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logoAcala (ACA)

An EVM-Compatible DeFi Platform on Polkadot.
  • Acala network is an Ethereum Virtual Machine (EVM)-compatible DeFi smart contract platform which operates as a Polkadot parachain. The platform offers users various features which include DOT Liquid Staking (LDOT), decentralized Acala dollar stablecoin (aUSD), and an AMM DEX.
  • ACA is the utility and governance token of Acala, used for the following use cases:
    • Transaction Fees: Users will require ACA tokens to pay for gas fees and execute smart contracts.
    • Governance: Enables ACA token holders to nominate council members and participate in voting on the network.
    • Liquidity mining: Provide liquidity to the platform's LPs to earn a portion of the exchange fees.
    • Network Staking: Users can stake ACA to become a validator or delegate to participate in the network consensus, and in return are rewarded with ACA.
    • Minting stablecoins: Provide ACA as collateral to mint Acala stablecoins (aUSD).
  • Acala consists of the following major components working in conjunction:
    • Polkadot: Polkadot facilitates cross-chain communication and interoperability by connecting multiple blockchains into one unified network. Acala is the Polkadot ecosystem version of Karura (KAR) in the Kusama ecosystem.
    • Parachains: Parachains are independent blockchains (Shards) that are able to connect to Polkadot.
    • Crowdloans: It is a method for projects to fundraise for a parachain slot on the Polkadot network. Users temporarily lock their DOT in exchange for a reward from the project team, often in the form of the project's native tokens.
    • Slot Auctions: For projects to operate as a parachain on Polkadot, they would have to win a slot in the parachain auction. Moonbeam won the first slot auction via a crowdloan, thus securing a Polkdaot parachain for 96 weeks.
  • The project raised ~33MM DOT tokens from over ~25K contributors in the Acala crowdloan for the Polkadot parachain slot auction.
  • As at January 25th 2022, the total token supply of ACA is 1,000,000,000, and the circulating supply upon listing will be 69,304,481 (~6.93% of the total token supply).
  • Learn more about the token distribution of ACA here.