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WhyWhatHowTry itGovernanceRead the Proposal
Cardano Treasury proposal

Open infrastructure forinstitutional credit marketson Cardano.

Cardano can settle a loan. Aurora is what makes it findable.

Not a lender. Not a lending protocol. Not a custody platform.

See how it worksRead the Proposal

02The problem

Settlement alone does not make a market.

Without shared standards, every protocol and capital provider rebuilds the same metadata, indexing, and verification work.

WITHOUT SHARED STANDARDSLending impl. ALending impl. BLending impl. CCapital providerApplicationAnalyticsWallet12 bespoke integrations · 12 metadata formatsWITH AURORA — ONE SHARED MARKET LAYERAURORA MARKET LAYERLending impl. ALending impl. BLending impl. CCapital providerApplicationAnalyticsWallet1 metadata standard · 1 query surface · N participants

03What Aurora delivers

Eight open public deliverables.

Aurora is not

  • A lender
  • A lending protocol
  • A loan originator
  • A capital custodian
  • A commercial lending pilot
  • A stablecoin or fiat settlement provider
  • A proprietary capital-allocation product
  • A replacement for underlying lending protocols

04How it works

From one UTxO to a searchable market.

Participant scope

utxo·a1f7…04impl. A
utxo·9c04…b2impl. B
utxo·3be2…7dimpl. C

05Try it

Requirements in, opportunities out.

Toggle any requirement — the profile, the query and the results all update live.

Capital-provider requirements

jurisdiction

duration_max

ticket_min

verification

capital-provider-profile.jsonschema v1

{

"jurisdiction": ["ET", "KE"],

"duration_days": { "max": 180 },

"ticket_size": { "min": 25000 },

"verification": ["institutional"]

}

reference-query.httpopen API

GET /v1/opportunities

?jurisdiction=ET,KE

&duration_max=180

&ticket_min=25000

&verification=institutional

▌

filtered opportunities3 / 8 match
  • utxo·a1f7…04impl. A
    ET120d40kinstitutional
  • utxo·9c04…b2impl. B
    KE90d75kinstitutionaleligibility
  • utxo·3be2…7dimpl. A
    ET180d180kinstitutionaleligibility

Open filtering against published schemas — no ranking, no ordering logic, no allocation. Evaluation stays with the capital provider.

06Open ecosystem

One shared layer, many builders.

Released under Apache 2.0 — usable and extendable without exclusive permission from any single team.

Capital desk toolingPortfolio dashboardsWallet integrationsMarket analyticsFuture applicationsAURORA — METADATA · VERIFICATION · DISCOVERY · OPEN APISAPACHE 2.0 · REUSABLE · INDEPENDENTLY OPERABLELending impl. ALending impl. BFuture implementationsNo exclusive permission required from any single implementation team.

Lending protocols

Attach metadata without touching core lending logic.

Capital providers

Filter against published criteria and internal requirements.

Application builders

Build dashboards, analytics and wallets on open APIs.

Verification providers

Connect proofs without forcing one compliance system.

07Governance

Milestone-gated, with independent custody.

1,000,000ADA≈5months4milestones

Funds sit in an independent 3-of-5 multisig. Implementation contributors hold no signing keys.

  • Fairway — Lead implementer and coordinator
  • Sundial — Capital-provider standards and filtering interoperability
  • Fallen Icarus — Advisor on Cardano's transaction-based credit model
M1

Specifications & Architecture. Core standards and implementation architecture finalized.

Each milestone gates the next. Progress is reported publicly.

Build on shared credit-market infrastructure.

Read the ProposalFollow development

Aurora is infrastructure-only. It does not originate loans, custody capital, allocate funding, perform settlement, or replace compatible lending implementations.