On May 1st last year, the Acala Foundation became a member of the Kusama Network Council and the first member of the multi-signature decision-making address foundation. He has a good official relationship with Polkadot and has received official financial support from the Web3 Foundation twice.
At present, there are 20 institutions participating in Acala, many of which are well-known crypto venture capital institutions, such as DCG, which is the parent company of Grayscale. Therefore, the investment lineup is still good, and the active level of the community is coming The probability of winning in the slot auction is high.
Like Polkadot, there are three types of online process settings for Acala:
▶Mandala test network is equivalent to Polkadot's Rococo;
▶Karura experimental pioneer network is equivalent to Kusama, which has economic value like Kusama, and the token is KAR;
▶The Acala mainnet is equivalent to the Polkadot mainnet, the token ACA.
Such synchronization allows Acala to better adapt to the Polkadot ecology. The role of the three networks is a progressive relationship. The Mandala test network is a trial and error network. No economic value is set, and the tokens will be cleared after the test. Zero; Karura experimental pioneer network can develop some relatively radical and trendy applications, so that products can be more adaptable to update iterations, and can be deployed to the main network after stability. Acala main network is some mature applications.
Acala can be said to be the King of Defi on Polkadot, not just an application portfolio based on Polkadot, because it is born with stablecoins, staking derivatives, DEX and on-chain governance models. If it develops as desired, it can become Polkadot. The financial center of the future.
Many people like to use Polkadot's Defi to benchmark Ethereum's Defi. At the moment, it is not comparable. After all, Polkadot has not even launched the Kusama Pioneer Network yet and is still in the stage of testing the network, so it is difficult to have Objective data is used as support.
But now the problem of Ethereum is actually obvious. Its traffic bottleneck has restricted the development of Defi ecology, which is the expansion problem that it urgently needs to solve. The design advantage of Polkadot ecology is that it can better serve Defi. Yes, plus all Substrate-based chains can easily and seamlessly plug and play business functions through non-forked on-chain upgrades, all of which allow Polkadot to nourish the development of Defi.
Acala's stablecoin system also adopts the form of over-collateralization, which generates stablecoin aUSD through over-collateralization of multiple assets, with a target price of $1, but it has been improved, and about 20% of the space in each block is reserved for the system Priority channel for transactions.
It is like an emergency passage on a highway. This is of great significance. Last year, the price of 312 coins plummeted, which caused congestion in Ethereum and prevented the liquidation work from proceeding normally. Maker generated about $5 million in bad debts in this incident. , And Acala will not have such a situation.
Acala has another point. The network fee mechanism has been improved. Users can choose any asset in the network as a fee. Currently, it supports aUSD, ACA, DOT, LDOT, XBTC, RenBTC, this protocol for subsequent access As it increases, more currencies will be supported, which is actually more user-friendly when interacting with users.
Getting through the direct interoperability of Ethereum Defi and Acala is also a promising development direction. At present, many Defi projects in the Ethereum ecosystem have also begun to cooperate with Acala, such as Ren and Ampl.
Defi is very important to a public chain, it can revitalize the entire ecology, and Acala is the leader of the Polkadot circuit, so a lot of preparations have been made in the slot auction, because what is about to be done is The slot auction of the Kusama network corresponds to the Karura network of Acala.
The aura of Polkadot and the popularity of the entire market, especially the first slot auction of Kusama.com, are unprecedented in terms of popularity and the number of participants, which is equivalent to betting. Recently, I will also observe some more potential projects to do an analysis, hoping that I will not fall behind in front of Polkadot's opportunity.
but many analysts said that this project is already not best for investment