What is Acala Token?
The Acala Token or ACA is the utility token native to the Acala Network. The latter is a DeFi network with several protocols. It’s deployed on the Polkadot network.
ACA has several use cases. Firstly, it’s used to pay for various fees including transaction fees, stability fees, and penalty fees.
Secondly, the Acala token provides governance rights to its holders. This means that they can cast their vote on various proposals regarding upgrades, parameters, council elections, and treasury governance, among many others.
Moreover, ACA coin holders can also stake their tokens.
Acala Tokens have been distributed as follows:
- 34% - IPO participants, liquidity providers, early participants, oracle operators, and collators;
- 29.13% - Strategic Investors;
- 20.25% - Core Team;
- 11.62% - Acala Foundation Treasury;
- 5% - Acala Ecosystem Development.
The graph above provides a more in-depth look at the Acala Token price history and the current ACA price which can help you to make a more informed decision.
What are the Main Features of Acala Token?
As mentioned in the What is Acala Token section, we’ve established that the Acala crypto project is a decentralized finance network with an integrated suite of products and services. Some of them include DOT Liquid Staking, a trustless exchange, and EVM+. It’s highly scalable and compatible with Ethereum.
Acala comes with its own multi-collateral stablecoin called aUSD. It’s completely decentralized and backed by digital assets.
Who Developed Acala Token?
The Acala Token crypto project was launched in 2019. The author of the project’s whitepaper is the Acala Foundation.
It has received support from major companies including Coinbase Ventures, Pantera Capital, and Polychain Capital.
