Gibraltar, GI, June 30th, 2023
Aurora Labs is proud to announce the launch of Borealis Business, a groundbreaking service designed to address one of the most significant challenges faced by Web3 businesses – transaction fees. With Borealis Business, Aurora aims to provide a seamless solution to hide transaction fees complexities from users and empower businesses to explore new business models!
What is Borealis Business?
Traditional businesses seeking to tap into the Web3 market often face significant challenges, including navigating intricate layers between users and platforms. In response to these obstacles, Aurora has developed Borealis Business as a solution that revolutionizes transaction cost management and enhances accessibility to the Web3 ecosystem!
Borealis Business is a transaction processing and accounting service offered through Aurora Cloud, allowing businesses to manage transaction fees efficiently while maintaining full control over their costs. By leveraging the Rule Engine at the core of Borealis Business, businesses can transfer transaction costs to third parties, such as decentralized applications (dApps), ensuring a frictionless experience for their users.
What Does Borealis Business Offer?
Borealis Business offers several key benefits, including: User-friendly Experience: Users of Web3 applications can enjoy a seamless transaction experience without bearing the burden of transaction costs.
Customization and Flexibility: Businesses can tailor their deals based on their specific needs, whether it's integrating free transactions into their business models or creating one-time plans for marketing and product campaigns.
Cost Management: Borealis Business empowers businesses to efficiently manage transaction costs and hide the complexities of fees from their users.
How Does it Work?
Aurora's Borealis Business works by using a relaying architecture that separates the origination and payment of transactions. The Rule Engine oversees this process and allows businesses to transfer transaction costs to a third party, typically a decentralized app (dApp), that covers the fees for its users. This relieves users from paying transaction fees creating a smoother experience.
Companies can establish Customer Deals through the Rule Engine by setting specific rules for who should pay for a transaction and under what conditions.This enables businesses to offer region-specific or time-bound promotions, such as providing free transactions to European customers all the time and extending the offer to customers from other regions only on weekends. With Borealis Business, companies can implement any set up they want and translate any terms and conditions to allocate transaction costs as they see fit!
To learn more about the inner workings of Borealis Business we invite you to read our complete introduction to Borealis Business.
Getting started with Borealis Business is extremely easy! Simply schedule a call with our experienced Aurora Labs team that will help you create a customized plan tailored to your specific needs. Together, we will formulate clear and specific terms and conditions that will be seamlessly translated into rules within the Rule Engine by our team, and once your plan is established you’ll be done!
Join Borealis Business today and unlock a world of possibilities for your Web3 applications and explore our comprehensive Aurora Cloud stack to discover the array of tools that can complement your needs!
Powered by its high-performance EVM, and fully trustless Rainbow Bridge, Aurora combines an Ethereum compatible experience with the modern blockchain performance of NEAR Protocol. Aurora provides an optimal environment for the creation of scalable, carbon-neutral, future-safe, and low-cost Web3 services, as well as the perfect tools to bring to life your Web3 initiatives. Try Aurora Cloud, our all-in-one blockchain solution for enterprises, and get your Web3 journey started!
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