Acala Ecosystem Update — January 2022
Acala Network is the decentralized finance network and liquidity hub of Polkadot.
Acala Crowdloan Rewards Distributed to Participants
On Dec 28, Acala started distributing rewards to Crowdloan participants ensuring eligible supporters received ACA and LCDOT tokens to their respective addresses. Participants who contributed DOT to the Acala Crowdloan received ACA as a reward, giving them a share of the Acala network and the opportunity to participate in governance activities. Most Crowdloan contributors had their coins automatically distributed by Acala; however, users who participated in the Crowdloan via indirect channels must claim their tokens.
ACA & LCDOT Token Transfer Enabled. Community Can Send, Receive and Participate in On-Chain Governance
As part of the ongoing launch process, ACA token transfers were enabled. Users can now transfer ACA and LCDOT between accounts. Acala Crowdloan participants have received their allocated ACA, and the wider crypto community now enjoys access to ACA tokens through several exchange listings.
Community Call Acala Launch Update & Introducing AquaDAO: Aiming to Grow Acala Treasury and Reserves
— Acala has $600 million + TVL, over 200k token holders, and 3M+ fintech clients to onboard.
— Acala is ushering in a new category in finance known as Hybrid Finance (HyFi). HyFi combines the world of fintech and traditional banking with crypto and Web3. The setup will enable upgrades as the market demands, making the Acala network future-proof.
About Acala
Acala is the decentralized finance network and liquidity hub of Polkadot. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications. With its trustless exchange, decentralized stablecoin (aUSD), Liquid Staking derivative, and EVM+, Acala lets developers access the best of Ethereum and the full power of Substrate.
➡️For More Info:
https://medium.com/acalanetwork/acala-ecosystem-update-january-2022-85bfbb648bac
