What is the ACA token?
ACA is the native token of Acala Network.
What is the ACA token used for?
- Transaction fees
- Incentivising nodes
- Adjust interest rates or collateral ratio
- Deploy pallets (smart contracts) by staking ACA
What is Acala Network?
Acala is a DeFi protocol on Polkadot for stablecoin and a liquidity staking module.
How does Acala work?
Inspired by MakerDao Acala features aUSD stablecoin CDPs. Users can lock collateral in different currencies to mint the stablecoin.
In case of a price collapse and undercollateralized CPDs the system will mint and sell ACA to recapitalize the system.
With ACA users have the right to vote and propose on changes to the protocol.
A liquid staking solution for DOT which converts staked DOT to freely tradeable L-DOT.
- L-DOT earns staking rewards and is redeemable for DOT at any time.
On Polkadot projects bid for a parachain slot by locking DOT tokens in a crowdloan.
- Participants in the Acala Crowdloan will be able to receieve lcDOT in addition to ACA rewards.
- lcDOT will be tradeable like any other token meaning they don’t need to wait up to 2 years for their locked DOT tokens.
Minted supply: 1 000 000 000 tokens
- Community – 49,76%
- Team – 20.25%
- Early Backers – 18,33%
- Backers – 11,66%