Aura sheds light on its expansion to four networks

Aura has talked about the way it got onboarded on four networks. These include Arbitrum, Ethereum, Polygon, and Optimism. Per the post, two mechanisms of Balancer are credited with the deployment on the said network. These are cross-chain boosts and OFTs, short for Omnichain Fungible Tokens. Both are enabled by the communication primitive of Layer Zero.

Talking about the communication layer of Layer Zero, it has solved the problem of making data available from the mainnet to chains that are supported by the ecosystem. Prior to this implementation, gauge boosts were only available on the Ethereum mainnet. While that was not necessarily a problem, it became a hindrance after veBAL holders reported not receiving cross-chain boosts. This was due to the non-syncing factor of their balances.

With data being pushed from the mainnet to chains, the issue has been dealt with, and veBAL holders are hopeful of experiencing the said boost.

LPs, or liquidity providers, are likely to be on a much safer side. Balancer makes sure that the data which is provided is not fraudulent. That is, the data is free from manipulations done by a third party. Boost applied by Balancer spans across several chains with no restrictions whatsoever.

Balancer achieves this feat by bringing together the potential of relayer and smart contracts on different chains. Also, signatures specific to the chains enable Balancer to verify the data.

The next issue in line was managing $AURA and $auraBAL. Their functionality was not necessarily something that could be defined as complex. However, their management required solutions that were innovative and productive. Solutions just had to be specifically for cross-chai $AURA emissions. This was coupled with enabling users to lock their tokens on a layer-2 solution.

The community was looking for a solution that would enable them to lock $AURA and stake $auraBAL. The gap was bridged by the OFT concept of Layer Zero.

$AURA and $auraBALA were successfully bridged through the standards of sidechains and layer-2 solutions. Tokens that are bridged in the process are burnt or minted based on the situation that pertains at that moment. The functionality is backed by the relayer and smart contract mechanism of Layer Zero.

$auraBAL staking leverages auraBAL OFTs to mitigate manual intervention. The system is automatic, and the tokens are staked directly in the mainnet vault. Users following the suit become eligible for earning yield that is distributed proportionally to every vault of the sidechain.

The potentials of OFT by Layer Zero are scalable. Meaning it will be able to integrate with chains that enter the ecosystem in the days to come. Modifications, if any, will be looked into at a later stage. The OFT functionality will act as a communication primitive, retaining the flexibility to support the integration.

Moving forward, Aura has said that the team is working to deploy contracts and enable OFTs on chains that come into the ecosystem during the expansion.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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