acala

Polkadot ecosystem DeFi network Acala stated that after seven years of development, Acala and its sister network Karura located in Kusama are entering the final phase. Under the premise that Acala's referendum No. 195 and Karura's referendum No. 137 are passed, both networks will cease operations on February 10, 2027. After this date, Acala and Karura will no longer produce new blocks.Users need to withdraw DOT, KSM, and assets bridged from other chains, such as USDT and USDC, from Acala and Karura before February 10, 2027. LDOT unbonding requires 28 days and must be initiated before January 12, 2027; if LDOT is locked with a validator, an additional 28 days is needed for unlocking, which must be completed before December 16, 2026. LKSM unbonding requires 7 days and must be initiated before February 2, 2027.ACA and KAR are the native tokens of the two networks and cannot be withdrawn; they will remain on their respective chains. For external assets that have not been withdrawn before the deadline, the team will return them as much as possible; as a last resort, recoverable assets can be returned to the same account's address on the Polkadot or Kusama Asset Hub, but not all assets can be returned in this way. Acala was founded by Bryan, Ruitao, and Bette, who initially developed the synthetic assets and margin trading project Laminar, and later, at the invitation of the Web3 Foundation, built the Polkadot ecosystem stablecoin, evolving into Acala.

ChainCatcher news, according to the popularity index data from the Web3 asset data platform RootData, as of December 16 at 9:50, Acala has surged 400 places in the Top 50 ranking of skyrocketing projects, with the token ACA experiencing a 24-hour increase of 17.5%.Acala is a decentralized, scalable Layer 1 smart contract platform that is Ethereum-compatible and optimized for DeFi, powering the aUSD ecosystem, and aims to become the financial center of the Polkadot ecosystem. With Acala EVM+, it supports developers to enjoy the advantages of Ethereum and the full functionality of Substrate while using the aUSD ecosystem.It is reported that RootData has launched the first "Web3 Popular Projects Ranking." This popularity ranking helps users capture the real pulse of attention through 4.3 million real user behavior data, improving the accuracy of user investment decisions. The ranking is calculated in real-time based on weighted factors such as the frequency of searches by platform users, project click rates, user votes, and the popularity and influence on the X platform.

ChainCatcher message, according to the popularity index ranking data from the Web3 asset data platform RootData, as of November 18 at 10:20, the top five projects in the Web3 popular projects Top 100 are: Pipe Network, BIO Protocol, MANTRA, Bless, DEXX.In addition, Acala has seen the largest ranking increase, rising 914 places overall.It is reported that RootData has launched the first "Web3 Popular Projects Ranking." This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking will be calculated in real-time based on the weighted frequency of platform users' searches, project click rates, user votes, as well as the popularity and influence on the X platform.

ChainCatcher message, the Acala community has initiated a proposal to "shorten the staking unlock period of ACA." This proposal suggests reducing the staking unlock period of ACA from the current 28 days to 14 days, aiming to enhance the liquidity and flexibility of stakers while maintaining the stability of the staking mechanism.

ChainCatcher news, the Polkadot ecosystem DeFi protocol Acala announced that participants in the Acala Network can receive an airdrop of the Polkadot ecosystem Meme token PINK. Among this, 25% is allocated to ACA stakers, 20% to Euphrates users, 15% to Acala NFT holders, 10% to LDOT holders, 10% to tDOT holders, 10% to aSeed holders, 5% allocated to DOT in the Starlay pool, and 5% to DOT/LDOT LP providers in the DEX. The snapshot for Acala's PINK airdrop has not yet been taken and will be captured closer to the token launch date.It is reported that according to the economic model of PINK, the total supply of its tokens is 2,300,001,221, of which 50% is allocated for airdrops. This airdrop is the second batch, distributing 12.5% of the total supply to the parachain teams, with Acala receiving 0.74% of the total supply.

ChainCatcher news, the Polkadot ecosystem DeFi protocol Acala tweeted that it plans to burn 159,441 ACA on December 26.Acala stated that the ACA burn is part of Acala 2.0, and the specific amount burned each time is determined by factors such as the number of unused released tokens, network fees, and governance votes.

ChainCatcher message, Polkadot ecosystem DeFi protocol Acala tweeted an update on Acala 2.0 progress, including: ACA staking feature is now live; 222,280 ACA have been burned, the next token burn will occur in 26 days; ACA-USDC liquidity pool is live, with LP incentives yielding over 200% annualized returns; single-sided DOT and LCDOT staking launched on the liquidity incentive platform Euphrates; currently, 4.2 million DOT have been staked through Euphrates.

According to ChainCatcher news, data from Token Unlocks shows that tokens from 9 crypto projects will be unlocked all at once this week, with dYdX, Optimism, and Hedera experiencing significant unlocks.On August 28 at 8:00, SingularityNET will unlock 9.82 million AGIX (worth approximately $1.76 million), accounting for about 0.8% of the circulating supply;On August 28 at 20:00, Galxe will unlock 586,000 GAL (worth approximately $668,000), accounting for about 1.26% of the circulating supply;On August 29 at 23:00, dYdX will unlock 6.52 million DYDX (worth approximately $14.41 million), accounting for about 3.76% of the circulating supply;On August 30 at 12:00, Optimism will unlock 24.16 million OP (worth approximately $35.03 million), accounting for about 3.37% of the circulating supply;On August 31 at 6:20, Euler will unlock 156,000 EUL (worth approximately $377,000), accounting for about 0.84% of the circulating supply;On August 31 at 8:00, Nym will unlock 25 million NYM (worth approximately $3.46 million), accounting for about 4.73% of the circulating supply;On August 31 at 8:00, 1inch will unlock 64,000 1INCH (worth approximately $15,000), accounting for about 0.01% of the circulating supply;On September 1 at 8:00, Hedera will unlock 1.15 billion HBAR (worth approximately $67.23 million), accounting for about 3.48% of the circulating supply;On September 1 at 15:00, Acala will unlock 27.43 million ACA (worth approximately $1.24 million), accounting for about 3.43% of the circulating supply.

