Aurora launches $90 million fund to finance DeFi apps on Near Protocol
Aurora, an EVM designed to scale decentralized applications built on the Near protocol, has launched a token fund worth $90 million. The fund was launched today in partnership with Proximity Labs and will be focused on financing DeFi applications on the Near protocol.
Funding was provided by Aurora Labs, which allocated 25 million AURORA tokens — currently valued at roughly $90 million — from its DAO treasury to proximity labs. As a result of the funding model, Proximity Labs will now be responsible for managing the funds and providing grants to developers aiming to build DeFi Dapps on Aurora.