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TURBO, the popular memecoin created with a ChatGPT prompt, has partnered with Aurora Labs and NEAR Protocol to launch a native blockchain platform of its own, called TurboChain, along with a portal called TurboSwap that makes it easier to buy and sell the cryptocurrency.
TurboChain was developed in order to kick start the development of a vibrant ecosystem of DeFi, games and NFTs around the TURBO token, grow its utility and expand its already vibrant community. The new network was created using the Aurora Cloud Virtual Chain infrastructure, and it’s said to support rapid, low-cost transaction speeds and provide unmatched scale, laying the foundation for developers to get started building a variety of decentralized applications with TURBO at their heart. It’s cross-chain compatible with dozens of well-known blockchains, including Ethereum and NEAR.
Aurora Cloud is an innovative platform that makes it possible for memecoin communities and others to quickly deploy their own blockchains, without any kind of coding skills required. The idea behind Aurora Cloud is that building a blockchain should be as easy as creating a Shopify store, and so the only thing that’s needed is to have an idea. After entering a few basic parameters, Aurora will spin up and deploy a brand new blockchain, either for an existing or brand new cryptocurrency.
Every Aurora Virtual Chain boasts the same fast transaction speeds and dramatic scalability of TurboChain, enabling it to handle enormous transaction volumes and host a full-blown ecosystem of decentralized applications.
With TurboChain, the TURBO token takes a prominent role as the currency for all transaction fees. By launching its own decentralized network, the TURBO token is setting the stage for a new era of growth, and the community has high hopes that it will expand well beyond its current $698 million market cap.
To reinforce those efforts, TURBO is getting its very own simple swap mechanism called TurboSwap, which is accessible now and supports simple, low-cost, instant swaps between TURBO and cryptocurrencies like BTC, NEAR, ETH, USDT, AURORA, PEPE, AAVE, SOL and DOGE. Aurora is perhaps being a tad overly dramatic with its claims that it “redefines the decentralized trading experience”, but the availability of TurboSwap will certainly make the TURBO token more accessible, beyond the 115 or so crypto exchanges that already support it.
The launch of TurboChain and TurboSwap highlight the incredible ease in which anyone can use Aurora’s tools to quickly spin up their own blockchain to host an ecosystem around any crypto token. With this showcase, Aurora’s CEO Alex Shevchenko hopes it will inspire many other crypto communities to do the same. He has set an ambitious target of launching more than 1,000 new blockchains in 2025.
“TurboChain and TurboSwap show the power of Aurora Virtual Chains,” Shevchenko said. “They can turn ideas into scalable blockchain ecosystems.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
