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DeFiLayer-1Stablecoins

Acala: Polkadot's (Likely) Inaugural Tenant

Kusama has completed its first batch of parachain auctions and proven the effectiveness of its highly anticipated crowdloan mechanism. The first 5 slot winners in order:

  • Karura a Defi protocol with 501,138 KSM bonded
  • Moonriver an Ethereum-compatible protocol with 205,935 KSM bonded
  • Shiden a multi-chain dapp hub with 137,020 KSM bonded
  • Khala a cloud computing protocol with 132,280 KSM bonded
  • Bifrost a staking liquidity Defi protocol with 136,817 KSM bonded

Users have contributed 1,113,190 KSM across the first 5 parachain auctions representing over 10% of KSM’s supply. At the time of writing, KSM is valued at $200.46, meaning contributors have bonded (or loaned) $223,149,867 to bootstrap Kusama’s first projects.

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Nick is a Research Manager. Prior to joining Messari, Nick worked in Deloitte's Consulting practice.

Mentioned Assets
Outline
  • Polkadot - A Meta-Protocol
  • Acala - The Defi Hub of Polkadot
  • Acala Treasury
  • Acala EVM
  • ACA - Acala Token
  • Challenges & Competitive Landscape
  • Conclusion
Author
Nick is a Research Manager. Prior to joining Messari, Nick worked in Deloitte's Consulting practice.
Mentioned Assets