Launching Astar x Acala DeFi Rising to Accelerate DeFi on Polkadot
In collaboration with Astar, Acala is excited to launch Astar x Acala DeFi Rising campaign! By leveraging XCM and Polkadot’s trustless and interoperable network, Acala and Astar will combine forces to create several new cross-chain use cases and aUSD liquidity pools in the Astar ecosystem. The Acala and Astar communities will enjoy access to new launches on several Astar ecosystem projects, starting with ArthSwap liquidity pools incentivized with ACA and other token rewards. Integrating Acala assets into Arthswap and other ecosystem DApps with tokens including aUSD, ACA, and LDOT, helps create a strengthened connection between the Acala and Astar ecosystems that will continue for years into the future.
Astar x Acala DeFi Rising celebrates Astar projects integrating native Acala assets and is a long-term campaign with long-term rewards.
How to Join the DeFi Rising Campaign
Here is a step-by-step tutorial on how to join this campaign:
1)Acquiring aUSD or LDOT:
- Guide: Open vault to mint aUSD
- Guide: Stake and receive LDOT
- Get aUSD on Acala Swap or Kucoin without minting
ArthSwap kicks off DeFi Rising and will be the first native Astar DApp to integrate Acala assets on August 10.
Astar links the Polkadot ecosystem to Layer-1 blockchains like Ethereum and Cosmos and provides developers with interoperability, cross-consensus messaging, and support for DApps development using EVM and WASM smart contracts. Through the Build2Earn concept from Astar, programmers earn from the code and DApps they create.
Astar’s dynamic ecosystem has emerged as a vibrant Polkadot parachain and arms developers with the versatility and flexibility of Ethereum and WASM tooling to create their DApps. If you are interested in building on Astar network then join the Spaclabs Program for support.
Acala and Astar: Helping to build a Greater Web3
Astar, through Polkadot’s Cross-Consensus Message Format (XCM), wants to deliver interoperability to developers, and integrating aUSD, the native stablecoin of the Polkadot and Kusama ecosystems, is a crucial component. For Acala, the mass adoption of aUSD is strengthened by further parachain integrations, especially in strong DApp ecosystems like Astar.
Acala and Astar will integrate resources in the initial stage of the collaboration and utilize various DeFi protocols. aUSD, ACA, or LDOT will be integrated into DEXs like ArthSwap or money market protocols on Astar. Also, Karura Swap will list SDN on Acala before listing ASTR on Acala Swap which will bring Astar ecosystem assets to Acala.
Impacting Growth on Polkadot
The DeFi Rising campaign contributes to Polkadot’s status as a hub for businesses, developers, and communities. Through cooperation among two of its two biggest parachains, XCM’s ability to create value across ecosystems will be key to future creative use cases and leveraging resources between Acala and Astar.
Stay tuned for new projects joining the DeFi Rising campaign!
Build on Acala
Earlier this year, Acala teamed up with 9 parachains including Astar to launch the aUSD ecosystem fund. If you’re a team in the Astar or Acala ecosystem looking to build with the aUSD stablecoin, you are eligible to get funding from the $250 million aUSD Ecosystem Fund. Please get in touch with our team to chat about how we can support you.
Astar Network — The Future of Smart Contracts for Multichain. Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability with cross-consensus messaging (XCM). We are made by developers and for developers. Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for the code they write and dApps they build.
Astar’s vibrant ecosystem has become Polkadot’s leading Parachain globally, supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps. To accelerate growth on Polkadot and Kusama Networks, Astar SpaceLabs offers an Incubation Hub for top TVL dApps.
Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.