The cryptocurrency market is very huge, there are hundreds of coins and tokens on different blockchain platforms. Every month many cryptocurrency platforms launch their coins and tokens as ICO (Initial Coin Offering) in the crypto market for fundraising for their projects.
What is Acala Token ICO?
Acala Token ICO is also one of them which is going to launch on 3 September 2021. Acala is an all-in-one decentralized finance (Defi) network which is offering a blockchain platform. This platform is secured by Polkadot. Acala also offers a suite of cross-chain financial applications for their users to trade on Acala Swap. Acala issues self-serviced loans with the Acala Dollar stable coin (aUSD), become a liquidity provider, access staking derivatives with Liquid DOT staking (LDOT), and earn high-interest APY on its digital assets.
The Acala network is scalable, Ethereum-compatible, and optimized for Defi. It can also be bridged to Bitcoin, Ethereum, and other networks such as Compound Gateway.
According to Coinmarketcap, “Acala is also building hybrid crypto and fintech products with US fintech company, Current, to bring Defi yield to Current’s three million U.S customers”.
The Acala decentralized network is governed entirely by Acala Token (Symbol is ACA), which also serves as the utility token for operating the Acala network.
When was Acala Network Founded?
Acala is a cross-chain DeFi hub for Polkadot, Kusama and beyond. It was founded in October 2019. Its current co-founder is Ruitao Su. Acala has received five Web3 Foundation grants. Acala is backed by Coinbase Ventures, Pantera Capital, Polychain Capital, and other top firms. They have a distributed team in China, Europe, New Zealand, South America, and the United States.
When will be the Acala Token ICO Available for Sale?
Acala Token ICO sale is ongoing from 31 August 2021 and it will end on 03 September 2021.
How to Participate in the Acala Token ICO Sale?
If you want to participate in the Acala Token ICO sale then you need to register at http://build.acala.network. After complete verification of your identity, you will be able to participate in the Acala Token ICO sale.