Track live crypto price of 10000+ coins!
First stablecoin сross-network integration in DotSama ecosystem is about to happen
The integration of aUSD stablecoin took place for Moonriver yesterday and will happen today for Moonbeam. This marks the first cross-network integration for the Acala parachain stablecoin in the DotSama (PolkaDot + Kusama) ecosystem.
— Moonbeam Network (@MoonbeamNetwork) May 31, 2022
Let’s try to understand in detail what it is and what it means for the whole DotSama ecosystem.
Acala, aka the most wealthy project on Polkadot
Acala, the first project to win the Polkadot parachain slot auction, is positioning itself as an Ethereum-compatible smart contracts platform optimized for DeFi. The platform offers a number of financial products, which include its own decentralized stablecoin, aUSD.
At the end of March, Acala launched a $250 million ecosystem fund to drive adoption of aUSD and accelerate the development of decentralized apps that use the stablecoin on Polkadot. A number of industry companies participated in the ecosystem fund, including such prosperous names as Alameda Research, Arrington Capital, Digital Currency Group, Kraken Ventures and Pantera Capital.
Finally, the adaptation of aUSD reached the next level when it became known that the stablecoin will launch once on two Polkadot networks: Moonbeam and its “sister” Moonriver. Integration will be processed via a third cross-chain DEX protocol based on Polkadot, Zenlink.
It seems that Polkadot with Kusama and their internal projects have also decided not to lose their heads in a bear market and start building the dip. Perhaps this news will make ecosystem fans happy, but it seems like so many networks and integrations between them are confusing them more and more.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: