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Polkadot Star Project - Defi center "Acala"

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Written by   14
1 year ago
Topics: Acala, Polkadot, Defi, Blockchain, ETH, ...

"Acala"-A decentralized finance hub and stablecoin platform powering cross blockchain liquidity and applications

Acala has been supported by the Web3 foundation, polychain, Pantera, DCG, parafi, Arrington XRP and hypersphere. At present, the development of all Acala products has been completed, srlabs and slowmist have completed the security audit of Acala's full product code, while another head security audit organization, trail of bits, will start security audit of Acala in January 2021.

Acala is the most important defi infrastructure for Polkadot ecology. It provides a series of out of the box defi product components, such as the stable currency of excess mortgage, the decentralized stacking derivative ldot / lksm, and the built-in decentralized exchange and decentralized autonomous fund Dao core layer 1 core components.

THE ECOSYSTEM

Stablecoin

Stable assets are the cornerstone of any defi ecosystem, and Acala is committed to bringing the first stable asset to the Polkadot network. The Acala stable currency, ausd, is secured by encrypted assets as collateral, rather than the French anchored currency. This makes it more like the Dai of maker than the usdc of circle. Any user with Acala backed collateral asset currencies, such as Acala (ACA), Polkadot (dot / ldot), and cross chain bitcoin (renbtc / XBTC), can borrow these assets as collateral to ausd through over mortgage lending.

As we all know, the smart contract on the market is only a closed sandbox, and there is a certain barrier between the contract and the chain itself. For example, the erc-20 assets issued by Ethereum EVM cannot be directly used in the original Ethereum chain itself. We Acala will break through this barrier, that is, DAPP constructed by Acala smart contract can be compatible with the stable currency asusd or other built-in modules in Acala chain, so as to realize the integration of chain and contract.

DEX

After the subversion of the trading center, it is very important for the users to obtain the stability of the new assets. The Acala team created a DEX to help users easily and easily exchange the assets supported by the network (ACA, dot, ldot, renbtc, and XBTC). At the same time, users also have the opportunity to gain network revenue by providing liquidity pairs to the trading pool. This type of design (AMM) is similar to uniswap, which was popular in the market this summer.

Liquid Staking

Most people may not be familiar with liquidity derivatives (ldot), but it is an important part of the Acala platform. Users can use Acala HOMA protocol to help dot obtain the benefits of stacking. Although there are many similar stacking services in the market, in other pledge agreements such as tezos or cosmos, the economic value of the pledged assets is locked and cannot be used for other services, thus the liquidity of the pledged assets is lost. However, in the HOMA protocol, users of pledge can also exchange the pledged derivatives, namely ldot, after locking dot. For those familiar with compound, this is similar to receiving the generated compound usdc when you deposit it. In other words, you can pledge dot and get ldot, and your assets are liquid and can be used in a variety of other financial services. The current value of pledged derivative assets is also conducive to the development of a broader Polkadot ecology, because asset holders no longer need to worry about whether to have both "fish" and "bear's paws", and can enjoy other decentralized financial services at the same time, which also ensures that sufficient pledge quantity will not pose a threat to network performance and security.

Parachain Bonding Derivative

The parallel chain slot will be obtained through auction. In order to obtain the parallel chain slot, the community members must vote to lock the dot during the parallel chain auction lease period. This rule is abided by by by all projects participating in Polkadot parallel chain auction, and it is not a special requirement for Acala. Similar to stacking, however, Acala's team tried to eliminate the opportunity cost of users voting to lock dot into participating in parallel chain auctions. Their solution is basically similar to the specific lock-in pledge asset (PDOT) for parallel chain auctions.

Laminar

Laminar is a project of Acala's founding team on the Polkadot network, and in fact, both projects have the same co-founder. Laminar focuses on bringing available liquidity to traditional central financial exchanges and linking it to decentralized finance. They plan to do this by generating synthetic assets such as the S & P 500 index, AMZN, EUR / USD, and providing margin trading. Its strength is that it allows anyone in the world to access the full range of products and services of today's traditional financial products in a decentralized, trust free way.

It should be noted that Acala has not yet issued any token, and parallel chain slot auction is the best way to obtain Acala network token.

Acala will inform the community about the relevant details about 45 days before the start of the parallel chain slot auction, so that users can have enough time to unlock their KSM / dot and participate in the Acala parallel chain slot auction. For the latest details of Acala parallel chain, please click the link to subscribe:

https://acala.network/newsletter-sign-up.html

If you want to know more about Polkadot, or Polkadot ecological project, please leave a message in the comments section, I will share it with you in the following article.

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Written by   14
1 year ago
Topics: Acala, Polkadot, Defi, Blockchain, ETH, ...
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