Ethereum Virtual Machine Aurora has unveiled a token fund worth $90 million for decentralized applications based on Near Protocol.
Aurora Labs contributed 25 million AURORA tokens, currently valued at $90 million, from its DAO treasury to Proximity Labs.
Aurora Labs founder Alex Shevchenko says that the fund will enhance the development of Ethereum applications on the Near blockchain.
An EVM is a blockchain-based computer system at the center of the Ethereum operating system used in transaction execution, smart contracts, and other operating functionalities. EVM also enables developers to create dApps on its blockchain.
Some autonomous blockchains that have integrated the EVM include BNB Chain, Polygon, Avalanche, and Fantom.
Near Protocol is a decentralized application platform that aims for usability among developers and users. The Protocol is also a smart contracts ecosystem operating a proof-of-stake consensus model.