Explore Acala: Part One — Platform Features

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Acala

4 min readMay 19, 2024

Welcome to part one of the “Explore Acala” editorial series, where we dive into the various features and functionalities within the Acala Network. In this part, we will cover the core platform features that make Acala a robust and versatile DeFi platform. We will explore the Portfolio management tools, the Acala Bridge, the Acala Swap (DEX), ACA staking, and liquid staking options available on Acala.

Portfolio Management

Acala’s Portfolio management feature provides a comprehensive view of your digital assets within the Acala ecosystem. Accessible through the Portfolio tab on the Acala Platform, this tool allows you to:

View Tokens: Monitor all the tokens you hold in your substrate account.
Active DeFi Positions: Keep track of your active positions in various DeFi activities.
Customization: Filter, hide, or favorite certain tokens for easier management.
Transfers and Bridging: Transfer or bridge tokens directly from the portfolio management page.
Acala NFTs: A tab to manage your NFTs within the Acala ecosystem.

With these capabilities, managing your digital assets on Acala becomes intuitive and streamlined.

ACA Staking

ACA staking is a vital component of the Acala Network, offering users the opportunity to support the network while earning rewards. Key features include:

Staking Rewards: Earn rewards for securing the network.
Loyalty Program: A loyalty program rewards users who stake for longer periods, discouraging quick withdrawals.
Governance Participation: Staked ACA retains full voting power, allowing you to participate in governance decisions.

Staking ACA not only helps secure the network but also provides a steady stream of rewards, making it a compelling option for long-term holders.

Acala Bridge

The Acala Bridge enables seamless transfer of assets across multiple networks, including the Polkadot Relay Chain, various Parachains, and external networks like Ethereum. Features of the Acala Bridge include:

Multi-Network Support: Transfer assets between Polkadot, Ethereum, and other supported networks.
Fee Transparency: View a detailed breakdown of transfer fees based on the involved chains.
User-Friendly Interface: Easily initiate and manage bridge transactions.

Powered by Acala and integrated with Wormhole for certain networks, the Acala Bridge ensures that moving assets across different blockchain ecosystems is efficient and straightforward.

Acala Swap (DEX)

Acala Swap is the native decentralized exchange (DEX) of the Acala Network, allowing users to trade a variety of tokens. Highlights of Acala Swap include:

Token Variety: Swap between tokens like DOT, LDOT, ACA, USDCet, aSEED, iBTC, INTR, and future assets.
Liquidity Provision: Provide liquidity to earn a portion of the transaction fees (0.3% swap fee) proportional to the amount provided.
Fair Pricing: New token pairs are bootstrapped before going live to ensure fair pricing.

Acala Swap offers a seamless and efficient way to trade tokens within the Acala ecosystem, benefiting both traders and liquidity providers.

Liquid Staking

Liquid staking on Acala allows you to stake DOT and receive liquid staking tokens, enabling you to participate in other DeFi activities while still earning staking rewards. The main liquid staking products include:

Liquid DOT (LDOT): Stake DOT to receive LDOT, which can be used in other DeFi protocols.
Taiga DOT (tDOT): A synthetic token representing the LDOT/DOT LP, benefiting from both DOT staking rewards and trading fees within the LP pair.

Additionally, the Bridge + Stake feature allows you to stake DOT directly from Polkadot, HydraDX, or Moonbeam, simplifying the staking process.

Conclusion

The Acala Network offers a rich array of platform features designed to empower users in the DeFi space. From managing your portfolio and staking ACA to bridging assets, trading on the DEX, and engaging in liquid staking, Acala provides the tools and flexibility needed to maximize your digital asset experience.

Stay tuned for the next segment of “Explore Acala,” where we will delve into more advanced features and applications available on the Acala Network.