Launching Astar x Acala DeFi Rising Campaign
DeFi Rising is a program to celebrate parachain projects connecting to Astar, starting with Acala. This is a long-term multi-project program for long-term rewards!
Together with Acala, we are launching Astar x Acala DeFi Rising–solidifying one of our most important partnerships. Acala is pivotal to the booming ecosystem of dApps on Astar. Why? Because they have a suite of flexible financial products that serve the Polkadot network. Our two communities will be able to explore Astar’s vibrant DeFi ecosystem using Acala native assets, like aUSD, LDOT, and ACA, while receiving extra ACA and additional rewards from various Astar ecosystem teams.
What is Acala?
Acala is a decentralized finance network powering financial applications on Polkadot and home to aUSD stablecoin. Acala began building with Substrate (Polkadot SDK) nearly 4 years ago, making them a pioneer of the Polkadot ecosystem and a valuable partner.
aUSD stablecoin is the native, decentralized stablecoin of the Polkadot and Kusama ecosystems. The stablecoin is multi-collateralized and maintains a peg relative to the US Dollar. aUSD allows the Astar community to transact, trade, and facilitate services while hedging against market volatility. Acala’s suite of DeFi products extends beyond just aUSD as Polkadot liquid staking was introduced recently. Liquid staking allows the user to stake on the relay chain to ensure security while staying liquid with LDOT–a token backed by staked DOT. When you stake your DOT on Acala, you receive the LDOT token as a receipt.
Building a Strong Ecosystem through XCM
DeFi Rising is our first step to building innovation by leveraging the power of Cross-Consensus Message Format (XCM). Establishing Astar as the future of smart contracts for multichain requires having deep liquidity of institutional-grade assets, like aUSD and LDOT, for our builders to work with. Astar developers can build new dApps on top of Acala’s reliable assets, providing a foundation to expand our network. In return, our ecosystem will build the early use-cases needed for aUSD mass adoption across the multichain future.
In fact, if your project will add utility to aUSD on Astar Network, then apply for Acala’s $250M aUSD Ecosystem Fund and Astar’s SpaceLabs program. Together we are supporting developers building the future of Polkadot through Acala’s grants and our dApp staking initiative.
Why this matters to the Polkadot ecosystem?
As this is the first official collaboration between two parachains on Polkadot, our initiative will highlight the capability of Polkadot to execute trustless and decentralized cross-chain transfers through XCM. With two of the biggest parachains working together, the potential of XCM to build value across ecosystems will be recognized by the builders outside of Polkadot–gaining their attention is a step towards expanding the developers-first Dotsama ecosystem.
Astar x Acala DeFi Rising
Astar x Acala DeFi Rising Campaign will invite major dApps on Astar to integrate with native Acala assets (i.e. aUSD, LDOT, and ACA) by offering extra incentives to eligible pools. It takes off on August 10, as ArthSwap–the one-stop DeFi on Astar Network–joins this campaign as the first project of Astar x Acala DeFi Rising!
Follow our social media: More Astar ecosystem projects are on the horizon! We will update as new projects join the campaign.
The extra incentives for this campaign will consist of increased token rewards from Astar dApps and ACA provided by Acala. Details for the first eligible pools are:
aUSD-WASTR Pool
Start: August 10
Rewards: Increased ARSW + ACA Rewards
End: October 04
LDOT-WASTR Pool
Start: August 17
Rewards: Increased ARSW + ACA Rewards
End: October 04
Users supplying liquidity to aUSD/wASTR and LDOT/wASTR pools on ArthSwap will be eligible for additional ACA incentives.
Join the Astar x Acala 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
2. XCM Transfer aUSD, ACA, LDOT from Acala to Astar
3. Provide aUSD or LDOT liquidity on ArthSwap
- Guide: Stake aUSD/WASTR on ArthSwap
About Acala
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.
Linktree | Discord | Website | Twitter | GitHub | Wiki | Newsletter | YouTube
About Astar
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.
