Aurora is launching a fund! And not just any fund, but to support DeFi developers on the NEAR protocol. What is it, and why?
The fund was introduced today in collaboration with Proximity Labs, the DeFi-hub of the NEAR protocol. Aurora Labs gave Proximity Labs 25 million AURORA tokens (about $90,000,000) from its DAO treasure to create the fund.
Proximity will manage the tokens and provide grants to developers interested in building DeFi-based applications on Aurora. Such token-based funds are used by blockchain or cryptocurrency founders as a strategy to boost overall network activity.