[Approved] Allocation of the budget for Aurora Labs for 2022-2023

Aurora Labs is a major contributor to the Aurora ecosystem. The focus of Aurora Labs is to develop Aurora tech, which includes Aurora Engine and Rainbow Bridge. Besides that, there are four new products that are in development at the moment:

  • First is focused on enhancement of UX (to be released in Q2 2022)
  • Second is the platform for allocation of community treasury funds to the projects – Jet (please see the relevant discussion)
  • Third is focused on the scalability of Aurora network (beta release in Q3 2022)
  • Fourth is a platform for the governance of Aurora protocol (see proposal here)

Every single project from 6 mentioned above might be structured as a separate business, though countless symbiotic links in between them stimulate to keep things under one roof.

Following the success of the Aurora ecosystem and the necessity to scale up and deliver more products, Aurora Labs is requesting an allocation of the budget to continue development of the pieces of the Aurora protocol.

We propose to allocate 30M AURORA tokens to Aurora BVI entity, who will manage the private sale, proceedings of which should go to Aurora Labs. The target parameters of the round:

  • Net round size: $100M-$200M
  • Sale structure: 2y and 3y linearly unlocked token with 1y cliff without ability to stake AURORA
  • Price: 7 days time-weighted average price with a discount

By the nature of the private sales, terms will depend on the market appetite for the AURORA tokens and may result in slight variation of the terms and conditions.

Aurora Labs will provide the reports on the round and the usage of proceedings on a yearly basis on this forum.