Acala protocol
Overview
Acala is a decentralized finance hub that operates as a parachain on the Polkadot network. It provides a suite of DeFi applications including a multi-collateral stablecoin (aUSD), a decentralized exchange, and a liquid staking derivative for DOT. In August 2022 a misconfigured liquidity pool let attackers erroneously mint over a billion aUSD, breaking the stablecoin's dollar peg; aUSD has not sustainably recovered since, and Acala's on-chain activity has declined significantly.
Relations
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Frequently asked questions
What is Acala?
Acala is a decentralized finance hub that operates as a parachain on the Polkadot network.
What DeFi applications does Acala provide?
Acala provides a suite of DeFi applications including a multi-collateral stablecoin (aUSD), a decentralized exchange, and a liquid staking derivative for DOT.
What chain does Acala run on?
Acala operates as a parachain on the Polkadot network.