Acala Network is a decentralized platform supporting cross-blockchain applications of open financing (DeFi) on Polkadot and other platforms. The main feature of the project is that the Acala network is protected by the general Polkadot security model.
In fact, Acala Network will become the main financial center of Polkadot and will shift aside all existing DeFi on Ethereum (due to its scalability problem and huge commissions)!
At the moment, the project is in the test network, but the launch of the mainet in the Kusama network will take place very soon, and after that in Polkadot. Unfortunately, the team will not conduct any tokensale or IEO (at the moment such information is available), since the funds were raised through the sale of SAFT contracts as part of the Series A financing round, in which Pantera Capital, Digital Currency Group, 1confirmation, Arrington XRP Capital and Polychain Capital participated.
The Acala team focused on developing various DeFi products, including a decentralized stablecoin called aUSD, a non-custodial exchange and a derivative contract from staking. The creators claim that their Polkadot-based blockchain will eliminate the need to choose between the profitability of staking and the profitability of blocking funds in the DeFi protocol.
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265.709 SRY