Auto-compounding protocol Aurora Finance has introduced its protocol known as The Major Auto-Compounding Protocol. The compounding protocol currently offers the best APY rates for digital assets, with interest rising as high as 383,025.81%.
Users get paid interest every 15 minutes automatically to all those eligible. Aurora reduces users’ risks with its Aurora Insurance Fund (AIF), a special wallet that backs the reflection rewards that are distributed to token holders within the ecosystem. 5% of all transaction fees are held within the wallet to support the ecosystem’s operations.
Although it also plays this role, the AIF is primarily used to secure users’ funds against flash crashes and for reducing downside risks. The Aurora Treasury is another component that helps to protect users by providing support to AIF in cases of extreme price drop of assets. It also provides funding for other projects in the metaverse and supports the team’s marketing efforts.
The protocol is powered by the Aurora token, $AURA which provides benefits and value to token holders. As long as they hold tokens in their wallets, they will be rewarded with high compound interest every 15 minutes.
Since interest is auto-compounded, there is no need to repeatedly re-stake assets to generate revenue. This eliminates any complications in staking procedures as well as third-party interferences. The protocol is highly secure as it has undergone auditing by Solidity Finance, a renowned audit firm in the blockchain space.
How to buy AURA
Anyone can buy AURA, but it is more convenient for Avalanche C-Chain users. Users can buy on Trader Joe or Bogged.Finance. The following steps are used to buy the token on Bogged.Finance:
- Send AVAX to your wallet
- Go to Bogged.Finance and enable the Autotax option by setting it to 15%.
- Swap the AVAX for USDC.e on the website, keeping some AVAX to cover fees.
- Use your USDC.e to purchase $AURA.
Source: ZyCrypto
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