Saddle is Live on Aurora!
What is Aurora?
Aurora is an Ethereum Virtual Machine based on the Proof of Stake Layer 1 blockchain, NEAR Protocol. Aurora enables developers to deploy their apps on an Ethereum-compatible, high-throughput, scalable, and future-safe platform with low transaction costs for their users.
A turnkey solution for developers, Aurora is implemented as a smart contract on NEAR, enabling dApps to seamlessly migrate to NEAR and utilize its high speed and low fees. Aurora is an EVM scaling solution, not an L2 (although it provides a solution similar to Layer 2s).
Core components of The Aurora Environment
- Aurora Engine - High-Performance EVM for fast deployment of Solidity smart contracts
- Rainbow Bridge - A trustless bridge for the bilateral transmission of data and assets (ETH and ERC-20 tokens) between Ethereum and Aurora/NEAR
Why is Aurora Interesting?
A novel implementation of the EVM, Aurora plays a massive role in the growth of DeFi on NEAR.
Aurora’s main features include:
- Full Ethereum Compatibility that enables developers to port their existing dApps frictionlessly onto NEAR
- High throughput at near zero-cost transactions ($0.02 average transaction fee)
- Fast confirmations (2-3 seconds)
- Scalability with NEAR’s dynamic resharding
- A trustless bridge to facilitate the transfer of assets between Ethereum and Aurora
A primary concern from users about Ethereum-based DeFi products is the high transaction fees, serving as a barrier to entry for developers and users alike. Aurora, with its extremely low fees, is designed to tap into Ethereum’s ecosystem of dApps. Additionally, the base fee of Aurora is ETH which makes the experience for the end user smooth and convenient.
Saddle Lands on Aurora
We believe, Aurora provides an excellent platform for Saddle to become the dominant cross-chain stablecoin swap provider, starting with a 2pool.
Additionally, its robust app network and partnership program is bound to open a world of opportunities for Saddle to expand its footing.
On Jan 15, 2023, the Saddle community passed the SIP-48 proposal to deploy a 2pool consisting of USDC and USDT to Aurora.
Saddle is a decentralized AMM that enables cheap, efficient, fast, and low-slippage swaps. Saddle is built by a team of DeFi natives aimed to bridge the gaps between the different silos of DeFi. We believe in collaboration, building Saddle as a DeFi lego block, and helping DeFi teams bring AMMs to any blockchain.
Feel free to reach out through our community Discord or follow us on Twitter.