AURORA

Aurora's core technology revolves around its EVM compatibility and the innovative concept of Virtual Chains, which are customizable, high-performance blockchains operating as smart contracts on the NEAR Protocol. This unique integration allows Aurora to leverage NEAR's scalability while maintaining compatibility with Ethereum's extensive ecosystem. Key components include the Rainbow Bridge for trustless asset transfers between Ethereum, NEAR, and Aurora, and Aurora Cloud, which simplifies the deployment of virtual chains for businesses. This robust infrastructure supports a wide array of Web3 applications, from DeFi to gaming.

The `aurora` token is primarily the governance token for the Aurora network. Its main use case is to empower the AuroraDAO, allowing token holders to participate in decision-making processes that guide the project's sustainability and future development. By aligning incentives among users, applications, and the protocol, the `aurora` cryptocurrency ensures a community-driven approach. While the scraped data emphasizes governance, the broader ecosystem supporting DeFi, payments, and gaming applications suggests potential future utility for the token within these Web3 sectors.

Aurora implements the Aurora Engine – a NEAR-based smart contract that executes unmodified Ethereum bytecode while leveraging NEAR's sharded architecture. This allows Ethereum dApps to deploy without code changes while benefiting from NEAR's parallel transaction processing. The system translates Ethereum gas to NEAR gas through a deterministic ratio, maintaining compatibility while achieving ~1000x lower fees and ~10x higher throughput than Ethereum mainnet.

Yes, Aurora's ERC-20 gas feature enables payment in whitelisted tokens like stablecoins (USDC, USDT) or wrapped assets (wNEAR). This is implemented at the RPC level, allowing providers to offer flexible fee models including token-specific discounts or fixed fee conversions. The feature reduces exchange rate exposure for users and RPC operators while maintaining compatibility with existing Ethereum tooling.

Rainbow Bridge employs light client verification with Merkle proofs to validate transactions without trusted intermediaries. It continuously monitors chain reorganizations and implements automatic challenge mechanisms for invalid transactions. The system's economic security derives from NEAR's proof-of-stake consensus, with additional safeguards including multi-signature monitoring contracts and decentralized relayers that prevent single points of failure.

When users pay transaction fees in ETH, 30% of the converted NEAR value accumulates in Aurora smart contracts. These funds automatically execute monthly buybacks of AURORA tokens from decentralized exchanges using 1inch aggregation. The purchased tokens are permanently burned through transfers to unrecoverable Ethereum addresses, creating deflationary pressure proportional to network usage.

Borealis Business enables enterprises to sponsor user transactions through customizable rules defined in the Rule Engine. Companies can absorb fees based on conditions like user geography, transaction type, or time periods. This allows traditional businesses to offer gasless experiences similar to web applications. The solution also supports private Aurora Chains with custom consensus rules and role-based access controls for enterprise deployment scenarios.