Together with the original eight Polkadot parachain teams and many top venture capital funds, Acala launched the$250 million "aUSD Ecological Fund"first level title
——aUSD Ecosystem Fund
aUSD’s Origins
Three years ago, taking Auckland, New Zealand as the starting point of the project, the four co-founders of Acala (Bette, Bryan, Ruitao, and Fuyao) compared the cross-chain networks such as ETH2 and Cosmos, the Ethereum expansion plan on the market. Polkadot builds a parachain network focused on the DeFi field. Acala was founded from the need for cross-chain, native, decentralized stable assets, andThe long-term goal is to become the "cornerstone" that drives Polkadot's future economy. After reliable product and technology verification, the Acala team launched a stable asset model based on encrypted assets, over-collateralized and decentralized for the Polkadot ecosystem. Because if you want to build an economic ecology with hundreds of network combinations, you need a safe, reliable and stable asset to undertake the "driving engine" in the market.
In addition to strong stable assets, the Acala team also looks forward to helping the Polkadot ecosystem realize a healthy and benign encrypted asset market by releasing liquidity. The largest application scenarios of DOT focus on Crowdloan and Staking, but through simple pledge, DOT cannot take on more roles in the economic ecology, because the development of any healthy economic ecology requires reasonable debt to promote. In order to make the Polkadot economic ecology more dynamic, aUSD can help users use basic reserve assets (such as DOT, KSM, ACA, KAR) and cross-chain assets such as Parachain tokens (Parachain token), BTC or ETH to obtain additional liquidity. Because users can stake these assets to mint aUSD to increase their chances of earning more income while still holding ownership of existing reserve assets.
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Polkadot’s Multi-chain Economy
Polkadot, as a team that has been researching revolutionary blockchain technology for a long time, is committed to realizing truly decentralized technology. Any team built in the Polkadot ecosystem, whether it is a parachain or a DApp, can enjoy the plug-and-play shared security brought by the Polkadot relay chain. Another important reason why the parachain team chose Polkadot is the native and decentralized cross-chain function that Polkadot promises to provide, because it allows assets and data to be transferred between networks without cross-chain bridges. Free flowing and user friendly. In order to realize this vision, the parachain team is continuously promoting cooperation and starting cross-chain interaction.
Take the parachain products that will be launched soon as an example:
Acala provides aUSD as the underlying stable asset in the Dotsama ecosystem through the DeFi platform
Moonbeam provides a fully Ethereum-compatible platform
Astar Network launched a WASM + EVM platform
Manta Provides Crypto Asset Privacy Technology
Centrifuge links real-world asset financing
Efinity Brings Non-Functional Testing, Games, and the Metaverse Platform
HydraDX brings a professional DEX chain
OriginTrail Brings the Decentralized Knowledge Graph
Parallel provides a multi-chain DeFi product platform
Zeitgeist launches prediction market application and Futarchy (a form of government governance through prediction markets)
Once all these chains start to create synergies, the Polkadot network will grow exponentially.
One of the most basic cooperation methods between parachains is to establish liquidity, asset pairs, income opportunities, and practical application scenarios related to Polkadot's stable asset aUSD. Acala and the 9 teams mentioned above have started to cooperate and explore, and will use aUSD as the cornerstone of sustainable ecological development. In the next few decades, as the concept of Web3 spreads to the global economy, it is believed that there will be hundreds of The application of the meter is booming.
Jump CryptoPresident Kanav Kariya said: "With the continuous improvement of Polkadot's functions and the successive launch of parachains,It is believed that Acala will become the best decentralized stable asset and DeFi economic center in the Polkadot ecosystem. For Jump, we look forward to working with the team and participating in ecological investment, hoping to have a team accelerate innovation in the broader ecosystem.”
AcalaCo-founder Bette Chen said: "secondary title”
aUSD Ecosystem Fund
The development goals of aUSD ecological fund
Invest in Polkadot and Kusama ecology to support and incubate start-up project teams with strong aUSD application scenarios
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Eligible items
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Ecological support list
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How the aUSD Ecosystem Fund can support your team
The "aUSD Ecological Fund" will be supported by the Acala team as well as all partners and investment institutions. Teams will receive through this fund:
Investments from the industry's top venture capital funds
Technical support from Acala's team of professional engineers and experience building Solidity and Substrate products
aUSD liquidity support, increasing network TVL
Expand opportunities for ecological applications through a strong fund network
Fundraising announcement, project launch, and marketing support from Acala and its funding partners
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Who should apply
1. Based on aUSD application
We hope to support all start-up projects that can increase the revenue opportunities and practicability of aUSD, and DApps developed using Substrate modules (Pallet) or based on EVM are eligible to apply. The following are the application directions that are very suitable for applying for this fund:
2. Parallel chains, infrastructure and tools
The "aUSD Ecological Fund" will also support early parachain teams, wallets or other basic tools that are important to the aUSD ecosystem.
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