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Friday, September 17, 2021

Acala Network Ico Review: The DeFi Hub of Polkadot

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About Acala Network

Acala Network is the all-in-one DeFi hub of Polkadot. Acala is an Ethereum-compatible platform for financial applications to use smart contracts or built-in protocols with out-of-the-box cross-chain capabilities and robust security. The platform also offers a suite of financial applications including: a trustless staking derivative (liquid DOT), a multi-collateralized stablecoin backed by cross-chain assets (aUSD), and an AMM DEX – all with micro gas fees that can be paid in any token.

Acala is an all-in-one decentralized finance network offering a blockchain platform secured by Polkadot, as well as a suite of cross-chain financial applications that let users trade on Acala Swap, issue self-serviced loans with the Acala Dollar stablecoin (aUSD), become liquidity providers, access staking derivatives with Liquid DOT staking (LDOT), and earn high-interest APY on their digital assets. The network is scalable, Ethereum-compatible, and optimized for DeFi.

The network will also be bridged to Ethereum, Bitcoin, and other networks such as Compound Gateway, for which Acala received an inaugural grant from Compound. Acala is building hybrid crypto and fintech products with US fintech company, Current, to bring DeFi yield to Current’s three million U.S customers. You can try Acala’s Apps on testnet today.

ICODETAILS
Company NameMultigame
Token SymbolMULTI 
Pre-sale priceDOT 0.016
Min/Max personal Cap30 DOT / 50 DOT
Total Supply1,000,000,000
Circulating SupplyACA 47,100,000
Support24/7
LanguageEnglish
Social SupportYes
WebsiteHomepage

Acala was founded

Acala was founded in Oct 2019, and today has received five Web3 Foundation grants, has backing from Coinbase Ventures, Pantera Capital, Polychain Capital, and other top firms, and has a distributed team in New Zealand, China, Europe, South America, and the United States.

Stable Currency

Multiple-asset-backed decentralized digital currency without volatility. Stable by design, aUSD enables borderless and low-cost value transfer globally across all connected blockchains.

Staking Liquidity

Release staked assets (DOTs) as fungible & liquid assets (L-DOTs), extracting the derivative value of staked assets to fuel DeFi without sacrificing the security of the whole network.

Powered by Polkadot

Acala Network is secured under Polkadot’s shared security model, ensuring high resilience and forkless upgradability.

Influence by Ownership

A decentralized network governed entirely by Acala Network Token (ACA) holders to achieve a transparent future: a future based on more truth and less trust.

Acala Apps

Borrow

Borrow aUSD and manage outstanding loans.

Earn

Earn interest on aUSD.

Trade

Trade tokens on Decentralized Exchange.

Govern

Participate in governance by ACA holders.

Token Economy

This paper outlines key utilities of the ACA tokens, its distribution model to support continuous R&D and gradual decentralization, and explores economic models to participate in parachain auctions over multiple periods under varied circumstances.

Decentralized Sovereign Wealth Fund (dSWF)

This paper proposes a self-sustaining economic model for the era of connected digital jurisdictions – a dSWF to hold foreign cryptocurrency reserve with value, yield & utility, to secure a parachain on for itself & others, R&D for generations to come, all on behalf of & governed by token holders.

Acala Whitepaper

This paper introduces and elaborates on two decentralized protocols that enable cross-chain financial stability and liquidity on the Polkadot network – the Honzon Stablecoin Protocol and the Homa Tokenized Staking Liquidity Protocol.

Get Involved

Consortium

Become a member of the Acala Network, jointly govern and develop an open, transparent and stable financial platform.

Integrations

Collaborate and build with Acala members, integrate Acala stablecoin into your products and services.

Backers

Talk to us about backing the Acala, Laminar, and Polkawallet portfolio.

Ecosystem Projects

This program identifies, engages and supports projects that are using and integrating with Acala’s technologies (aUSD stablecoin, L-DOT staking liquidity, Decentralized Exchange etc). Ecosystem projects will have opportunities for technical and marketing collaborations and beyond.

Meet Team

Robin Whitney

Community/Growth Manager

Kenneth

Advisor

Hutch

Advisor/Contributor

Chloe

UI Designer

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