Acala update: ACA Live price, price chart, news and markets

The ACA price update as of now is $0.08865. In the previous 24 hours, its trading volume was $7,252,408, and its value has decreased by -2.10%. As of now, ACA's live market cap is $100,949,135, and it is ranked as the #416 on the Coincu. ACA has a circulating supply of 1,000,000,000 and a maximum supply of 1,000,000,000.

Introducing Acala (ACA) Acala Network is a Layer-1 Smart Contracts Platform that ensures compatibility with the Ethereum network and delivers scalability. It prioritizes the optimization of DeFi with adequate liquidity support. Unlock a wide range of financial applications with Acala, which is powered by Substrate and designed to work seamlessly with Ethereum. Developers have complete control over their decentralized applications (dApps) through the platform's robust calculation features. Acala inherits the cross-chain functionality from Substrate and Ethereum, enabling seamless interoperability. The platform's security protocols are optimized to safeguard user information, making it an excellent choice for hosting DeFi Hubs on the Polkadot ecosystem. The Working Mechanism of Acala (ACA) Acala leverages Polkadot's support to host Homa liquidity staking and Honzon stablecoin generation protocols on the Polkadot Parachain. Additionally, it accepts various assets, including yuan, as collateral to mint its stablecoin known as aUSD. Acala operates based on key components such as Parachain Crowdloans, Honzon protocol, Homa protocol, EVM compatibility, and Acala stablecoin. Parachain Crowdloans for Acala Parachain Crowdloans allow Acala to participate in auction sessions for parachain rentals on the Polkadot network. Users can join the auction by depositing tokens into potential projects, with successful bidders receiving corresponding rewards. The Honzon Protocol The Honzon protocol simplifies access to the Acala platform by creating a user-friendly stablecoin through Collateralized Debt Positions (CDPs). It accepts collateral from multiple blockchains, and the stablecoin aUSD is pegged to the USD at a 1:1 ratio. Users can withdraw aUSD by depositing tokens into the network, though they are required to pay an interest charge on the loan. The Homa Protocol The Homa protocol generates liquidity from tokens locked on the Acala network. Unlike conventional Yield-Farming, Homa allows users to earn interest and participate in other activities using their locked tokens. The locked tokens are returned as L-tokens, which can be either used as collateral to mint aUSD or obtained as loans by other users. EVM Compatibility Acala empowers developers to create dApps using Solidity. The minted tokens function similarly to ERC-20 tokens, and cross-chain transactions, including yuan and aUSD, seamlessly integrate with the platform. All on-chain operations on Acala are translated into Substrate code, ensuring compatibility with Polkadot extensions and smooth interaction with price data sources. The Acala Stablecoin The Acala Stablecoin focuses on scaling up and enhancing connectivity with other networks and ecosystems. Backed by Polkadot and Substrate technology, it delivers robust security, cross-chain capabilities, and multi-collateral backing. Acala (ACA) Roadmap For a more detailed insight into the roadmap, please visit the provided link.