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  • Acala Token ACA
  • ( -3.40 % )
  • Rank #525
  • Coins

₹6.328

₹6.328

  • Rank #525
  • Coins

Market Cap

₹6.15 B -4.9680%

Circulating Supply

1021250000

Max Supply

1600000000

Volume

₹224.81 M

All Time High :

₹208.64

All Time Low :

₹2.56

Price change in 24H :

₹-0.310604

24H High :

₹6.33

24H Low :

₹5.95


   Acala Token ( ACA ) Price Live Chart


Acala Token (ACA)

Acala token serves as an Ethereum-compatible platform with smart contracts, establishing a decentralised finance (DeFi) ecosystem and a liquidity centre for Polkadot (DOT). Its framework comprises a stablecoin network and a staking platform for liquidity.

The stablecoin network within Acala token operates as a fundamental element for decentralised finance (DeFi) on Polkadot. Through a cross-chain protocol, it harnesses the shared security layer, known as the relay chain, on Polkadot. This mechanism facilitates users to transfer value across the interconnected blockchains, referred to as parachains, linked by Polkadot.

What is Acala Token  (ACA)?

Acala token is a DeFi smart contract platform and serves as the liquidity hub for Polkadot. It is a cross-chain protocol specially crafted to address stability and liquidity challenges within the blockchain sphere. The platform benefits from the security provided by Polkadot's shared security layer, Relay Chain.

Acala token network presents a range of financial tools for DeFi applications, encompassing a multi-collateralized stablecoin (aUSD), trustless DOT Liquid staking (LDOT), and an Automated Market Maker Decentralised Exchange (AMMDEX).

The network operates with its native token, ACA, utilised for micro gas fees, stability fees (interest rate on aUSD loan), penalty fees (in case of liquidation), and for voting on network changes and development. Acala stands as a stable forkless network integrating an inbuilt EVM (Acala Ethereum Virtual Machine) to support decentralized application development and asset creation.

Who are the Founders of Acala Token?

Acala token network was established by a team of developers: Ruitao Su, Bette Chen, Bryan Chen, and Antonia Chen, aiming to create a stablecoin. Ruitao Su, Bette Chen, and Bryan Chen, originally based in Auckland, New Zealand, co-founded Laminar. 

During the Substrate Hackathon organised by PolkaWorld in China, they connected with Fuyao Jiang, the Founder of PolkaWallet, marking the genesis of the Acala token network.

How does Acala token work?

Acala token network comprises Acala Dollar, AcalaSwap, an AMM decentralized exchange, Open Oracle Gateway, and two decentralized protocols—Honzon Stablecoin Protocol and the Homa Tokenized Staking Liquidity Protocol—designed to enhance stability and liquidity within the Polkadot network.

  • Hozon Protocol: Acala token USD (aUSD) operates through an over-collateralized debt position (CDP) system, wherein each aUSD is backed by a crypto asset and pegged against the US dollar. Users open a CDP by depositing collateral, such as native DOT or bridged assets like BTC or ETH, which cannot be closed until the protocol receives stability fees and aUSD debt from the depositor.

  • Homa Protocol: The Acala token network introduces the Homa Protocol to establish a decentralized staking pool where users can lock their DOTs to earn staking yield and obtain L-DOTs, tradable across all Polkadot connected chains. This protocol manages locked assets, facilitates staking participation, executes algorithmically adjusted staking strategies, and oversees rewards and penalties.

What sets Acala Token apart are its distinctive use cases?
  • The Acala token introduces forkless upgrades, enabling seamless updates to meet evolving needs continuously.

  • Within the Acala network, users can stake their DOTs and obtain liquid DOTs in return, usable for trading or other purposes without needing to unstake.

  • ACA operates as a deflationary token; platform fees lead to its burning and permanent removal from the network's total supply.

  • Token holders of ACA gain voting rights, enabling active participation in network development as it serves as a governance token.

  • Acala's Open Oracle Gateway facilitates the deployment of prominent projects onto the Acala token, establishing a robust, decentralised oracle infrastructure for the DeFi hub and various Dapps across Acala, Polkadot, Kusama, and more.

For more information on Acala Token (ACA), visit Suncrypto Price Explorer


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