AURORA LAUNCHES $90M FUND TO FINANCE DEFI APPS ON NEAR PROTOCOL

Last updated: June 19, 2025, 23:20 | Written by: Cathie Wood

The decentralized finance (DeFi) landscape is about to get a significant boost, thanks to a groundbreaking initiative. Aurora an EVM scaling mechanism on the Near protocol has launched a 90 million token fund in partnership with Proximity Labs to attract new developers Aurora anAurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApps) built on the Near protocol, has just announced the launch of a staggering $90 million token fund. Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has launched a token fund worth $90 million.The fund was launched Aurora launches $90M fund to finance DeFi apps on Near ProtocolThis substantial investment, launched in partnership with Proximity Labs, is specifically earmarked to fuel the development and growth of DeFi applications within the Near ecosystem. Aurora, an Ethereum Digital Machine (EVM) designed to scale decentralized functions (DApp) constructed on the Near protocol, has launched a token fund priceThis move signifies a major step forward in bridging the gap between the Ethereum and Near protocols, aiming to attract developers and users alike to explore the benefits of both worlds.But what exactly does this mean for developers, users, and the future of DeFi? Aurora Labs provided financial support by distributing 25 million AURORA tokens worth around $90 million from its DAO treasury to nearby labs. Dr. Alex Shevchenko, the originator of Aurora Labs, indicated that the new token fund would make creating Ethereum apps on the Near protocol more appealing to developers. Dr. Alex says, Aurora DAO sThis article will delve into the specifics of the fund, its objectives, and the potential impact it could have on the broader blockchain space.Get ready to explore how Aurora is paving the way for a more scalable and accessible DeFi future on Near Protocol.

What is the Aurora Fund and Why Does It Matter?

The Aurora fund represents a substantial commitment to expanding the DeFi ecosystem on the Near Protocol. The fund was launched today in partnership with Proximity Labs and will be focused on financing decentralized finance (DeFi) applications on the Near protocol. Near Protocol is a DApp platform that focuses on usability among developers and users.This initiative isn't just about throwing money at projects; it's a strategic move to cultivate a thriving community of developers and users by providing them with the resources and support they need to build innovative DeFi applications.

The Role of Proximity Labs

Proximity Labs plays a critical role in this venture. The fund was launched today in partnership with Proximity Labs and will be focused on financing decentralized finance (DeFi) applications on the Near protocol. Near Protocol is a DApp platform that focuses on usability among developers and users. As an emerging layer-1 competitor to Ethereum, Near Protocol is also smart-contract capable andAs a key partner, they will be responsible for managing and distributing the funds.This partnership leverages Proximity Labs' expertise in the Near Protocol ecosystem and their commitment to fostering its growth.By entrusting them with the responsibility of fund allocation, Aurora ensures that the capital is directed towards projects with the highest potential for success.

The fund's primary purpose is to provide financial backing to developers building DeFi applications on the Near Protocol. Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has launched a token fund worth $90 million. The fund was launched today inThis includes projects focused on:

Decentralized exchanges (DEXs): Facilitating seamless and secure token swaps.
Lending and borrowing platforms: Enabling users to earn interest on their crypto assets or borrow funds against their collateral.
Stablecoins: Creating price-stable cryptocurrencies that can be used for everyday transactions.
Yield farming protocols: Optimizing returns on crypto assets through various DeFi strategies.
Other innovative DeFi solutions: Encouraging experimentation and the development of novel financial instruments.

The fund aims to provide developers with the necessary resources to overcome the challenges of building on a new platform, such as access to capital, technical support, and mentorship.Ultimately, this initiative will accelerate the growth and adoption of DeFi on the Near Protocol.

The Technology Behind Aurora and Near Protocol

Understanding the technologies underpinning this fund is crucial to appreciating its potential impact. An EVM (Ethereum Virtual Machine) developed for the scaling of DApps (decentralized applications) constructed over the Near Protocol, Aurora, has introduced a token fund consisting worth of $90M. The launch of the fund was carried out in collaboration with Proximity Labs with its attention toward the financing of DeFi (decentralized finance) apps over the NearBoth Aurora and Near Protocol play vital roles in shaping the future of DeFi.Let's break down what each offers.

