After broadcasting on the Polkadot mainnet this week, Acala Network announced a project that will be launched in the near future.
Some of the Acala products that will hit the market include:
Decentralized exchange (DEX), Acala Swap
Updates to Ethereum Virtual Machine (EVM+)
Decentralized stablecoins, aUSD and LDOT
In parallel with its launch, Acala Network has also inaugurated a liaison infrastructure that scales a multi-chain ecosystem that extends beyond the Polkadot chain and Acala's staking function.
So far, there are 15 ecosystems interested in anchoring the Acala Network.
One of them is Tapio and Taiga – a synthetic asset protocol that offers stable exchange of assets such as DOT/LDOT, aUSD/USDT, and interBTC/RenBTC,
Acala Network Details
Won the first session of the Polkadot parachain auction via DOT investment worth over $1.3 billion donated by approximately 81,000 supporters worldwide.
The full rollout of this series will be carried out in phases:
First phase
Allows users to send and receive ACAs.
Participate in project management.
Acala has launched over $600 million Liquid Crowdload DOT (LCDOT) in locked value (TVL) amounts.
Has more than 200,000 unique token holders worldwide.
Has the support of some of the world's great seafarers:
Coinbase Ventures
Arrington
Polychain
Pantera
DCG
ParaFi
CoinFund
Goldentree
TQ
According to Acala's lead development (CGO) Dan Reecer: “This series was built around the HyFi (hybrid finance) vision of connecting the fintech world of Web2 and neobanks (digital banks) with a DeFi presence without the need for MetaMack or private keys.”
At the time of writing, its native token – ACA was trading at $1.56 (RM6.55), down nearly 7% in 24 hours.
