Acala is a decentralized finance network that offers aUSD, a multi-collateral, crypto-backed stablecoin designed for the Polkadot ecosystem. Its Ethereum-compatible blockchain provides essential DeFi protocols, enabling developers to create applications with features like trustless staking derivatives and decentralized exchanges.
Funding
$8.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
DeFi users in the Polkadot ecosystem lack a unified liquidity layer, leading to fragmented liquidity across various blockchain layers and hindering the efficient use of digital assets. This makes it difficult for developers to build financial applications that can seamlessly access and manage liquidity across different chains.
Solution
Acala provides a liquidity layer for decentralized finance, enabling a unified liquidity experience across multiple blockchain layers. As an application-specific blockchain (appchain), Acala offers built-in tools such as a Universal Asset Hub that hosts DOT liquid staking token (LST) protocols, a decentralized exchange (DEX), DOT liquid staking, and a multichain asset router bridge. The platform is EVM-compatible, allowing developers to leverage existing Solidity code and build customizable financial applications using Substrate. Acala's technology supports Layer 1, 2, 3, 4, and 0 blockchains, ensuring multichain compatibility and efficient liquidity management.
Target Audience
Acala targets DeFi developers, financial institutions, and users within the Polkadot ecosystem seeking a unified liquidity solution for building and utilizing decentralized financial applications.
Features
- Universal Asset Hub for hosting DOT liquid staking token (LST) protocols
- Decentralized exchange (DEX) for seamless asset swapping
- DOT liquid staking for earning rewards on staked DOT
- Multichain asset router bridge for cross-chain asset transfers
- EVM+ compatibility, enabling developers to build with Solidity in a fully Ethereum-compatible environment with Substrate compatibility
- Governance through ACA token staking, allowing the community to vote on proposals and drive development
- Open-source contributions to the Polkadot parachain ecosystem
- Continuous auditing from top auditing firms