OriginTrail to Launch on Acala, Bringing its Decentralized Knowledge Graph to Acala’s Developer Ecosystem
Today, we are incredibly pleased to announce that we are partnering with Acala, the DeFi and liquidity hub of Polkadot, and will be integrating our multi-chain Decentralized Knowledge Graph with their platform. This integration will place our global mesh network of indexable assets (real world and digital) and data into the hands of developers in the Acala ecosystem.
Meet Acala
Acala is the decentralized finance network and liquidity hub of Polkadot. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications. With its trustless exchange, decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT), and EVM+, Acala lets developers access the best of Ethereum and the full power of Substrate.
Acala was founded in Oct 2019, has received several Web3 Foundation grants, has backing from Coinbase Ventures, Pantera Capital, Polychain Capital, Digital Currency Group, Arrington XRP Capital, and other top firms, and has a distributed team in New Zealand, China, Europe, South America, and the United States.
Acala are the first ever winners of a Polkadot parachain slot, with their bid attracting approximately USD 1.3 billion from 81,000 unique wallets.
Bringing a Knowledge Graph to Acala Developers
OriginTrail is entering the Polkadot ecosystem in a variety of ways. Our core team has been working directly with Parity Technologies on a Substrate “pallet” for the DKG. This will essentially create a DKG “lego” that any Polkadot parachain can integrate by upgrading their chain (without the need to fork).
Other ecosystem integrations and use cases include;
- Bridging the TRAC token to Acala for a potential listing as an accepted fee token, as well as giving any DApp on Acala the ability to integrate TRAC (money markets, DEXs, etc.)
- Integrating the OriginTrail Substrate pallet into Acala’s parachain, enabling any DApp developer to leverage information from the DKG
- Integrating OriginTrail smart contracts into Acala’s EVM+ development environment
- Integrating Acala’s aUSD stablecoin into the OriginTrail ecosystem to be used by network participants, node operators, and other use cases
This integration will also enable a plethora of use cases that combine Acala’s economy of assets with our queryable and indexable network of assets. Effectively, this will mean that the DKG will be able to access information about Acala-linked assets on other blockchains and even off-chain, physical assets. This could unlock use cases such as collateralizing real world assets like stock portfolios or IRAs for minting a stablecoin loan, querying real world events for use within prediction markets, or querying for a real estate property based on a verified attestation from data suppliers.
Implementation Plan
Acala’s expected launch date on Polkadot is December 18, 2021. Acala will begin rollout of its layer-1 blockchain platform as well as its products: aUSD decentralized stablecoin, EVM+ environment, liquid DOT staking (LDOT), and Acala Swap, an AMM-style DEX. All of Acala’s products are built into the blockchain itself so that developers in the Acala EVM+ can leverage the liquidity and functionality out of the box. Following Acala’s launch rollout, Acala and OriginTrail will begin working through the various integrations detailed above.
See the video below to hear OriginTrail Co-founder and CTO Branimir Rakić and Acala VP of Growth Dan Reecer discuss OriginTrail, what a Decentralized Knowledge Graph is and how Acala ecosystem developers will leverage it, and discuss details around the integration between OriginTrail and Acala.
OriginTrail Parachain
Additionally, to seamlessly integrate with Acala’s economy of assets, we plan to further the network effects made possible by the OriginTrail Decentralized Knowledge Graph through deployment of a dedicated OriginTrail parachain. This purpose-built parachain will enable increased utility of the OriginTrail Decentralized Knowledge Graph as it moves forward into a semantic web3 ecosystem powering the next generation of physical and digital assets. To learn more about the OriginTrail parachain bid and the utility it will unlock make sure to visit this link and subscribe for further updates.
We couldn’t be more excited to take the next big step forward into powering the future of assets with a strong and exciting partner such as Acala. Make sure to stay tuned for future updates regarding the OriginTrail DKG and Acala integration, the OriginTrail parachain bid, and the resulting use cases and value it will create not only for the Polkadot and cryptocurrency space, but for the entire ecosystem of billions of digital and physical assets we aim to link together in a global Decentralized Knowledge Graph.
This is just the beginning.
