Buy Acala Token (ACA)
What is Acala?
Acala is a scalable Layer 1 DeFi network that serves as the liquidity hub of the Polkadot ecosystem. It functions as an interoperability parachain compatible with Ethereum, allowing decentralized finance (DeFi) applications to use Polkadot for exchanging assets or smart contracts with Ethereum via integrated Acala protocols.
How does Acala work?
Acala operates on Polkadot's Substrate framework, which provides it with a robust security architecture and interoperability features. As a parachain within Polkadot, Acala uses the Proof of Stake (PoS) consensus mechanism and is maintained by collators who ensure network stability. It employs Cross-Chain Message Passing (XCM) for seamless transactions across blockchains and supports Ethereum Virtual Machine (EVM) compatibility, facilitating the creation of Solidity-based applications and seamless cross-chain interactions.
What are the potential use cases for Acala?
Acala's potential use cases include:
- Cross-Chain Stablecoin (aUSD): Facilitating stable and secure transactions using its multi-collateral backed stablecoin.
- Liquid Staking (L-DOT): Enabling the use of staked tokens as collateral, thus increasing capital efficiency.
- Decentralized Exchange (DEX): Providing cross-chain asset swaps and enhancing liquidity.
- Institutional Finance: Collaborating with traditional finance sectors through partnerships to integrate DeFi and CeFi solutions.
What is the history of Acala?
Acala was founded in 2019 by Ruitao Su, Fuyao Jiang, Bryan Chen, and Bette Chen. The project has achieved significant milestones, including a $7 million funding round in 2020, led by Pantera Capital. The Acala mainnet was launched with a fixed supply of ACA tokens, and the platform introduced EVM compatibility to enhance its DeFi services and cross-chain interactions. Acala continues to grow and collaborate with partners to expand its ecosystem within the Polkadot network.
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Frequently Asked Questions (FAQs)
What is the current price of Acala Token (ACA)?
The Acala Token price is $0.14095912 AUD, representing a -2.57% from the day prior.
Where is the best place to buy Acala Token (ACA) in Australia?
The best place to buy Acala Token (ACA) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Acala Token (ACA) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Acala Token (ACA)?
The trading volume of Acala Token (ACA) is $8.8M AUD in the last 24hrs, representing a -2.57% from the day prior.
How can I buy Acala Token (ACA)?
Acala Token (ACA) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Acala Token (ACA)?
The current market cap of Acala Token (ACA) is $160.8M AUD.
Can I convert Acala Token (ACA) to cash?
Yes - With Coinstash you can convert your Acala Token (ACA) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Acala Token (ACA) are there?
The current circulating supply of Acala Token (ACA) is 1.1B.
Is Coinstash a safe place to buy Acala Token (ACA) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Acala Token (ACA) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.