What is Aurora?
Aurora is a decentralized finance (DeFi) platform that is built on top of the NEAR Protocol. It aims to provide a user-friendly and highly accessible DeFi platform that anyone can use, regardless of their technical background or experience with blockchain technology. Aurora offers DeFi services, including decentralized exchanges (DEXs), liquidity pools, yield farming, and lending and borrowing. In addition, the platform is designed to be highly scalable and interoperable, allowing it to support many users and applications.
What are the core features of Aurora?
- Cross-chain interoperability: Aurora enables interoperability between different blockchain networks, allowing users to access and transfer assets between different networks.
- High transaction throughput: Aurora is designed to process a high volume of transactions per second, making it a scalable solution for DeFi applications.
- Low transaction fees: Aurora uses a Proof-of-Stake (PoS) consensus mechanism, which allows for lower transaction fees compared to other consensus mechanisms like Proof-of-Work (PoW).
- User-friendly interface: Aurora provides a user-friendly interface for users to access and interact with DeFi applications, making it easier for non-technical users to participate in DeFi.
- Decentralized governance: Aurora has a decentralized governance system that allows token holders to vote on proposals and decisions related to the future development of the platform.
What is the native token of Aurora?
The native token of the Aurora network is called AURA. AURA serves as the primary asset of the Aurora platform, which is a decentralized finance (DeFi) platform that is built on top of the NEAR Protocol. AURA is used for various purposes on the Aurora network, including paying transaction fees, participating in governance decisions, and providing liquidity for decentralized exchanges (DEXs) and other DeFi protocols. For example, AURA holders can stake their tokens to participate in the consensus mechanism of the network and earn rewards for doing so. In addition, AURA holders have the ability to participate in governance decisions for the network, such as proposing and voting on changes to the protocol.