Another week, another chain. The pace never slows when it comes to new networks and the Beefy cow doesn’t disappoint. We’re happy to announce the release of our new Aurora vaults, making it the thirteenth protocol we support. How’s that for multi-chain?
What is Aurora?
Aurora is an Ethereum Virtual Machine (EVM) on the NEAR blockchain, developed by the NEAR Protocol team. The project consists of the EVM Aurora Engine and the Rainbow Bridge to transfer ERC-20 tokens, Ether (ETH), and NEAR tokens. Aurora uses a DAO structure to process key decisions as well as input from a central entity.
How does gas work on Aurora?
Users can pay their transaction fees with ETH on Aurora. Relayers will take transactions in the EVM environment and complete them as NEAR transactions. An appropriate ETH amount will then be charged to match the NEAR fee. At the moment, Aurora is offering zero fees while the logic for their gas system is being developed.
What vaults will Beefy support on Aurora?
We just deployed with Trisolaris vaults, this means that you can start earning compounded interests on your Trisolaris deposits, with the level of safety only Beefy can give you. If you want your favorite Aurora project on Beefy head over to our Discord and let us know which one it is.
These are the current opportunities on Aurora Beefy, much more to come.
What tokens can you bridge to Aurora?
You can bridge ETH and ERC-20 tokens using the Rainbow Bridge, as well as tokens from the NEAR chain. Bridging is done in a single transaction when bridging from Ethereum to Aurora´ and takes ten minutes. Bridging from Aurora to Ethereum can take up to 12 hours and requires two transactions.
To start bridging, head to Synapse Protocol and connect your wallet. You can bridge USDT, USDC, DAI, between many chains, to Aurora.
If you have your funds in Ethereum you can use the Rainbow Bridge
How will this impact $BIFI holders?
As always, more chains mean more sources of revenue for Beefy. With 13 networks supported and no inflation of BIFI’s supply, this is good news for $BIFI holders. Buybacks will increase along with TVL, putting positive buying pressure on the token.