Aurora: Scaling Ethereum on Near

Aurora is, at its core, an Ethereum Virtual Machine (EVM) built on the Near Protocol.This means that it allows developers to deploy Ethereum-based smart contracts and DApps on Near without requiring significant code modifications. Aurora launches $90M fund to finance DeFi apps on Near Protocol by Michale Flatley Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has launched a token fund worth $90 million.This compatibility is a game-changer because it opens up the Near ecosystem to the vast community of Ethereum developers and the wealth of existing Ethereum-based projects.

Here's why Aurora is important:

Scalability: Aurora leverages Near's sharding architecture to achieve significantly higher transaction throughput and lower gas fees compared to Ethereum. The fund was initiated today by Aurora, alongside Proximity Labs and the DeFi Arm of the Near Protocol. To note is that the team at Aurora has assigned 25 million AURORA tokens from its DAO treasury to Proximity Labs to provide the $90 million in funding proposed for the development of DeFi applications on the Near Protocol. Proximity Labs willThis makes it a more viable platform for DeFi applications that require fast and cost-effective transactions.
Ethereum Compatibility: Developers can easily port their existing Ethereum DApps to Aurora, reducing development time and costs.
Interoperability: Aurora facilitates seamless asset transfers between Ethereum and Near, enabling users to leverage the strengths of both ecosystems.

Dr. Aurora has launched a $90 million developer fund to accelerate the development of decentralized finance (DeFi) applications built on NEAR platform.Alex Shevchenko, the originator of Aurora Labs, emphasized that the fund aims to make developing Ethereum applications on Near more attractive to developers.This strategic focus on ease of migration and enhanced performance positions Aurora as a key player in bridging the gap between the two blockchain ecosystems.

Near Protocol: A Developer-Friendly Platform

Near Protocol is a layer-1 blockchain designed with a strong emphasis on usability for both developers and users. The founder of Aurora Labs, Dr. Alex Shevchenko stated that the launch of the new token fund will help make developing Ethereum applications on the Near protocol more attractive to developers. Aurora DAO continues its mission to extend the Ethereum economy outside Ethereum blockchain.It offers several key features that make it an attractive platform for building DApps, including DeFi applications.

Key features of Near Protocol:

Sharding: Near utilizes a sharding mechanism called Nightshade, which allows the network to process transactions in parallel, significantly increasing throughput.
Developer Tooling: Near provides developers with a comprehensive suite of tools and resources, including SDKs, documentation, and support, to streamline the development process.
User Experience: Near focuses on creating a user-friendly experience with features like human-readable account names and simplified onboarding processes.
Smart Contract Capabilities: Near supports smart contracts written in Rust and AssemblyScript, offering developers flexibility and control.

Near's commitment to usability and scalability makes it an ideal platform for hosting DeFi applications. Aurora, an EVM scaling mechanism on the Near protocol, has launched a $90 million token fund in partnership with Proximity Labs to attract new developers.By combining Near's strengths with Aurora's Ethereum compatibility, developers can create powerful and user-friendly DeFi solutions that can reach a wider audience.

How to Access the Aurora DeFi Fund

For developers interested in tapping into this $90 million funding pool, understanding the application process and eligibility criteria is crucial.While the specific details might evolve, here’s a general overview based on current information and best practices for similar initiatives.

Application Process: Key Steps

Project Preparation: Before applying, ensure your DeFi project is well-defined. Aurora Labs recently unveiled a $90 million token fund in collaboration with Proximity Labs. The mentioned Fund will target financing decentralized finance (DeFi) applications. According to Dr. Alex Shevchenko, Founder of Aurora Labs, the new token fund will help make developing Ethereum applications on the Near protocol more attractive to developers.This includes a clear business plan, a robust technical design, and a strong understanding of the target market. Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) 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 decentralized finance (DeFi) applications on the Near protocol.Create a comprehensive whitepaper or pitch deck that articulates your project's vision, goals, and technical specifications.
Gather Required Documentation: Compile all necessary documents, which typically include:
- A detailed project proposal outlining the problem you're solving, your solution, and your team's expertise.
- A technical whitepaper describing the architecture, security measures, and scalability of your application.
- A business plan outlining your revenue model, target market, and growth strategy.
- Team member profiles highlighting relevant experience and qualifications.
- A roadmap with key milestones and timelines.
Identify the Application Portal: Visit the websites of Aurora Labs and Proximity Labs for announcements and application details.
Craft a Compelling Application: Highlight the unique value proposition of your project, its potential impact on the DeFi ecosystem, and how it aligns with the goals of the Aurora fund.
Submit Your Application: Follow the instructions provided on the application portal and ensure all required documents are submitted accurately and on time.
Follow-Up: After submitting your application, be prepared to answer follow-up questions from the review committee.Participate in interviews or presentations to further elaborate on your project and team.

