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  • ACA Acala

    $0.089

    -7.03%

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    Frequently Asked Questions

    • Acala Overview

      Acala is a decentralized finance (DeFi) platform built on the Polkadot network, offering a cross-chain stablecoin platform and DeFi hub. It provides various financial applications within a secure and interoperable environment.

      Key Features and Use Cases

      • Stablecoin Issuance: Users can mint aUSD, a decentralized stablecoin, by collateralizing assets.
      • Lending and Borrowing: Acala provides a platform for secure and efficient lending and borrowing, enabling users to earn interest or borrow assets against their collateral.
      • Decentralized Exchange: A built-in DEX allows for seamless asset trading within the ecosystem.
      • Cross-Chain Compatibility: Acala operates across multiple blockchains, enhancing interoperability.
      • Governance: Community-driven governance allows token holders to participate in decision-making processes and propose changes to the platform.

      Tokenomics

      • Acala Token (ACA): The utility token within the Acala ecosystem, used for transaction fees, node incentivization, governance, and algorithmic risk adjustment.
      • aUSD Stablecoin: A decentralized stablecoin issued by Acala, providing stability and liquidity within the ecosystem.

      Ecosystem Applications

      • Liquid Staking Solution: Acala offers liquid staking solutions like LDOT, enhancing asset utility and user engagement.
      • Liquidity Distribution Platform: Acala facilitates seamless interactions across various blockchains and applications, making diverse assets available for institutions, projects, and individual users.
      Last Updated: 12/6/2024 02:09 UTC
    • Pros of Acala

      • Low Gas Fees: Acala offers minimal gas fees compared to other networks, making transactions more affordable. It uses Polkadot's weight-based fee model, which allows for lower costs without significant price fluctuations.
      • Flexible Fee Options: Users can pay gas fees with a variety of tokens, including USDT, USDC, aUSD, DOT, BTC, ETH, and others, enhancing transaction ease.
      • Customizable and Upgradeable: Acala's platform can be optimized for any DeFi project and upgraded without forks, allowing for continuous feature updates and integration of new developers.
      • Interoperability: Acala supports cross-chain assets and allows users to mint aUSD stablecoins using collateral from Polkadot-connected parachains, unlocking the liquidity of staked DOT tokens.
      • Ethereum Compatibility: Acala's EVM+ supports Ethereum smart contracts, making it easier for developers to transition and leverage the liquidity of the Acala DEX.

      Cons of Acala

      • Lack of Staking Rewards: The supply of ACA tokens is fixed and completely minted out at its genesis block, meaning there are no staking rewards through ACA emissions, which could reduce adoption.
      • Competition: Despite being a leading DeFi protocol on Polkadot, Acala faces competition from other protocols like Parallel Finance, which has a larger TVL figure.
      • Dependence on Polkadot Ecosystem: Acala's success is heavily dependent on the adoption and growth of the Polkadot ecosystem, which could be a risk if Polkadot does not gain widespread use.
      Last Updated: 12/6/2024 02:09 UTC
    • Founders of Acala

      The founders of Acala include:

      • Ruitao Su: Co-founder of Acala and also co-founder and CEO of Laminar, a leading synthetic asset and margin trading platform.
      • Fuyao Jiang: Co-founder of Acala and founder of Polkawallet, Polkadot's mobile wallet.
      • Bryan Chen: Co-founder of Acala and also co-founder and CTO of Laminar.
      Last Updated: 12/6/2024 02:09 UTC
    • Investors in Acala

      Acala has several notable investors, including:

      • Pantera Capital: A leading investment firm focused on blockchain and cryptocurrency projects.
      • Coinbase Ventures: The venture arm of Coinbase, one of the largest cryptocurrency exchanges.
      • Polychain Capital: A well-known investment firm specializing in blockchain and cryptocurrency investments.
      • CMS Holdings: A firm that invests in various blockchain and cryptocurrency projects.
      • Zee Prime Capital: An investment firm that supports innovative blockchain projects.
      • CoinFund: A venture firm that invests in blockchain and cryptocurrency startups.

      These investors have contributed to Acala's funding rounds, supporting its development as a decentralized stablecoin platform within the Polkadot ecosystem.

      Last Updated: 12/6/2024 02:09 UTC
    • Understanding Acala

      Acala is a decentralized finance (DeFi) platform built on the Polkadot network. It offers a variety of financial applications, including stablecoin issuance, lending, borrowing, and a decentralized exchange.

      Key Features

      • Stablecoin Issuance: Users can mint aUSD, a decentralized stablecoin, by collateralizing assets.
      • Lending and Borrowing: Acala provides a platform for secure and efficient lending and borrowing, enabling users to earn interest or borrow assets against their collateral.
      • Decentralized Exchange: A built-in DEX allows for seamless asset trading within the ecosystem.
      • Cross-Chain Compatibility: Acala operates across multiple blockchains, enhancing interoperability.
      • Governance: Community-driven governance allows token holders to participate in decision-making processes and propose changes to the platform.

      Investment Considerations

      • Innovative DeFi Solutions: Acala’s unique approach to integrating DeFi and CeFi could attract a diverse user base.
      • Strategic Partnerships: Collaborations with other DeFi projects and blockchain infrastructure providers could enhance Acala’s ecosystem.
      • Community Engagement: Acala boasts a vibrant community with active discussions on various platforms, keeping users engaged and involved in the project’s development.

      Conclusion

      Acala presents a compelling investment opportunity with its innovative approach to DeFi, robust technological infrastructure, and strategic positioning within the Polkadot ecosystem. Its focus on integrating DeFi and CeFi, along with its strong market presence, makes it a noteworthy contender in the cryptocurrency market.

      Last Updated: 12/6/2024 02:09 UTC
    • Halal Status of Acala

      No, the halal status of Acala is not explicitly confirmed. Acala is a decentralized finance (DeFi) platform built on Polkadot, and while Polkadot itself is considered halal by some Islamic finance experts due to its neutral and agnostic nature, the specific activities and applications on Acala would need to be evaluated for Sharia compliance.

      Key Factors for Halal Consideration

      • Asset-backing: Acala's assets and their backing would need to be assessed for compliance with Islamic principles.
      • Purpose: The purpose of Acala and its applications must align with Islamic finance principles, avoiding interest and unethical activities.
      • Transparency: The use of blockchain technology can enhance transparency, which is a positive factor in Islamic finance.
      • Compliance with Islamic Law: A thorough evaluation by Islamic scholars is necessary to determine if Acala adheres to Islamic law and ethical guidelines.

      Conclusion

      Without a specific evaluation of Acala's activities and applications, it cannot be definitively stated as halal. Islamic investors should seek guidance from Islamic finance experts and ensure that any investment aligns with Islamic principles.

      Last Updated: 12/6/2024 02:10 UTC

    Description

    #558

    Acala is a cross-chain platform for financial applications on Polkadot. It supports smart contracts and built-in protocols that enable users to trade, lend, borrow, and stake across different blockchains. Acala also has its own stablecoin and DEX for efficient liquidity.

    Sector: Lending
    Blockchain: Polkadot

    Market Data

    Rank: 558
    Volume: 29M
    Marketcap: 110M
    Fully Diluted Value: 143M
    Circulating Supply: 71%
    4.6M 24K/35K
    794K 3K/9.8K
    426K 82K/123K
    374K 86K/107K
    282K 715/2.1K
    267K 27K/26K
    234K 7.4K/13K
    171K 6.2K/5.1K