{"id":61386,"date":"2022-05-13T10:16:42","date_gmt":"2022-05-13T07:16:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=61386"},"modified":"2025-09-05T11:51:40","modified_gmt":"2025-09-05T08:51:40","slug":"aurora-team-launches-90-million-fund-to-back-defi-projects","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/aurora-team-launches-90-million-fund-to-back-defi-projects\/","title":{"rendered":"Aurora team launches $90 million fund to back DeFi projects"},"content":{"rendered":"<p>Aurora, the Layer-2 protocol on the NEAR network, launched a fund in AURORA tokens worth about $90 million to accelerate DeFi development.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u203c Huge news for the Aurora Ecosystem!\ud83d\udd25<br \/>Read the full article on <a href=\"https:\/\/twitter.com\/TheBlock__?ref_src=twsrc%5Etfw\">@TheBlock__<\/a> \ud83d\udc47<a href=\"https:\/\/t.co\/TcqQ9ZZa0r\">https:\/\/t.co\/TcqQ9ZZa0r<\/a><\/p>\n<p>\u2014 Aurora (@auroraisnear) <a href=\"https:\/\/twitter.com\/auroraisnear\/status\/1524802243219709960?ref_src=twsrc%5Etfw\">May 12, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative was carried out in partnership with Proximity Labs. Funds from the Aurora Labs treasury were allocated from the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a>.<\/p>\n<p>Proximity will manage the fund and award grants to developers interested in building <span data-descr=\"decentralized applications\" class=\"old_tooltip\">dapps<\/span> on the protocol.<\/p>\n<p>Aurora provides full compatibility with <span data-descr=\"Ethereum Virtual Machine, the Ethereum virtual machine\" class=\"old_tooltip\">EVM<\/span> \u2014 the runtime for Ethereum applications.<\/p>\n<p>Aurora Labs aims to make the protocol more attractive to developers from the second-largest cryptocurrency network.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abAurora DAO continues its mission to extend the Ethereum economy beyond Ethereum\u2019s blockchain. This grant is the next big step in the development of the Aurora ecosystem, and I\u2019m glad Proximity Labs is joining us on this journey\u00bb \u2014 said Dr. Alex Shevchenko, CEO of Aurora Labs.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u201cAurora 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\u2019m happy that Proximity Labs accompanies us in this journey,\u201d said Dr. Alex Shevchenko, CEO of Aurora Labs.<\/p>\n<p>\u2014 Aurora (@auroraisnear) <a href=\"https:\/\/twitter.com\/auroraisnear\/status\/1524802248974295048?ref_src=twsrc%5Etfw\">May 12, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The total value locked in DeFi protocols on Aurora has surpassed $806 million, according to <a href=\"https:\/\/defillama.com\/chain\/Aurora\">DeFi Llama<\/a>.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/n5AXvHLrrSXuBy2pfvgHmeIDDmdoZmsP4oN9Dx1JQgXMHfj32NGfjQhdRDufG5TRFgZpW7SVvGuNBGeCFCUG57-qw3UD_bp5EqeWtMJAZ0iTQ416obifMrEqaCLXDfWpl428RLuqxDEhG7_lfg\" alt=\"Aurora team launches a $90 million fund to back DeFi projects\"\/><figcaption>Source: DeFi Llama.<\/figcaption><\/figure>\n<p>More than 43% of the total is accounted for by Bastion. In March the project <a href=\"https:\/\/forklog.com\/en\/news\/bastion-lending-protocol-raises-seed-round\">attracted seed funding<\/a> of an undisclosed amount. In April Bastion <a href=\"https:\/\/forklog.com\/en\/news\/defi-lending-protocol-bastion-closes-9-million-series-a-led-by-three-arrows-capital-and-ftx\">closed a $9 million Series A round<\/a> led by Three Arrows Capital.<\/p>\n<p>In May 2021, the NEAR Protocol team <a href=\"https:\/\/forklog.com\/en\/news\/near-protocol-developers-launch-ethereum-layer-2-protocol\">launched the L2 protocol Aurora<\/a> to interact with Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aurora developers, the Layer-2 protocol on the NEAR network, launched a fund in AURORA tokens worth about $90 million to accelerate DeFi development.<\/p>\n","protected":false},"author":1,"featured_media":61387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1156,1216],"class_list":["post-61386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-institutional-investors-and-whales","tag-near-cryptocurrency"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/61386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=61386"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/61386\/revisions"}],"predecessor-version":[{"id":61388,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/61386\/revisions\/61388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/61387"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=61386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=61386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=61386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}