Purpose

Aurora is a suite of DApps and protocols that together comprise a decentralized and autonomous banking and finance platform. Complete with its own stablecoin, the boreal, Aurora aims to recreate and improve upon the existing financial ecosystem.

The primary components of Aurora are a cryptocurrency bank (Decentralized Capital) and a financial asset exchange (IDEX). All of Aurora operates on a distributed computing network. It utilizes an EVM compatible child chain for transaction processing. This decentralizes the whole system and enables it to run autonomously.

Decentralized Capital (DC) supplies boreals  and provides  banking services to those who are underserved by the current system. The stablecoin is backed by cryptocurrency reserves, debt from loans, and DApps endorsements. This ensures a price stability that is on par with existing fiat options.

The project also has a component called Snowglobe, which is a protocol for high-performance, EVM-compatible, decentralized child chain exchanges. It allows for all exchanges on the network to share liquidity in one orderbook while maintaining their high performance.

Transaction fees from the Aurora banking system flow back to those who stake the AURA token. They provide the economic foundation that holds Aurora and Snowglobe together.

 

Strengths

– A stablecoin integrated in an exchange represents a good option for investors who do not wish to cash out

– Incentive for market makers to join early with their Reward Program on limit orders to insure liquidity

– They can leverage IDEX, the top decentralized exchange by volume and liquidity

 

Weaknesses

– IDEX still lacks access to non-ETH assets, restricting its liquidity and growth

-They are looking to achieve a vast array of things that each require tremendous development effort and community building and could wear their resources too thin

– Branding themselves as semi decentralized to start might dissuade the investors who turned to crypto exchanges for that reason

-Their model for the stablecoin is unproven and will greatly be affected by the market dynamics of ETH

 

Aurora Network Status

The Aurora exchange is live.

 

Roadmap

Q3 2018 – Boreals go live with market making to stabilize the price

Q3 2018 – Deploy child chain architecture, allowing IDEX to increase transaction throughput.

Q4 2018 – Decentralization of the orderbook and transaction arbiter. The IDEX product is completely a decentralized child chain exchange.

Q1 2019 – Margin trading support. Including this in the protocol will put it on par with existing centralized exchanges.

TBD – Launch the Snowglobe MVP, allowing other exchanges to build on the protocol.

TBD – Fully decentralized Aurora MVP with DC boreal loans

 

Governance

Initial changes to the exchange will be made internally at regular intervals based on the data collected through the various stages of development. However, the governance of the network will ultimately be given entirely to those staking it, allowing all participants to propose and vote on changes.

 

Similarities

Aurora is similar to COSS and Huobi in the sense that they are all exchanges with reward programs and trading fee discounts. However, the introduction of the boreal stable coin is unique for non-custodial exchanges. Snowglobe will compete with plasma chains built for decentralized exchanges on Ethereum.

 

Notable partnerships

Their listed partners include KuCoin, Markets Insiders, CoinTelegraph and more but most of those are exchanges and publications so don’t count as real value-add partners.

 

Exchange

Aurora is listed on Kucoin and Bitinka.

 

Stack

Aurora provides its own side-chain protocol while its exchange is built on Ethereum.

 

Community

Twitter: 34.2k

Reddit: 1.7k

Telegram: 12,174

 

Price history

September 17, 2018: 0.08$
August 2018: 0.11$
July 2018: 0.88$
Feb 2018: 0.21$

 

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.