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Acala Secured The First Parachain Slot In Polkadot

Mary Liu

Summary: DeFi protocol Acala announced that it has won Polkadot's first parachain slot auction, and more than 81,000 community members have contributed over 32 million DOTs. Parachains that help Polkadot scaling are individual blockchains running in parallel within the Polkadot and Kusama networks, Acala will be onboarded on December 17, 2021, for the period of December 17, 2021, to October 20, 2023. ...

DeFi protocol Acala announced that it has won Polkadot's first parachain slot auction, and more than 81,000 community members have contributed over 32 million DOTs. Parachains that help Polkadot scaling are individual blockchains running in parallel within the Polkadot and Kusama networks, Acala will be onboarded on December 17, 2021, for the period of December 17, 2021, to October 20, 2023.

Acala is Polkadot's DeFi network and liquidity hub. It is a layer 1 smart contract platform that is scalable, compatible with Ethereum, and optimized for DeFi, with built-in liquidity and ready-made financial applications. With its decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT), and EVM+, Acala allows developers to get the best of Ethereum and full functionality of Substrate.

By Mary Liu

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