Eligibility Criteria: What the Fund Looks For

While the specific eligibility criteria will be formally outlined in the application guidelines, projects will likely be evaluated based on the following factors:

Innovation: Does the project offer a novel solution to a problem in the DeFi space, or does it significantly improve existing solutions?
Technical Feasibility: Is the project technically sound and likely to be successfully implemented? Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApps) built on the Near protocol, has launched a token fund worth $90 million. The fund was launched todayDoes the team possess the necessary expertise to execute the project?
Market Potential: Does the project address a real market need and have the potential to attract a significant user base?
Team Strength: Does the team have a proven track record of success in the blockchain or DeFi space?
Impact on the Near Ecosystem: How will the project contribute to the growth and adoption of the Near Protocol?
Security: What security measures are in place to protect user funds and prevent vulnerabilities?
Compliance: Does the project comply with all relevant regulations and legal requirements?

By focusing on these key areas, developers can increase their chances of securing funding and contributing to the thriving DeFi ecosystem on the Near Protocol.Remember to stay updated on the latest announcements from Aurora Labs and Proximity Labs for the most accurate and detailed information.

The Impact on the DeFi Landscape

This $90 million fund has the potential to significantly reshape the DeFi landscape, not just on the Near Protocol, but across the entire blockchain ecosystem.By lowering the barriers to entry and providing much-needed resources, Aurora is fostering innovation and attracting top talent to the Near platform.

Increased Adoption of Near Protocol

The fund will likely lead to a surge in the development of DeFi applications on the Near Protocol.This increased activity will attract more users to the platform, driving adoption and increasing the overall value of the Near ecosystem.

Examples of potential impact:

New and Innovative DeFi Products: The fund could spur the creation of entirely new DeFi products and services that are not currently available on other platforms.
Improved User Experience: The focus on usability will lead to the development of DeFi applications that are easier to use and more accessible to a wider audience.
Greater Interoperability: The seamless integration between Ethereum and Near will enable users to move assets and data between the two ecosystems more easily.

Competition and Innovation in DeFi

By creating a more competitive environment, the Aurora fund will encourage developers to push the boundaries of what's possible in DeFi.This competition will lead to more innovative and efficient solutions, benefiting users across the board.

Consider these potential outcomes:

Lower Transaction Fees: The scalability of Near will enable developers to offer lower transaction fees compared to Ethereum, making DeFi more accessible to smaller investors.
Faster Transaction Speeds: The sharding architecture of Near will result in faster transaction speeds, improving the user experience.
More Secure DeFi Applications: The increased focus on security will lead to the development of more robust and resilient DeFi applications.

Extending the Ethereum Economy

Aurora's mission to extend the Ethereum economy outside the Ethereum blockchain is a bold and ambitious one.By providing a bridge between Ethereum and Near, Aurora is enabling users to leverage the strengths of both ecosystems.This collaboration will foster greater innovation and accelerate the growth of the entire DeFi space.

This expansion could result in:

Increased Liquidity: The ability to seamlessly move assets between Ethereum and Near will increase liquidity in both ecosystems.
Greater Accessibility: By making DeFi more accessible to a wider audience, Aurora is helping to democratize access to financial services.
More Collaboration: The collaboration between Aurora, Near, and the Ethereum community will foster greater innovation and accelerate the growth of the DeFi space.

Addressing Potential Challenges and Risks

While the Aurora fund presents a promising opportunity, it's important to acknowledge the potential challenges and risks that could impact its success.

Security Risks in DeFi

DeFi applications are inherently complex and can be vulnerable to security breaches.Smart contract vulnerabilities, hacks, and exploits are a constant threat, and any successful attack could result in significant financial losses for users.

