Acala price is $0.1253, 위 5.23% in the last 24 hours, and the live market cap is $120,509,155. It has circulating supply of 962,499,997 ACA coins and a max supply of 1,074,999,997 ACA alongside $4,833,892 24h trading volume.
Acala Network is a Decentralized Finance network built for the Polkadot ecosystem. As the first DeFi protocol to launch when Polkadot parachain auctions begin, Acala calls itself the DeFi hub of Polkadot. Acala offers interoperable cross-chain functionality and robust security protocols to host financial applications on its decentralized network. It provides various DeFi products and services, including lending, borrowing, and staking, minimal gas fees, and scalability features.
ACA is the native token of the Acala Network.
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What Is ACALA
Acala is Polkadot's decentralized finance network and liquidity hub. Acala Network is a layer-1 smart contract platform that's scalable, Ethereum compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications. It offers DeFi products and services you can use no matter which blockchain assets you own. You can take out a loan using Acala by collateralizing it with cryptocurrencies from different blockchains or use the Acala AMM DEX to swap native assets from other blockchains without wrapping them.
Acala was founded in October 2019. It has a distributed team in New Zealand, China, Europe, South America, and the United States. Acala has received five Web3 Foundation grants and has backing from Coinbase Ventures, Pantera Capital, Polychain Capital, etc.
Acala Network offers the following financial products:
aUSD, Acala's native decentralized stablecoin pegged 1:1 with the US dollar but backed entirely by crypto collateral. aUSD works via the Honzon protocol developed to mint stablecoins any time a user deposits accepted collateral
L-DOT is a token representing your staked DOT tokens' liquidity via its Homa tokenized staking liquidity protocol.
An AMM cross-chain decentralized exchange. The Acala DEX allows you to intuitively trade assets in liquidity pools, while liquidity providers earn fees for providing tokens to the pools.
How Does ACALA Work
Acala offers the best of Ethereum and the full power of Polkadot’s Substrate. It settles transactions for a fraction of the gas required on other networks. Acala hosts the Homa liquidity staking protocol and the Honzon stablecoin creation protocol on the Polkadot parachain. The network also accepts other wrapped assets such as renBTC as collateral to mint its stablecoin (aUSD).
Acala allows users to:
Trade on Acala Swap
Issue self-serviced loans with the Acala Dollar stablecoin (aUSD)
Become liquidity providers
Access staking derivatives with Liquid DOT staking (LDOT)
Earn high-interest APY on their digital assets.
ACA Coin
ACA coin is Acala Ecosystem's utility token that powers the Polkadot Defi hub and is used for the following purposes:
Transaction Fees
It powers the micro gas fees and smart contract execution.
Node Incentivisation
Incentivizes network nodes to monitor and relay messages to Polkadot.
Governance
Empowers the community to vote, elect council members, and drive the development of Acala.
Algorithmic Risk Adjustment
Auto-adjusts risk parameters such as interest rates or collateral ratio.
Pallet Deployment
Allows teams to deploy new Substrate pallets on the Acala blockchain by staking ACA tokens.
The ACA utility token has a fixed supply of 1,000,000,000. The Acala token price is volatile. So, what's the highest price for Acala? ACA Acala hit an all-time high of $2.79 on Jan 25, 2022, and an all-time low of $0.231809 on Jun 18, 2022.
How to Buy Acala
You must sign up with an exchange that supports Acala and undergo KLM verification to access ACA tokens and other assets. Once you get verified, simply login to your account, check the ACA and different currency prices, select a trading pair, and start trading.
You can buy Acala token on Binance, OKX, Bybit, MEXC, and Bitget cryptocurrency exchanges.
Check the Asala token current price to start trading.
Is Acala Coin a Good Investment
Acala has a good team of talented developers and innovative features. Acala has also fixed the scalability problem most blockchains have by adding an EVM feature that makes it very interoperable.
According to Acala Price Prediction, the asset will average $1.52 over 2022 before rising to an average price of $4.57 by 2025, with Acala price increasing to $29.58 in 2030.
Acala is definitely not the coin to invest in if you are looking for a quick 1-year return.
How Much Is Acala Per DOT
Acala’s DOT Liquid Staking product (LDOT) is aimed at helping token holders extract optimal value from their DOT tokens in a user-friendly and efficient manner. Token holders will receive 3 ACA for each DOT contributed.
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