Acala is a blockchain platform secured by Polkadot, offering users the ability to trade on Acala Swap, provide self-service loans with the Acala Dollar stablecoin, and access high-yield APY on their digital assets through Liquid DOT staking. Liquidity providers can benefit from staking derivatives and earn significant interest.
What is Acala (ACA)?
The network is scalable, Ethereum-compatible, and optimized for DeFi. It also bridges to other networks like Ethereum, Bitcoin, and Compound Gateway, which received a grant from Compound. Acala is developing hybrid crypto and fintech products with US fintech company Current, aiming to provide DeFi yields to Current’s three million US customers. You can test Acala’s applications on the testnet today.
Acala was founded in October 2019 and has received five grants from the Web3 Foundation. It has backing from top firms like Coinbase Ventures, Pantera Capital, and Polychain Capital.
The decentralized network is entirely governed by the Acala Token (ACA), which also serves as a utility token to operate the network.
With Acala, users can access DOT-based assets and derivatives, native decentralized stablecoins on Polkadot, Polkadot ecosystem assets, and cross-chain assets like Bitcoin and Ethereum.
Acala’s chain is customized for DeFi and can continue to upgrade without forks to integrate new features requested by developers. For example, on-chain “keepers” automate protocol execution to better manage risks and improve user experience, or transaction fees can be paid with almost any token to mitigate issues.
Acala Dollar (aUSD) is the native programmable primitive of the Acala network. aUSD is a Polkadot-specific decentralized stablecoin backed by cross-chain assets like DOT, DOT derivatives, and BTC.
Acala’s layer-1 platform claims to offer the best of both Ethereum and Substrate environments. It is compatible with existing tech stacks, tools, and wallets like MetaMask.
How to Buy ACA Coin?
ACA Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy ACA Coin, you first need to register with Binance and then send fiat currency. After sending fiat currency like USD, you can buy ACA Coin in the trading pairs where it is traded against Bitcoin (BTC), BUSD, and Tether (USDT).
Additionally, on Binance, users can place a buy order at a lower price than the market value by using the Limit tab. You just need to enter the desired amount and price to make your purchase.
