So what is Acala Network?
Acala is Polkadot's decentralized financial network and liquidity center. It is a Tier 1, scalable, Ethereum-compatible, DeFi-optimized smart contract platform with built-in liquidity and off-the-shelf financial applications.With its robust exchange, aUSD decentralized Stablecoin, and DOT Liquid Staking (LDOT) protocol, Acala enables developers to access the best DeFi technology from Ethereum and all the power of Substrate.
In simple terms Acala is the main financial (Defi) project of the whole Polkadot network, which has all Defi tools (lending, staking, DAX, etc.) that Ethereum and other Defi projects have.
What is landing?
Lending is the leasing of digital assets at a certain interest rate. Its essence is that the user already owns or acquires an N number of coins, then leases them to a third party (platform), which will put the funds into circulation and act as a guarantor of their return.
What is steaking?
Stacking is essentially passive income by filling the project pool with liquidity to protect it, for which the project pays a percentage to encourage users. Such a process uses the Proof of Stake (PoS) algorithm - proof of ownership.
Investors
Acala was founded in October 2019 and has received five Web3 Foundation grants to date, has support from Coinbase Ventures, Pantera Capital, Polychain Capital and other leading companies, and has a distributed team in New Zealand, China, Europe, South America and other countries.
Acala also has great support from Polkadot founder Gavin Wood and is the first parachain to win auctions for parachain slots.
That's all for now, see you in the next post ;)
And may fortune guide you through life!
