(*28*)
Acala Community will quickly pause LDOT minting and redeeming beginning October 28 to align with the upcoming Polkadot Asset Hub migration. Throughout this era, customers can nonetheless swap DOT and LDOT by way of Acala Swap. The platform will challenge an replace as soon as LDOT-related operations are restored.(*28*)
Refer to the (*28*)official tweet by ACA:(*28*) (*28*)
🚧 To coordinate with the upcoming Polkadot Asset Hub migration, LDOT minting & redeeming on Acala will likely be paused beginning Oct 28.(*28*)
🔄 You possibly can nonetheless swap DOT ↔ LDOT on Acala Swap throughout this time.(*28*)
📘 Test migration particulars & standing updates right here:(*28*)
👉 (*28*)https://t.co/tZctoZRZFd…(*28*)
ACA Info
Acala Network is a decentralized finance (DeFi) platform operating on the Polkadot blockchain. The project was specifically developed to provide DeFi functionality within the Polkadot network. The creators of Acala aimed to offer tools for developers and users to create and utilize financial applications.
The main products of Acala include the stable cryptocurrency Acala Dollar (aUSD) and the Acala DEX platform, a decentralized exchange for trading digital assets. The project also provides opportunities for staking and borrowing against collateralized digital assets.
Acala Dollar is a stable cryptocurrency peg to the US dollar. aUSD enables users to participate in DeFi without relying on traditional banking services.
Acala DEX allows users to trade various digital assets supported by the Polkadot network, including aUSD and other digital assets.
ACA is the native token of the Acala Network and is used for various purposes within the ecosystem. ACA holders can participate in network governance by voting on proposals, including changes to the parameters of the aUSD stablecoin, asset listings, fee structures, and protocol upgrades. ACA can also be staked to secure the Acala network, generating additional income for token holders. The token is used to pay transaction fees and interact within the Acala network. Additionally, ACA can be used as collateral to mint the stable cryptocurrency aUSD. In case collateral positions are insufficient, ACA is utilized to cover the deficit.
