Acala Network
Acala Network is a decentralized finance (DeFi) platform built on the cryptonewsnavigator.com, through its connection to the Polkadot network.
The Acala Dollar (USD) is a multi-collateral-backed stablecoin pegged to the US Dollar, designed for low-cost, borderless transactions across different chains.
ACA is its native token used for governance voting, transaction fees, and economic capital in liquidation scenarios.
It includes a custom transaction payment system that enables users to pay fees in any token listed on its decentralized exchange (DEX) without needing native tokens.
FAQs
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What is ACA used for?
ACA is Acala's native token used for governance voting, transaction fees, and economic capital in liquidation scenarios.
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Who founded Acala Network?
Ruitao Su, Bette Chen, and Fuyao Jiang.
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When was Acala Network established?
2019.