On Thursday morning, Acala, a decentralized finance (DeFi) protocol operating on the (DOT) network, announced it had won the first-ever Polkadot parachain auction.
Acala raised a total of 32.5 million DOT, worth roughly $1.28 billion, from 24,934 contributors via an initial coin offering (ICO) structured as a crowdloan. As the proceeds are classified as ‘crypto debt,’ Acala would eventually need to pay back the DOT it had solicited from investors. Users’ DOT are locked for the duration of the rental agreement for Polkadot’s parallel chains up for sale.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
