Acala will host an AMA on X on January 29th at 14:00 UTC.
ACA Information
Acala Community is a decentralized finance (DeFi) platform working on the Polkadot blockchain. The challenge was particularly developed to present DeFi performance inside the Polkadot community. The creators of Acala aimed to supply instruments for builders and customers to create and make the most of monetary purposes.
The primary merchandise of Acala embrace the steady cryptocurrency Acala Greenback (aUSD) and the Acala DEX platform, a decentralized trade for buying and selling digital belongings. The challenge additionally offers alternatives for staking and borrowing towards collateralized digital belongings.
Acala Greenback is a steady cryptocurrency peg to the US greenback. aUSD permits customers to take part in DeFi with out relying on conventional banking companies.
Acala DEX permits customers to commerce varied digital belongings supported by the Polkadot community, together with aUSD and different digital belongings.
ACA is the native token of the Acala Community and is used for varied functions inside the ecosystem. ACA holders can take part in community governance by voting on proposals, together with adjustments to the parameters of the aUSD stablecoin, asset listings, payment constructions, and protocol upgrades. ACA can be staked to safe the Acala community, producing further earnings for token holders. The token is used to pay transaction charges and work together inside the Acala community. Moreover, ACA can be utilized as collateral to mint the steady cryptocurrency aUSD. In case collateral positions are inadequate, ACA is utilized to cowl the deficit.
