Aura Crypto Platform

Pros

$720,042,618 USD currently invested (TVL)

Investments in 61 coin pairs available

Operating on Ethereum protocol

Cons

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Aura Reviews

The Aura Network was founded by Hoang-Giang Tran and co-founders Yamato Tran and Steve Nguyen in 2021. Aura Network is an open-source layer-1 NFT-centric blockchain platform which focuses on chain optimization for NFT use cases. In order to comprehend the Aura Network, we should make explicit the NFT concept first. NFT stands for non-fungible token. NFT can be considered a kind of cryptocurrency which represents valuable assets. Both digital and physical assets can be bought with crypto tokens in the digital platform. NFTs are built on a smart contract compatible blockchain networks similar to Ethereum or Avalanche. Different networks such as Ethereum, BSC, Avalanche, Solana, and BNB Smart Chain have their own NFTs and NFT marketplaces. The main problem with the NFT is collaborations and transactions between these different Blockchain Ecosystems. Thus, the purpose of the Aura Network is to create an ideal network to optimize all of the NFT platforms. For the future, the Aura Network team plans to create a one-stop destination for minting, evaluating, querying, and transacting NFT, and become a guide NFT infrastructure.

Auro Network Ecosystem consists of 4 basic blocks: Insfrusturecture, Currency, Decentralized Apps and Open API. In the Insfrusturecture layer, Aura is built using Cosmos SDK which is the most popular framework for building blockchains.

In the Currency, Aura Coin on its mainnet and Aura Token on BNB Smart Chain are governance tokens of the Aura tokenomics. Aura Coin differs from Aura Token in having wide use such as staking, governing in voting, transaction fee usage, exchange and swap. Aura also supports creating CW20 tokens.

In the Decentralized Applications (DApps) layer, Aura Network offers a great variety of applications that provide a lot of benefits to the users in the cryptocurrency world, transitioning to Web3, especially in NFT. These decentralized applications are AuraScan, Pyxis Safe, Coin98 Wallet, NFT Hub and more will come soon.

The Aura Network team states 3 main phases for their projects. Phases one and two have been accomplished. In 2023, the team aims to expand its network and innovate in NFT, metaverse, and gaming projects.