Monday, August 15, 2022

Acala wins first Polkadot parachain auction with over 32M DOT staked By Cointelegraph

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On Thursday morning, Acala, a decentralized finance (DeFi) protocol working on the (DOT) community, introduced it had gained the first-ever Polkadot parachain auction.

Acala raised a complete of 32.5 million DOT, price roughly $1.28 billion, from 24,934 contributors by way of an preliminary coin providing (ICO) structured as a crowdloan. Because the proceeds are categorised as ‘crypto debt,’ Acala would ultimately have to pay again the DOT it had solicited from traders. Customers’ DOT are locked at some point of the rental settlement for Polkadot’s parallel chains up on the market.