The Acala Network’s decentralized finance protocol raised $ 1.28 billion in the first Polkadot parachain auction, and the Moonbeam smart contract platform could win the second auction.
Acala Network, the DeFi protocol running on the Polkadot network,
collected 32 million DOT worth about $ 1.28 billion from 24,934 participants through an initial token offering (ICO). Acala will need to pay DOTs requested from investors, user hotspots are locked for the duration of the lease agreement for Polkadot’s parallel chains for sale.
Polkadot is a smart contract-based blockchain network that allows users to transfer assets between parachains. The first parachain auction began on November 11. While the technology is still under active development, projects on Polkadot have already raised over 87 million DOT or $ 3.44 billion. The second Polkadot parachain auction continues, with the projected winner of the second auction being the Moonbeam smart contract platform, compatible with the Ethereum virtual machine.
The Moonbeam platform has already raised 34 million DOT (about $ 1.35 billion) in an auction from 46,000 participants. Investors will receive one Moonbeam (GLMR) token for each DOT coin, with 30% of the rewards available immediately and the remaining 70% donated to investors within 96 weeks.
Recall that in August, the developers of the Acala Foundation launched the Karura decentralized exchange on the Kusama test network of the Polkadot project.
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