Mitigation strategies:

Rigorous Audits: All DeFi applications should undergo thorough security audits by reputable firms before launch.
Bug Bounty Programs: Encourage community members to identify and report vulnerabilities by offering rewards for bug discoveries.
Insurance Protocols: Implement insurance protocols to protect users against financial losses in the event of a security breach.

Regulatory Uncertainty

The regulatory landscape for DeFi is still evolving, and there is significant uncertainty about how governments will regulate the space in the future.Unfavorable regulations could stifle innovation and hinder the growth of DeFi.

Staying compliant:

Legal Counsel: Seek legal advice to ensure compliance with all relevant regulations.
Industry Advocacy: Participate in industry advocacy efforts to shape the regulatory landscape.
Decentralization: Design DeFi applications in a way that minimizes regulatory risk.

Competition from Other Platforms

The DeFi space is becoming increasingly crowded, and Aurora faces competition from other platforms that are also vying to attract developers and users.To succeed, Aurora must differentiate itself by offering unique advantages and a superior user experience.

Differentiation strategies:

Focus on Usability: Make it as easy as possible for developers and users to interact with the Aurora platform.
Build a Strong Community: Foster a vibrant and supportive community of developers and users.
Offer Unique Features: Develop innovative features that are not available on other platforms.

Frequently Asked Questions (FAQs)

Here are some frequently asked questions regarding the Aurora $90 million fund, Near Protocol, and their impact on the DeFi ecosystem.

What is the Aurora DAO?

Aurora DAO is the decentralized autonomous organization that governs the Aurora network.It plays a crucial role in decision-making processes, including the allocation of funds and the implementation of new features.Aurora DAO empowers the community to participate in the development and direction of the platform.

How does the AURORA token work?

The AURORA token is the native token of the Aurora network.It's used for governance, staking, and paying transaction fees.Holding AURORA tokens allows users to participate in the Aurora DAO and influence the future of the platform.

Is Near Protocol a competitor to Ethereum?

While Near Protocol is an emerging layer-1 competitor to Ethereum, it's also designed to be complementary.Aurora's EVM compatibility allows developers to seamlessly port their Ethereum applications to Near, leveraging the scalability and usability of the Near platform.Rather than being a direct competitor, Near aims to work alongside Ethereum to create a more robust and interconnected blockchain ecosystem.

How does sharding improve scalability?

Sharding is a scaling technique that divides the blockchain into smaller, more manageable pieces called shards.Each shard can process transactions independently, allowing the network to handle a larger volume of transactions overall.This significantly improves transaction throughput and reduces congestion.

What are the benefits of building DeFi apps on Near Protocol?

Building DeFi applications on Near Protocol offers several advantages, including:

Scalability: Near's sharding architecture allows for high transaction throughput and low gas fees.
Usability: Near's user-friendly design makes it easier for developers and users to interact with DeFi applications.
Ethereum Compatibility: Aurora's EVM compatibility allows developers to easily port their existing Ethereum applications to Near.
Developer Tooling: Near provides a comprehensive suite of tools and resources to streamline the development process.

Conclusion: A Promising Future for DeFi on Near

Aurora's launch of the $90 million fund marks a significant milestone for the DeFi ecosystem on the Near Protocol.This initiative has the potential to attract a wave of new developers, accelerate innovation, and drive wider adoption of DeFi applications.By leveraging Aurora's Ethereum compatibility and Near's scalability and usability, developers can create powerful and user-friendly DeFi solutions that can reach a global audience.While challenges and risks remain, the potential rewards are substantial.The Aurora fund represents a bold step towards building a more accessible, efficient, and innovative future for decentralized finance.The key takeaways include:

The $90 million fund aims to accelerate DeFi app development on Near.
Aurora’s EVM allows for seamless Ethereum app migration.
Near Protocol provides a scalable and user-friendly platform.
The fund promotes innovation and competition in the DeFi space.
Addressing security and regulatory risks is crucial for success.

If you're a developer looking to build the next generation of DeFi applications, now is the time to explore the opportunities offered by Aurora and the Near Protocol.Don't miss out on the chance to be part of this exciting and transformative ecosystem.Consider exploring the available resources and begin your journey towards building the future of finance today!