Acala’s suite of flexible financial products that serve the Polkadot network are pivotal to the booming ecosystem of dApps on Astar. The collaboration will enable developers to build on Astar’s vibrant DeFi ecosystem using Acala-native assets like aUSD, LDOT, and ACA, while receiving extra ACA and additional rewards from various Astar ecosystem teams.
The DeFi Rising program is the first step towards a thriving DeFi ecosystem leveraging the power of Astar’s Cross-Consensus Messaging Format (XCM) to execute trustless and decentralized cross-chain transfers.
Projects adding utility to aUSD on Astar Network can apply for Acala’s $250 million aUSD Ecosystem Fund and Astar’s SpaceLabs program. The $250 million aUSD Ecosystem Fund supports early-stage startups building applications with strong stablecoin use cases on any Polkadot or Kusama parachain. It is seeking Solidity or Substrate-based applications driving yield or utility for aUSD, including money markets, DEXs, derivatives, asset management, DAOs, payments, and other use cases.
About Acala
Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.
Acala is a decentralized finance network powering the aUSD ecosystem. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, …
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About Astar Network
Astar Network is The Future of Smart Contracts for Multichain. Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability, with cross-consensus messaging (XCM). We are made by developers and for developers. Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for the code they write and dApps they build.
Astar’s vibrant ecosystem has become Polkadot’s leading Parachain globally, supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps. To accelerate growth on Polkadot and Kusama Networks, Astar SpaceLabs offers an Incubation Hub for top TVL dApps.
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Source: Cryptocurrency - investing.com
