- Acala created a $250 million ecosystem fund at the end of March to help increase aUSD adoption and speed the development of decentralized apps that use the stablecoin on Polkadot. The ecosystem fund included a number of well-known industry names, including Alameda Research, Arrington Capital, Digital Currency Group, Kraken Ventures, and Pantera Capital.
- Acala is pitching itself as an Ethereum-compatible smart contracts platform tailored for DeFi, as the first project to win the Polkadot parachain slot auction. The platform includes its own decentralized stablecoin, aUSD, as well as a number of other financial products.
- Polkadot, together with Kusama and their internal projects, appear to have resolved not to lose their heads in a bear market and have begun to develop the downturn. This announcement may please ecosystem aficionados, but it appears that the sheer number of networks and integrations is becoming increasingly perplexing.
Moonriver received aUSD stablecoin integration yesterday, and Moonbeam will receive it today. This is the first time the Acala parachain stablecoin has been integrated across networks in the DotSama (PolkaDot + Kusama) ecosystem.
Acala Called Polkadot’s Wealthiest Project
Acala is pitching itself as an Ethereum-compatible smart contracts platform tailored for DeFi, as the first project to win the Polkadot parachain slot auction. The platform includes its own decentralized stablecoin, aUSD, as well as a number of other financial products.
Acala created a $250 million ecosystem fund at the end of March to help increase aUSD adoption and speed the development of decentralised apps that use the stablecoin on Polkadot. The ecosystem fund included a number of well-known industry names, including Alameda Research, Arrington Capital, Digital Currency Group, Kraken Ventures, and Pantera Capital.
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Number Of Networks And Integrations Is Becoming Increasingly Perplexing
Finally, when it was revealed that aUSD would launch on two Polkadot networks: Moonbeam and its sister Moonriver, the stablecoin’s adoption reached the next level. Zenlink, a third cross-chain DEX protocol based on Polkadot, will handle integration.
Polkadot, together with Kusama and their internal projects, appear to have resolved not to lose their heads in a bear market and have begun to develop the downturn. This announcement may please ecosystem aficionados, but it appears that the sheer number of networks and integrations is becoming increasingly perplexing.
Source: https://www.thecoinrepublic.com/2022/06/02/this-innovation-will-give-the-polkadot-and-kusama-ecosystems-a-new-lease-on-life/