THELOGICALINDIAN - Acala Network has teamed up with Polkadot parachains and adventure funds to barrage a 250 actor aUSD Ecosystem Fund
Polkadot parachain activity Acala Network has appear the barrage of a $250 actor armamentarium to abutment ecosystem builders active appeal for its flagship product, the aUSD stablecoin.
Polkadot Ecosystem Pools $250M to Drive Acala USD Utility
Polkadot’s top builders accept rallied abaft Acala’s cross-chain interoperable stablecoin.
Today, Acala Network appear the barrage of the $250 actor “aUSD Ecosystem Fund” in affiliation with nine Polkadot parachain teams and added than a dozen acknowledging adventure basic funds. The ambition of the Ecosystem Fund is to abutment and advance in early-stage teams architecture articles and casework in the Polkadot and Kusama ecosystem that will drive appeal and account for Acala’s flagship stablecoin, aUSD. Commenting on the specifics of how the Fund will be operated, Acala’s arch advance administrator Dan Reecer said:
“The armamentarium will be operated by Acala. Teams will administer to the armamentarium on Acala’s website, again the Acala aggregation will handle vetting of teams, as able-bodied as allowance adapt teams for fundraising. This abutment will accommodate engineering, product, tokenomics, community, and fundraising strategy. Once teams are abundantly prepared, they will be alien to accommodating funds for abeyant accord in fundraising rounds.”
Polkadot parachain teams acknowledging the action accommodate Astar Network, Centrifuge, Efinity, HydraDX, Manta, Moonbeam, OriginTrail, Parallel, and Zeitgeist. Renowned crypto adventure funds including Alameda, Jump Crypto, Kraken Ventures, 1Confirmation, ParaFi, Pantera, and Spartan additionally alternate in adopting money for the Ecosystem Fund.
Acala is a scalable, high-throughput Polkadot parachain acknowledging forkless upgrades and custom optimizations. Its ecosystem is optimized absolutely for DeFi use cases and centered about the Maker-inspired, overcollateralized aUSD stablecoin. Acala has advised aUSD as a natively cross-chain interoperable asset, acceptation it can be acclimated beyond the absolute Polkadot and Kusama ecosystem after defective to be wrapped.
Acala’s ambition is for aUSD to become the primary stablecoin of the Polkadot ecosystem. To that end, it has partnered up with nine added parachains administration the aegis of the Polkadot Relay Chain to body up liquidity, trading pairs, yield, and all-embracing account for aUSD beyond the ecosystem. Commenting on aUSD’s advance and the accepted amount of proliferation, Reecer said that aUSD is still in barrage approach that it will booty some time afore advance starts to accelerate. “The AUSD stablecoin was aloof launched on Acala’s mainnet six weeks ago, so aUSD and Acala as a arrangement are still actual abundant in barrage mode,” he said. “As anon as Polkadot enables cross-chain functionality, advance will activate to advance as aUSD will anon be on DEXs, money markets, and added DApps on assorted parachains such as Astar and Moonbeam.”
The $250 actor Ecosystem Armamentarium appear today will advice Acala armamentarium early-stage teams architecture decentralized exchanges, money markets, payments protocols, derivatives, and added articles leveraging and accretion the account of the aUSD stablecoin.
Disclosure: At the time of writing, the columnist of this allotment endemic ETH and several added cryptocurrencies.
