Acala Wins First Parachain Polkadot Auction With Over 32 Million DOT Bets


The Acala Network Has Won First Place In The Parachain Auctions Of Polkadot, with over 81,000 stakeholders locked their funds in the community.


Acala, an Ethereum-compatible DeFi protocol for scaling DApps, has secured first place in the much-anticipated Polkadot parachain auctions.

Acala, a decentralized Layer-1 smart contract platform, recently won first place in the parachain auction on Polkadot with a total of 32,515,989 DOT ($1,250,895,296) locked from over 81,000 community members. This money will be used for countless cases.

The first features include launching a stablecoin on the Polkadot network and building a decentralized exchange (DEX).

The Polkadot community marks Acala as the parachain most likely to win the auction after raising over $600 million last week.

The protocol will be introduced on December 18 along with five other first-time auction winners. Moonbeam could become the second winner after hitting more than 5 million transactions on its network and becoming the top parachain on the Kusama sister network.

So far, Moonbeam has raised 34.28 million DOT, or about $1.35 billion, in an auction from more than 46,000 contributors. Investors will receive one Moonbeam token (GLMR) for each DOT they commit, with 30% of the reward available immediately upon request and the remaining 70% to be used for the duration of the lease. 96 weeks. The reward consists of 100 million, or 10%, of its total 1 billion token offering. GLMR’s token inflation is at 5% per year.

Polkadot parachain auctions began on 11 November after years of planning and building, to allow developers to integrate their own custom, project-specific blockchains on the Polkadot ecosystem .

Channel to update Crypto information: Financial Investment Academy

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