The first parachain to win an auction slot on Polkadot, Acala, brings Hybrid Finance (HyFi) and Layer-1 chain customization to Polkadot Ecosystem.

The project team said that it plans to launch all of its core products shortly. These include decentralized exchange (DEX) Acala Swap, upgraded Ethereum Virtual Machine (EVM+), decentralized stablecoin, aUSD, and LDOT.

This DeFi project also has other new products that will go live with its official launch on Polkadot Mainnet. Notably, one of them is a critical bridging infrastructure aiming to scale the multi-chain ecosystem beyond the Polkadot network and Acala staking.

Tapio and Tiaga, two projects that have stable swaps for uniform assets like DOT/LDOT, aUSD/USDT, and interBTC/RenBTC, are ready to launch on Acala. Besides, over 15 other projects will also launch on this platform soon.

Alaca has launched on Polkadot on January 26, Acala’s Chief Growth Officer Dan Reecer told about this important event: “Acala is building toward a HyFi vision or Hybrid Finance, that is bridging the worlds of Web2 fintech and neobanks with DeFi to bring improved yield and financial outcomes to non-crypto users without them having to touch any complex crypto tech like MetaMask or private keys.”

In November, Acala won the Polkadot parachain auction with a community contribution of Polkadot’s DOT token worth over $1.27 billion. 81,000 eager supporters around the world have contributed to this winning. Furthermore, this DeFi project also has many notable investors in the crypto industry, including Coinbase Ventures, Arrington, Polychain, Pantera, DCG, ParaFi, CoinFund, Goldentree, etc.

Acala has launched over $500 million in total value locked (TVL) in Liquid Crowdload DOT (LCDOT) tokens from day 1 and has more than 200,000 token holders globally.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Acala

Polkadot

Author

Victor

Related Posts

• Immutable SEC Wells Notice Raises Concerns Over Crypto Clarity
• Starknet v0.13.3 Is Expected To Be Launched Mainnet This Week
• ACT Holdings Fully Distributed, Destroyed, or Sold by Developers
• Hacker Group BlueNoroff Attacks Crypto Firms Using MacOS Devices Since 2023
• BounceBit Launches CeDeFi V2 Platform with Multi-Chain Support and Enhanced Features
• Coinbase Listing Roadmap Adds Floki Sends Token Soaring Over 25%
• Google Cloud ZetaChain Collaboration Secures Web3 Universal Apps
• Singapore Gulf Bank Offers First Crypto Corporate Banking in Bahrain

News

Acala Revealed Some Core Products Which Will Release Following Its Official Launch On Polkadot In 2022

The first parachain to win an auction slot on Polkadot, Acala, brings Hybrid Finance (HyFi) and Layer-1 chain customization to Polkadot Ecosystem.

The project team said that it plans to launch all of its core products shortly. These include decentralized exchange (DEX) Acala Swap, upgraded Ethereum Virtual Machine (EVM+), decentralized stablecoin, aUSD, and LDOT.

This DeFi project also has other new products that will go live with its official launch on Polkadot Mainnet. Notably, one of them is a critical bridging infrastructure aiming to scale the multi-chain ecosystem beyond the Polkadot network and Acala staking.

Tapio and Tiaga, two projects that have stable swaps for uniform assets like DOT/LDOT, aUSD/USDT, and interBTC/RenBTC, are ready to launch on Acala. Besides, over 15 other projects will also launch on this platform soon.

Alaca has launched on Polkadot on January 26, Acala’s Chief Growth Officer Dan Reecer told about this important event: “Acala is building toward a HyFi vision or Hybrid Finance, that is bridging the worlds of Web2 fintech and neobanks with DeFi to bring improved yield and financial outcomes to non-crypto users without them having to touch any complex crypto tech like MetaMask or private keys.”

2. Acala is building toward a HyFi vision, or Hybrid Finance, that is bridging the worlds of Web2 fintech and neobanks with DeFi to bring improved yield and financial outcomes to non-crypto users without them having to touch any complex crypto tech like MetaMask or private keys. pic.twitter.com/KPzZMULGXM

— Dan Reecer (@danreecer_) January 25, 2022

In November, Acala won the Polkadot parachain auction with a community contribution of Polkadot’s DOT token worth over $1.27 billion. 81,000 eager supporters around the world have contributed to this winning. Furthermore, this DeFi project also has many notable investors in the crypto industry, including Coinbase Ventures, Arrington, Polychain, Pantera, DCG, ParaFi, CoinFund, Goldentree, etc.

Acala has launched over $500 million in total value locked (TVL) in Liquid Crowdload DOT (LCDOT) tokens from day 1 and has more than 200,000 token holders globally.

3. @AcalaNetwork is launching with ~$500M in total value locked on the network from day 1 (give or take $100M depending on the day recently ????), driven by the Liquid Crowdloan DOT (LCDOT) product the Acala team built to solve a major challenge for users.

— Dan Reecer (@danreecer_) January 25, 2022

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Other Posts

Related Posts

[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]