Announcing a 25M $AURORA Grant to Further Grow the Aurora DeFi Ecosystem

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NEAR Protocol’s EVM layer, Aurora, has allocated 25 million of its treasury tokens to Proximity Labs to further support the growth of the Aurora DeFi ecosystem.

Aurora is the EVM (Ethereum Virtual Machine)-compatible execution environment built on NEAR Protocol, which provides one of the best Ethereum scaling solutions with its high throughput and minimal transaction costs. With the launch of its flagship projects AurigamiBastion, and Trisolaris, Aurora has seen exponential growth in the past months.

Aurora DAO continues its mission to extend Ethereum economy outside Ethereum blockchain. This grant is a next big step in the development of Aurora ecosystem and I’m happy that Proximity Labs accompanies us in this journey

– Dr. Alex Shevchenko, Founder of Aurora Labs

Aurora’s total value locked (TVL) has doubled since the beginning of this year, crossing the $1.3b mark this May. It is currently in the Top 10 EVM networks on DeFi Llama, with more than 100 projects in its ecosystem.

In light of this, the Aurora DAO has decided to allocate 25 million $AURORA from their treasury to Proximity Labs, entrusting their DeFi expertise to further accelerate the growth of the Aurora ecosystem.Proximity will utilize the funds to further support the projects most crucial to Aurora’s success with grants, as well as attract new talent and projects.

Proximity Labs has been immensely helpful since Day Zero on ideating about Bastion’s products, go-to-market strategy, grants, and ecosystem partnerships. Proximity has and will continue to be pivotal in the shaping of DeFi and onboarding of new developers on Aurora.

– N², Founder at Bastion Protocol

Are you building the future of DeFi on Aurora? Get in touch with Proximity.

About Aurora

Aurora is an EVM built on NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users. Aurora’s main features include,

  • Fully compatible EVM for fast deployment of Solidity smart contracts;
  • Horizontal scaling possibility thanks to NEAR Protocol’s dynamic resharding;
  • High throughput (x10 increase in transaction throughput comparing to Ethereum);
  • Fast confirmations (Transaction execution takes only 1–2 seconds in Aurora);
  • x1000 reduction in gas costs;
  • Trustless bridge architecture between Ethereum and Aurora / NEAR.

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About Proximity Labs

Proximity Labs is the NEAR DeFi-focused research and advisory firm consisting of former members of the NEAR Foundation, Binance, Consensys, Facebook, and more. Proximity works to support the NEAR and Aurora DeFi ecosystem through grants, advisory services, as well as publishing open-source software for developers. It has advised bluechip DeFi projects such as Bastion, Aurigami, Ref FinanceBurrow, and Trisolaris, which have contributed to both NEAR and Aurora’s recent success.

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