low transaction costs.
• ETH is Aurora's native token and all transaction fees are calculated in ETH

How Aurora Works

1. Users use decentralized tools and applications such as MetaMask, CLI libraries, etc. to sign a regular Ethereum transaction and send it to the RPC. In which, RPC stands for Remote Procedure Calls (roughly translated as remote procedure calls), is a concept that tries to generalize a normal procedure call in the case that the requestor and the receiver do not reside in the same process, system, network, etc., and are distributed on separate machines.
2. RPC encapsulates an Ethereum transaction into a Near Protocol transaction.
3. The RPC then sends this packet to Near Protocol.
4. Near Protocol unpacks the packet, then calculates how much NEAR gas to use.
5. Near Protocol sends a signed Ethereum transaction as a parameter of the Aurora contract call at Aurora Engine.
6. Aurora Engine analyzes and executes the Ethereum transaction and calculates the amount of gas fees to use in the process, including the previous amount of NEAR gas fees.
7. Users make payments in ETH according to gas prices provided by Aurora Engine.

Development roadmap

After a successful launch, Aurora has achieved several achievements in 2021:

• Established AuroraDAO based on SputnikDAO
• Deploy decentralized applications from Ethereum on Aurora with high compatibility
• Complete Aurora Bridge
• Successful first round funding of $12 million
• Gas fees are paid in ERC-20 . tokens
• Successful release of AURORA . coin

In 2022, Aurora aims to enable sharding to increase the scalability of the Ethereum ecosystem before Ethereum 2.0 is launched.

Team, investors and partners

Development team

The main development team of the Aurora project includes:

• Alex Shevchenko – CEO : Alex has over 10 years of experience in IT and blockchain. He served as chief technology officer for SonoCoin and product manager at Near Protocol.
• Arto Bendiken – Chief Technology Officer : Arto is a programmer and entrepreneur with more than 20 years of experience in the field of software programming. He has worked with major organizations such as the European Space Agency (ESA), the US Navy's Space Agency and the Naval Warfare Systems Command (SPAWAR).
• Frank Braun – Head of Security : Frank has 20 years of experience in building complex software systems.
• Yulian Lavysh – Executive Manager : Yulian has more than 4 years of experience in business administration. He previously held the position of business development and project manager of Near Protocol.
• Matt Henderson – Product Manager : Matt started his career in engineering at the European Space Agency. Later, he founded a space engineering company and a digital product design and development company for brands such as Google, Virgin America, Live Nation, National Writing Project, etc.

Investors

Aurora successfully raised $ 12 million with more than 100 investors, led by Pantera Capital, Electric Capital, Dragonfly Capital.

Partner

Aurora is currently a partner with many leading projects in the blockchain field such as Near Protocol. 1inch, DODO, Chainlink, SnowSwap, Band, DeFiner, ImToken…

Overview of the AURORA . token

AURORA is the governance token of the Aurora project. Tokens will be deployed on the Ethereum platform and then bridged to NEAR and Aurora via Rainbow Bridge. A portion of the tokens will be donated to the community fund. This fund will be used to support running and upcoming projects on the Aurora platform.

Some functions may be developed in the future if adopted by AuroraDao:

• Staking tokens AURORA
• Reward AURORA holders who participate in voting from the community fund
• Pay transaction fees on Rainbow Bridge
• Transaction acceleration fee on Rainbow Bridge
• Additional contract fees on Aurora
• Transaction pool service for Aurora validators
• Farming on Rainbow Bridge

General information about the AURORA . token

• Token name: Aurora
• Ticker: AURORA
• Blockchain: Aurora
• Token standard: ERC-20
• Contract: 0x8bec47…3b9f79
• Token type: Utility, Governance
• Total supply: 1,000,000,000 AURORA
• Circulating supply: 795.247 AURORA

AURORA . token allocation and release schedule

• Community Treasury: 20% (200,000,000 AURORA), unlocked, stored
• Aurora Labs development team: 16% (160,000,000 AURORA), lock, transfer
• Private round: 9% (90,000,000 AURORA), lock
• Distribution to the NEAR ecosystem: 3% (30,000,000 AURORA), no key. These tokens will be distributed evenly linearly over 3 years to AURORA validators
• Seed round: 2% (20,000,000 AURORA), lock
• Project Advisor: 1% (10,000,000 AURORA), no lock
• Aurora Ecosystem Development: 1% (10,000,000 AURORA), no lock. These tokens are used for IDO events, deploying groups on AMM, market creation, partnerships and other activities defined by Aurora Labs
• AuroraDAO: 48% (480,000,000 AURORA) keyless, archived. These tokens are stored on the DAO system for upcoming projects

The unlocking schedule for locked AURORA tokens will be after the TGE event on November 18, 2021 announced by the project as follows:

• Two-year unlocking schedule
• Linear distribution every 3 months
• Unlock 25% after 6 months from TGE. Then continue to unlock 12.5% ​​after 9, 12, 15, 18, 21 and 24 months.

Buy, sell and trade AURORA tokens on which exchange?

AURORA is currently being traded on both centralized and decentralized exchanges such as Gate.io, MEXC, TriSolaris, WannaSwap ...

Future of Aurora project and should invest in AURORA token?

Aurora is a very important piece to the NEAR Protocol. Aurora EVM is like a bridge that makes decentralized applications from Ethereum to NEAR Protocol easy and fast. After EVM is available, new projects and investment capital flows into ecosystems such as Binance Smart Chain, Polygon ... more and more, thereby attracting a large number of users and developers to the platform. mine. After the launch of Aurora EVM, it is expected to help attract a large number of developers from Ethereum to NEAR Protocol and fill in the missing pieces in the platform's ecosystem.

summary

Hopefully with the above information, you have had more information and your own assessment about the Aurora project. Aurora is a project that aims to expand the NEAR ecosystem with solutions for Ethereum. Aurora is fully compatible with Ethereum 1.0 and smart contract features are available. This makes Aurora an important project to help attract more users, developers, and investors from Ethereum to Near Protocol.

For more details about the project, readers can view information at the media channels:

Twitter | Telegram | Discord | Youtube | Github | Project information

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