Baryon Spotlight #1: What is Aura Network (AURA)?
A brand new series just landed on Baryon Blog! This series will give an overview of all projects settled in BaryonFarm and BaryonStake, and as a result, you will be able to make your own assessment of whether it is a good investment or not.
What is Aura Network?
Aura Network is a layer-1 blockchain with a more refined NFT experience, multichain capability, and a comprehensive DApp ecosystem. Aura Network builds the Internet of NFTs and integrates them into the Metaverse.
The Aura Network protocol allows users to mint, rate, track data, or trade NFT for the goal of constructing a strong platform to support all trading assets on the crypto market in a simpler and easier way.
How does Aura Network work?
- A standardized framework for managing NFTs - The basis for NFT's standard interfaces was created by token standards like ERC-721 and ERC-1155. How these tokens are created and used in dApps depends on the creativity of developers. It is the source of complexity in developing dApps.
- A multi-chain solution that enhances the utility of NFT - Private Blockchain and Public Blockchain are the 2 components of the current blockchain. The majority of the current NFTs are developed on public blockchain networks, but Aura Network seeks to expand the user base and applicability of NFTs.
- NFT Infrastructure Improvement for Metaverse - The advancement of real-world asset development to NFT is important for reaching Metaverse parallelism.
The last stage of Aura Network is to collaborate with game and service providers like Decentraland, Axie Infinity, Meta, Microsoft, and others to bring NFT on-chain to these virtual worlds as a common framework for working with NFT.
Here is the project's roadmap:
AURA’s Key Metrics
- Token Name: Aura Network
- Ticker: AURA
- Blockchain: BNB Smart Chain
- Token Standard: BEP20
- Contract: 0x23c5D1164662758b3799103Effe19cC064d897D6
- Token type: Utility, Governance
- Total Supply: 1,000,000,000
AURA Token Allocation
- Block Rewards: 25%
- Team: 20%
- Ecosystem Growth: 20%
- Strategic: 20%
- Foundation Reserves: 10%
- Public Distribution: 5%
AURA Token Use Cases
- Governing: Holders can vote for software updates or important decisions on the Aura community.
- Staking: Aura holders can delegate their coins to earn passive commission.
- Transaction fee: This blockchain’s native coin is used to pay for transaction fees.
- Exchange and Swap: AURA can be exchanged or swapped in the market.
How to get AURA Tokens on Baryon
Step 1: Access BaryonSwap at https://www.baryon.network/swap.
Click Connect Wallet at the top right corner.
If you have not installed the Coin98 Extension yet, you can download the extension here.
Step 2: Enter the required information to conduct the transaction:
- Select AURA/BUSD pair.
- Enter the number of tokens you want to swap.
- Choose Approve BUSD (for the first time) --> Swap to complete.
Step 3: Carefully read the information displayed before trading such as the amount that you expect to receive, and the price impact (the difference between the market price and the estimated price provided by BaryonSwap).
How to maximize your earn AURA on Baryon
On Baryon, you can:
Add AURA - BUSD LP and farm on Baryon with steaming hot APR.
Stake AURA and earn AURA directly on BaryonStake. No impermanent loss!
Aura Network Trading Competition - with a massive total reward of up to 300,000 AURA.
Hopefully, you have gained a better understanding of Aura Network as well as how to make the most out of AURA tokens on Baryon.
See you all in the upcoming posts of Baryon-Spotlight Series!
About Baryon Network
Incubated by Coin98 Labs, Baryon Network is a BNB Smart Chain-based Premier Suite of DeFi Products containing three fundamental building blocks: BaryonSwap (AMM), BaryonFarm, and BaryonStake.