Interesting facts about the Acala project Parachain Auction Crowdloan

Polkadot’s Parachain auctions will officially take place on November 11th, which means the community will be able to participate in Crowdloan Rounds, an event where the community will contribute DOT to support the network in exchange for their share. The reward is the project’s token.

One of the most prominent projects in the upcoming Parachain auction, Acala has announced that it will be the winner at Slot 1, as has their Karura canary network at the Kusama auction a few months ago. Here are the top crowdloan details to keep an eye on.

What is Acala Crowdoan?

Before you learn Acala Crowdloan, let’s start with Acala Network. It is an Ethereum compatible smart contract platform optimized for DeFi and extending DApps to Polkadot. Blockchain has built-in DeFi protocols that application developers can leverage. Acala was founded in October 2019 and has received multiple financings from the Web3 Foundation, Coinbase Ventures, Pantera Capital, Polychain Capital, Digital Currency Group, Arrington XRP Capital, and other leading mutual funds.

Suspending DOT for 2 years gives backers Acala (ACA) tokens that are distributed based on the amount of DOT you suspend.

According to the announcement, after Acala wins the Parachain position, the network will be officially launched and the DeFi platform will be born. After 2 years, the smart contract opens the safe and automatically returns the DOT to the owner of the wallet. All participants receive an initial DOT number along with their ACA awards.

Acala’s reward

• ACA Crowdloan total rewards: 17% of the ACA offer (17,000,000 ACA): 15% basic bonus + 2% bonus
• Complete offer ACA: 1,000,000,000 ACA.
• Blocking time: 96 weeks (approx. 2 years).
• Acala. Parachain location auction lot: Acala is bidding for a place in the # 1 auction with the aim of getting the # 1 place.
• Reward distribution: 100% ACA will be distributed to the users after the network start and the activation of the token transfer.
• 20% ACA are liquid and transferable.
• How to calculate the reward: (Your DOT contribution / total DOT contribution to Acala) * 170,000,000 ACA

Users can also refer to other ways to earn more rewards from Referral Bonuses, Acala Quests, Karura Crowdloan Rewards, and NFT Rewards for all Acala Crowdloan participants.

There are also four ways to get involved:

• Option 1: Traditional crowd loan

Donate using the traditional crowdfunding method through DOT contributions that are blocked for 96 weeks (approx. 2 years).

• Option 2: Liquid Crowdloan

Donate to Acala Liquid Crowdloan Vault to maintain ongoing access to the liquidity of the crowdfunded DOT. This option does not have a liquidity lock-up period. You will receive 1 LCDOT for every DOT contributed. Your DOT contribution can only be redeemed at the end of the 96-week Parachain position leasing for LCDOT. You can buy, sell and trade LCDOT anytime without being locked out.

• Option 3: On exchanges

The currently supported exchanges are Kraken, Binance, OKEx, Kucoin, Huobi, Newland. However, if you choose to go this route, you will not be eligible for any bonuses. The other two options will continue to receive normal rewards.

• Option 4: decentralized wallet

Currently supported wallets are Polkawallet, Talisman, Math, Nova, Fearless. If you choose this way you will still be eligible for all bonuses.

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