protocol: News of Acala Token (ACA) - July 2024 Price Update - 7% Breakout Crypto News and Analysis

Explore the Core.

Acala is a decentralized finance (DeFi) protocol built on the Polkadot blockchain that offers an Ethereum Virtual Machine (EVM)-compatible platform for developers to build applications using Solidity. The network's key features include: Highly customizable EVM+ environment based on Acala's EVM-compatible runtime Acala USD (aUSD), a multi-collateralized stablecoin that can be minted by locking various assets as collateral Liquid Crowdloan DOT (lcDOT) tokens that represent DOT locked in Acala's crowdloan and can be used as collateral to mint aUSD Acala (ACA) token used for transaction fees, staking, incentivizing nodes, governance, and protocol maintenance

Spot the Main Event:

The protocol added a new chain to their ecosystem. User can now bridge their Acala assets to hydration_net, a cutting-edge parachain on Polkadot that integrates swaps, lending and a stablecoin. This upgrade boosted their integrity compelling investors to buy in.

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Explore the Core.

Acala is building the liquidity layer for web3 finance that is captive and sustainable. It aims to provide infrastructures for HyFi (DeFi+CeFi) solutions with crypto and real-world assets. Acala offers a Universal Asset Hub that hosts multichain liquid staking token (LST) protocols (such as liquid DOT - LDOT), an AMM decentralized exchange, and an app platform that is EVM-compatible and highly customizable (based on Substrate). Acala is secured by Polkadot, and is the liquidity gateway of Polkadot parachains and L1/L2 blockchains.

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