First I’d like to thank everyone that dropped by and supported my recent podcast episode with @Alex - by far the most popular podcast to date
I’m dropping by becuse I believe Aurora is one of the best EVM solutions our there (if not THE best) and we need to do more to get the attention of Solidity developers and EVM based projects.
I personally dislike the meme coin extravaganza, but I believe we can use this momentum to give visibility to the Aurora tech stack and make people realise what they could build with an affordable, scalable and user friendly EVM.
I have two ideas I’d like to get feedback on and, potentially, recruit an army to help execute.
Bridge Memecoins to Aurora
First idea is to bridge memecoins to Aurora. The most painful painpoint from Ethereum is exorbitant gas prices. The basic idea would be to:
1. Bridge Memecoins to Aurora
- Q: what is required from Rainbow Bridge team to do this?
- Objective here is to move fast and: show off the rainbow bridge, get people bridging assets to Aurora.
- To do: think of the entire user flow onboarding - get people to sign up for Aurora Plus for free txs
- To do: think of all the marketing collateral needed such as How To guides on using Rainbow Bridge, Eth as base currency, how to access free txs, etc.
2. Setup liquidity pools on core platforms such as HOLDR, Trisolaris, etc.
We have to be strategic here. There are several possibilities:
- HOLDR is a Balancer friendly fork, so would be familiar to most ETH users. It also has weighed pools so we can have 80% meme coin, 20% (USDC, stNEAR).
- A BIG assumption here is that as the market is volatile, there would be arbitrage opportunities (buy cheaper in Aurora, sell in ETH or vice versa). While this may seem like a loss to liquidity providers, it should be seen as the cost of a Marketing and Activation Campaign. People follow money, if anything gets them to bridge over is the ability t make a few extra bucks.
- Due to this ‘cost’ (arbitrage, impermanent loss) I would suggest creating a formal proposal to seed those pools with Aurora, I would even go as far as having a proposal to NEAR Marketing DAO to also add NEAR to those pools (HOLDR pools can have multiple assets).
3. Other considerations
- Markets move FAST. We can’t be chasing old, dead coins that have already pumped, dumped and died. We have to be keen observers of culture and momentum and MOVE FAST.
- Ensure that every community on NEAR and Aurora are able to amplify the opportunity.
The second idea is the one that I am most excited about, even though it may be less sexy.
The aim is to use the memecoin momentum to bring attention to the Aurora Cloud capabilities.
1. Deploy an experimental Aurora Silo
I would personally love to see a Shitzu Chain Silo, kinda similar to the experimental Chihuahua on Cosmos. Shitzu community seems pretty active. Not sure about their technical capability but if anyone is able to pull off an experimental Silo it would probably be them.
2. Stress Test the Shit out of the Silo
Inspired by the custom Testnet we set up in NEAR for Stake Wars III, the core purpose of setting up an experimental memecoin Silo would be to put the Aurora Silo capabilities to the test by replicating every meme coin transaction that has happened on Ethereum.
The precise technical workings go beyond my depth, but I imagine it would be something like:
- Choosing coins to track
- Downloading all the tx from ethereal indexer
- Setting up an army of bots, each controlling an Aurora (Silo) account that mirrors 1-1 the behaviour of a real account on Ethereum. This would include the accounts that deploy initial smart contract, every buy-sell, etc.
This is the reason why I’m proposing a separate, experimental Silo. We can mint from scratch all the assets needed - including ‘testing’ USDC, ETH, etc. and have it go bonkers.
- Community deployment of an Aurora Silo
- Team of technical contributors (mix between community and protocol) create the environment to emulate all meme coin trading and activity and battle test the network.
- We create enormous amounts of collateral: several strong marketing narratives such as - what Aurora Silos are and how anyone can deploy them, performance stats between Eth and Aurora with the same load of activity (compare every metric, including tx costs to user - highlight Aurora Plus, Borealis - NEAR burned by relayers, etc.)
Looking forward to getting community input on these ideas. It’s time to triple down or go home.