News

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

Acala Revealed Some Core Products Which Will Release Following Its Official Launch On Polkadot In 2022 3

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.

Acala Revealed Some Core Products Which Will Release Following Its Official Launch On Polkadot In 2022 4

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

Victor

Recent Posts

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

18 mins ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

18 mins ago

Dtec Announces Global Partnership with DİZAYNVIP to Elevate AI-Driven Mobility Design  

Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…

1 hour ago

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

5 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

8 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

10 hours ago

This website uses cookies.