Aurigami Review: Is Its Aurora Lending Market for You?

Aurigami is a lending and borrowing protocol on Aurora. You can supply supported crypto assets to a pool and earn interest, or deposit an accepted asset as collateral to borrow another asset. The site names USDC, USDT, ETH, WNEAR, WBTC and STNEAR among its top-listed assets, but check the app before acting because pool availability and conditions can change.

Borrowing is overcollateralized: you need to deposit collateral before taking a loan. Your ability to borrow depends on the collateral and market rules, and the value of your position can change as token prices move. The site also promotes PLY LP staking, but its banner does not give a specific APR. Treat any displayed rate or reward as variable, not guaranteed, and confirm the details in the app before supplying funds.

Supplying assets may earn interest, while borrowers pay interest on what they borrow. In lending markets, those rates can change with pool utilization, so the APY shown when you enter a pool may not persist. Aurigami does not publish its protocol fee schedule in the site text, and it does not give a fixed supply or borrowing rate there. Check the current app figures and any pool-specific terms before confirming a transaction.

You also need to account for Aurora network transaction costs when supplying, borrowing, repaying or withdrawing. If you borrow against collateral, a sharp price move or a change in your position can put it at risk of liquidation. Review the collateral factor, liquidation threshold and any liquidation penalty shown for your chosen market; do not rely on a general APY figure to judge the total cost or risk.

Aurigami describes its market as noncustodial, meaning users interact with smart contracts rather than handing assets to a conventional account-based lender. That reduces reliance on a custodian but does not remove the risks of contract bugs, faulty price feeds, market stress or liquidation. You should only deposit funds you can afford to lose.

Aurigami lists two audits and names Watchpug in its security section. It does not give audit report findings in the site text, so review the reports themselves rather than treating the audit count as a safety guarantee. The site also promotes continuous security measures and a bug bounty of up to $500,000, and claims the protocol has had $0 bad debt. These are project claims, not proof that future losses cannot occur. The team and licensing details are not published in the site text.

To use Aurigami, you need a wallet that can connect to Aurora and assets supported by the market. The site does not specify a wallet list or publish transaction speed expectations, so check your wallet’s network settings and the app’s connection options before moving funds. Make sure you are on the official Aurigami app and the correct network; crypto transactions are generally difficult or impossible to reverse.

Start by checking the asset’s pool, supply rate and whether it can be used as collateral. If borrowing, review your borrowing limit and liquidation conditions before taking a loan, and leave a buffer rather than borrowing up to the maximum. The site promotes a real-time risk-management dashboard, which may help you monitor positions. No mobile-app details are published, so expect to use a compatible wallet and the web app unless the project confirms otherwise.

Aurigami is only a fit if you are comfortable using Aurora and managing DeFi positions yourself. Its rates are variable, fee information is limited, and using collateral creates liquidation risk. A noncustodial setup also means you are responsible for wallet security and for checking every transaction before signing. If you need predictable interest, clear published fees or a customer-support-led recovery process, a conventional service may suit you better.

The site does not publish detailed information about its team or licence. Its PLY LP staking promotion does not show a specific APR in the page text, so do not assume a particular reward. Before depositing, read the pool terms and audit reports, verify the current rates and supported assets, and consider testing the process with a small amount. Never treat a dashboard rate or security claim as a guarantee of returns or protection from loss.