The puzzle was answered when Acala Network won a parachain slot hosted by the Polkadot network (DOT).
The decision was announced by Acala itself via an official tweet last night:
With over 32M DOT contributed by over 81,000 community members, Acala has won the first parachain auction on @Polkadot!
Thank you to everyone who took part in this historic event. (1/3) pic.twitter.com/CL2jCwA9Re
- Acala - DeFi Hub of Polkadot (@AcalaNetwork) November 18, 2021
Out of more than 81,000 investors, Acala managed to raise 32.5 million DOTs worth RM5.3 billion in one initial coin offering (ICO).
This means, the DOT has been locked for the duration of the parachain rental. Based on that amount, Acala will distribute a total of 105,893,309.1 ACA tokens to its investor community.
While a total of 24,116,159.8 LCDOT tokens, liquid tokens representing locked DOTs will be handed over to crowdloan participants for use on the Acala Network.
The protocol will begin operations in Polkadot on December 17, with the first five projects also garnering victories.
According to Acala vice president Dan Reecer, there are several projects to be launched in 2022:
Launch of Liquid DOT (LDOT) staking products
Stablecoin decentralized
Decentralized exchange (DEX) with the concept of AMM
Growth of Ethereum Virtual Machine+ (EVM+) technology
Meanwhile, a second Polkadot parachain auction is underway but Moonbeam was picked as the current winner after successfully reaching 5 million transactions. Moonbeam became the leading parachain in Kusama.
