- Acala network wins Polkadot’s first parachain auction slot.
- Polkadot will onboard Acala on block #8179200 on December 18.
- Acala will launch a stablecoin on the Polkadot blockchain.
Acala — an Ethereum-based DeFi protocol for scaling DApps has won the first position in the much-anticipated Polkadot parachain slot auction event.
With this milestone achievement covered, a total of 32,515,989.5 DOT has been locked eventually from more than 81,218 on-chain contributors in the community. Also, not less than 24,116,159.8 DOT were contributed via a liquid crowd loan DOT (LCDOT).
In many ways, Acala will use the fund to unfold many innovations on its platform in the coming days. In essence, this will help push its presence and adoption to a wide range of communities in the DeFi space. Interestingly, with the company’s vision to explore more, they have planned to launch their own stablecoin mainly on the Polkadot network.
Thereafter, the next big thing to follow is that Acala will make it come to reality by building a decentralized exchange (DEX). In reaction to this, Polkadot took to Twitter and gave a warm congratulations to Acala for winning the first slot of the parachain.
Congratulations to @AcalaNetwork for winning Polkadot’s first parachain auction!
Acala will be onboarded at block #8179200 [Dec. 18] at the beginning of lease 6 with the other first 5 auction winners. Over 81K network stakeholders locked up DOT in favor!https://t.co/ZFSzezZAFX pic.twitter.com/Xn0hItfHrm
— Polkadot (@Polkadot) November 18, 2021
According to Polkadot, they will onboard the Acala network at block #8179200 on December 18 with the other five winners of the auction.