{"id":27880,"date":"2020-08-28T18:45:21","date_gmt":"2020-08-28T15:45:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27880"},"modified":"2025-08-26T23:43:59","modified_gmt":"2025-08-26T20:43:59","slug":"polkadot-based-defi-protocol-acala-raises-7-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/polkadot-based-defi-protocol-acala-raises-7-million\/","title":{"rendered":"Polkadot-based DeFi protocol Acala raises $7 million"},"content":{"rendered":"<p>The Polkadot-based DeFi protocol Acala raised $7 million through the sale of SAFT contracts as part of a Series A funding round.<\/p>\n<p><!--more--><\/p>\n<p>Participants in the round include Pantera Capital, Digital Currency Group, 1confirmation, Arrington XRP Capital and Polychain Capital.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Learn more about the Acala DeFi suite\u2019s core functionality and how our parachain being built on <a href=\\\"https:\/\/twitter.com\/Polkadot?ref_src=twsrc%5Etfw\\\">@Polkadot<\/a> removes the need for users to make a choice between staking yield and DeFi yield. <a href=\\\"https:\/\/t.co\/kxp2pRFDsP\\\">https:\/\/t.co\/kxp2pRFDsP<\/a><\/p>\n<p>\u2014 Acala Network (@AcalaNetwork) <a href=\\\"https:\/\/twitter.com\/AcalaNetwork\/status\/1299087367207182337?ref_src=twsrc%5Etfw\\\">August 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote>\n<p>&#8220;We were early and large investors in Polkadot and are confident that Acala will become the center of DeFi for the entire ecosystem,&#8221; said Paul Veradittakit, a partner at Pantera Capital.<\/p>\n<\/blockquote>\n<p>The Acala team says their Polkadot-based parachain will remove the need to choose between staking rewards and DeFi yields from locking funds in DeFi protocols.<\/p>\n<p>The Acala team has focused on developing a suite of DeFi products, including a decentralized stablecoin called aUSD, a non-custodial exchange, and a staking-derivative contract.<\/p>\n<p>The project also issued the governance token Acala Network Token (ACA). The Acala model is similar to MakerDAO.<\/p>\n<p>The developers said that over three weeks on the testnet they locked assets worth $52 million. The mainnet will launch on Polkadot and Kusama.<\/p>\n<p>Earlier, Algorand <a href=\"https:\/\/u1f987.com\/en\/news\/algorand-protocol-updated-to-facilitate-defi-app-development\">announced<\/a> an update to its protocol, which will expand the platform&#8217;s capabilities in supporting complex DeFi applications, scalable to \\&#8221;tens of millions of transactions per day\\&#8221;.<\/p>\n<p>Subscribe to ForkLog\u2019s channel on <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Polkadot-based DeFi protocol Acala raised $7 million through the sale of SAFT contracts as part of a Series A funding round.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1461],"class_list":["post-27880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-polkadot-dot"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27880"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27880\/revisions"}],"predecessor-version":[{"id":27881,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27880\/revisions\/27881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}