‘Tree’ From NUTS Finance Receives First Acala Grant
The grant is to bringing a Stable Asset Protocol to Acala’s Multi-Chain DeFi Hub on Polkadot.
Tree is a synthetic asset protocol designed for optimizing liquidity fragmentation to increase asset usability in the Polkadot ecosystem.
Tree is powered by the Stable Asset system, which enables extremely efficient trading and low risk, using relatively closely pegged assets with the following capabilities:
1. Stable Swap — a highly efficient exchange liquidity pool
2. Stable Asset — a synthetic asset backed by a basket of assets with the same value peg (ie. various versions of BTC, ETH, DOT, stablecoins).
Acala is a multi-chain hub for liquidity and DeFi on Polkadot. The layer-1 platform is both EVM and Substrate-compatible, giving developers like NUTS the ability to build applications using Polkadot-native tools like Substrate and Polkadot.js, or Ethereum tools like Solidity, Truffle, and Metamask (using Acala’s EVM+). Acala offers built-in DeFi primitives, including the decentralized stable coin, aUSD, the Acala DEX, and Liquid DOT (LDOT) staking. Additionally, since Acala is built with Substrate, the chain can continue to be upgraded without forks, adding new functionality over time as developers discover new ideas for customization tailored to their DApp.
Acala Grants
The Acala Foundation Grants Program focuses on software development and research in the field of decentralized finance protocols that benefit the Acala and Karura ecosystem. The maximum amount of funding per application is limited to US$50,000. Larger funding requests will require more evaluation and due diligence, and hence the longer decision time.
Announcements about receiving an Acala Grant can only be made once the 1st milestone is accepted. Teams shouldn’t seek to cover 100% of their funding via the Acala Grants Program.
About NUTS Finance
Organized in 2018, NUTS Finance is a blockchain development DAO focused on building secure, composable and open source technology to enable financial applications on the blockchain.
About Acala
Acala is the EVM-compatible multi-chain DeFi hub of Polkadot. The platform also offers suite of cross-chain financial applications that let users trade, issue self-serviced loans, become liquidity providers, access staking derivatives, and earn high-interest APY on their digital assets. The network is scalable, Ethereum-compatible, and optimized for DeFi.
