Tag: Acala

Binance Lists Altcoin Built on Polkadot (DOT), Plus An Additional Crypto Asset On Terra (LUNA)

by Dailyhodl

The world’s largest crypto exchange has listed a new altcoin project in the Polkadot ecosystem, as well as another crypto asset based on Terra (LUNA).

In a new announcement, Binance says it’s listing Acala (ACA), an Ethereum-compatible smart contract platform and Polkadot (DOT) parachain.

Acala’s blockchain has built-in decentralized finance (DeFi) protocols for app developers to leverage including its own stablecoin called Acala Dollar (aUSD), plus a decentralized exchange (DEX). It aims to be the “DeFi hub” of Polkadot by allowing for easier app-building and more efficient trading.

At time of writing, ACA has only been trading for roughly 12 hours. It has so far traded mostly downwards, currently changing hands for $2.03 after launching at $2.40.

Hours later on the same day, Binance announced it was listing Anchor Protocol (ANC), a lending and borrowing protocol on the Terra blockchain.

Anchor aims to provide “low-volatile” yields on Terra stablecoin deposits with a rate powered by a diversified stream of staking rewards from other major blockchains. The Anchor protocol aims to provide depositors with stable deposit yields, instant withdrawals, and principle protection via liquidation of loans at risk of under collateralization.

The project says,

“The Anchor community believes that a stable, reliable source of yield in Anchor has the opportunity to become the reference interest rate in crypto.”

ANC enjoyed a brief 23% bounce after getting listed, from $1.52 to $1.57. It has since given up some of its gains and is sitting at $1.61.

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Moonbeam Wins Second Parachain Auction Slot on Polkadot

by Blockchain News

Moonbeam, an emerging protocol that prides itself as one of the most powerful Ethereum-compatible smart contracts on the Polkadot blockchain, has won the second parachain auction slot, riding on the wings of over 200,000 of its diverse community.

The keenly contested auction ended in the protocol’s favour after it secured a total of 35 million DOT (approximately $1.4 billion) from the participating community members.

The Polkadot blockchain is building its capability to host parachains or sub-smart contracts that can foster robust interoperability and transfer assets across the board. With five parachains billed to be floated in December, the Moonbeam success in the auctions trails that of Acala which Blockchain.News reported made the first breakthrough last week.

“Moonbeam has set a new precedent for crowdloans, receiving the largest total contribution from the most contributors by far,” the Moonbeam Foundation said in the official announcement. “Over 200,000 participants contributed DOT to the crowdloan across all sources, including the Moonbeam Foundation DApp, supporting exchanges, wallets, and liquid staking providers. The average contribution was approximately 170 DOT per participant, indicative of the broad participation from Moonbeam’s global community.”

At present, more than 95 million DOT tokens, approximately $3.8 billion, have been locked in crowdloans for parachain projects across the ecosystem. There are three more protocols in the running to win a slot as part of the parachains on Polkadot. Based on the total contributions in each protocol, according to data from Parachains.info, Parallel Finance, Astar, and Clover Finance are the most favoured to win the auctions at the time.

While the contributed DOT tokens are billed to be locked for the duration in which the parachain slot will be leased, participants are billed to be incentivized adequately for their support. The Moonbean Foundation said its rewards now account for 15% of its total GLMR token supply.

Image source: Shutterstock

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Acala Welcomes SubQuery to Polkadot Parachain

by Cryptobriefing

Key Takeaways

  • Decentralized data indexing and querying solution SubQuery has announced that it will launch on the Acala parachain.

  • Acala is the first project to win a parachain auction and secure its place on the Polkadot network.

  • SubQuery aims to be the fist project to launch a token and an external application on Acala.


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SubQuery, a leading data aggregation, indexing, and querying solution on Polkadot, has announced that it will launch on Acala’s parachain.

SubQuery Heads to Acala Parachain

SubQuery is launching its decentralized indexing and querying solution on Acala.


SubQuery announced today that it will launch its service on the Acala parachain—a leading smart contract platform hoping to become the home of DeFi on Polkadot. SubQuery’s service unlocks blockchain data and transforms it into a queryable state, allowing developers to index, process, and query data much faster and without building their own in-house data processing solutions.



Acala won the first Polkadot parachain auction earlier this month, securing a two-year parachain lease that will last until Oct. 20, 2023. Parachains are individual, application-specific blockchains that connect to Polkadot’s Relay Chain to make the network more scalable. To join the Polkadot network, projects must secure their spot by bidding for one of 100 parachains through staking Polkadot’s DOT token in parachain auctions. Acala came out on top for the first slot after narrowly beating Moonbeam in a candle auction.

Commenting on the decision to pick Acala over other parachains, SubQuery CEO and founder Sam Zou said: 


“We have ambitious growth plans, but our home will always be Polkadot. By partnering with Acala, the best DeFi platform on Polkadot, we have absolute confidence in their ability to help us not only in our token launch, but also in future areas such as micropayments for indexers across networks.”

In a press release, SubQuery said that it considered various options before deciding on a specific parachain but ultimately settled for Acala because it will offer EVM compatibility. Once Acala launches on Dec. 18, investors will be able to seamlessly participate in SubQuery’s token generation event and purchase SQT tokens through their MetaMask wallets on the Ethereum network.

Bette Chen, a co-founder of Acala, explained that the project would act as Polkadot’s DeFi hub, aggregating assets and liquidity from various blockchains. “We are excited to be able to continue our close relationship with SubQuery and launch the SQT token and SubQuery smart contracts on our platform,” he said, speaking of the collaboration between the two projects.

The SubQuery Network and the SQT token are due to be the first external application and token to launch on Acala.

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