ChainCatcher message, Acala official tweeted that if the community vote passes, the Exodus upgrade will take place on August 15. This upgrade will optimize network growth, sustainability, and security, and will enhance the utility of ACA through staking and adjusting incentives.In addition, 50% of the ACA unlocked each year will be used for ACA staking, while 50% will be reserved for liquidity mining for liquidity pools and dApps built on the Universal Asset Hub (UAH). Some unused ACA will be used for burning, such as burning 1% monthly, and a portion of accumulated network fees over time will also be burned through governance, such as burning 20% every six months.

ChainCatcher news, according to data from Token Unlocks, this week 6 cryptocurrency projects will undergo token unlocks, releasing a total value of over 30 million dollars.Acala(ACA) will unlock 27,433,333 tokens on May 1 at 15:00, worth approximately 2.3 million dollars, accounting for 2.743% of the total supply;[1inch](https://www.rootdata.com/zh/Projects/detail/1inch Network?k=MTIzOQ==)(1INCH) will unlock 21,429 tokens on May 1 at 20:00, worth approximately 10,000 dollars, accounting for 0.001% of the total supply;Nym(NYM) will unlock 73,750,000 tokens on May 3 at 08:00, worth approximately 16.5 million dollars, accounting for 7.375% of the total supply;Liquity(LQTY) will unlock 657,350.92 tokens on May 5 at 08:00, worth approximately 1.19 million dollars, accounting for 0.657% of the total supply;Galxe(GAL) will unlock 7,614,266.67 tokens on May 5 at 20:00, worth approximately 13.7 million dollars, accounting for 3.807% of the total supply;[Tornado Cash](https://www.rootdata.com/zh/Projects/detail/Tornado Cash?k=NDA5)(TORN) will unlock 175,000 tokens on May 7 at 11:29:50, worth approximately 1.4 million dollars, accounting for 1.75% of the total supply. (Source link)

ChainCatcher message, from the Polkadot ecosystem, seven teams Acala, Astar, Interlay, KILT Protocol, Moonbeam, Subscan, and Phala announced the establishment of the Polkadot Alliance, aimed at creating and maintaining a set of ethical guidelines for the community to follow.It is reported that the alliance will exist on-chain, form ethical guidelines regarding brand usage, investigate fraudulent activities and harmful behaviors, while also recognizing those teams that have made positive contributions to the development of the Polkadot network. (source link)

Chain Catcher news, Acala official announced that the third phase of voting for resuming operations has been passed. Functions such as oracle, liquidation, and CDP lending are expected to resume at block height 2003000, around 9:07 AM Beijing time on October 5. (source link)

Chain Catcher News, Acala has passed and executed the second phase of the community vote for restoring operations. Vault owners can manage debt positions to ensure that the positions are secure before the liquidation is enabled in the third phase. Services such as DEX trading, transfers, LDOT instant redemption, XCM, EVM+, etc., have also been restored. Additionally, due to the oracle being disabled, users need to assess the vault value at the current market value. The oracle, liquidation, and CDP lending will be enabled in the third phase.It is reported that on September 26, Acala passed the first phase vote for restoring operations, allowing LPs to withdraw liquidity. (Source link)

Chain Catcher news, the Acala community today initiated the second phase of voting to restore operations. Once the vote passes, most services (DEX, CDP repayment/closure/withdrawal, transfers, xcm, EVM+, etc.) will begin to resume from block #1960470, and the network may restart at 10:27 AM Beijing time on September 29, 2022.In addition, functions such as oracles, liquidation, and CDP lending will not be enabled until the third phase. The second phase provides vault owners with an opportunity to secure their debt positions before the oracle starts providing market prices. Previous report, the first phase of voting for Acala's restoration of operations has passed, and LP holders can withdraw liquidity. (Source link)

Chain Catcher news, the first phase of voting for Acala's resumption of operations has now started, and its LP holders can withdraw liquidity after block height 1939200.According to previous reports, Acala plans to launch the Acala network in phases. The first phase will allow LPs to withdraw liquidity from the liquidity pool, the second phase will enable all functions except for oracles, and the third phase will enable oracles. (Source link)

Chain Catcher news, Acala has announced a progress update following the abnormal minting incident. The network is currently in a state of preparing to resume operations, with plans to launch the Acala network in phases. Phase 1 will allow LPs to withdraw liquidity from the liquidity pool, Phase 2 will enable all operations except for oracles, and Phase 3 will enable oracles.Acala stated that the current total circulating supply of aUSD is 10,961,589, of which 5,837,712 aUSD needs to be re-collateralized and has been fully collateralized. The Acala Foundation used its own funds (3,794,703 USDC and 42.7M ACA) as collateral to borrow 5,837,712 aUSD through a CDP, and then burned the aUSD to achieve re-collateralization. The aUSD funds are a donation from the Acala Foundation to the network. The Acala Foundation will also manage the CDP positions and the related aUSD debt repayments.Additionally, multiple liquidity pools in Acala Swap have been re-capitalized and rebalanced to pre-incident levels, including the aUSD/LDOT pool, aUSD/iBTC, aUSD/LCDOT, ACA/aUSD, aUSD/INTR, and DOT/LCDOT. The Acala Foundation provided the following funds for the re-capitalization and rebalancing of the liquidity pools: including 2,489,614 ACA, 80,853 DOT, 0.164 iBTC, 995,020 INTR, and 530,700 LDOT.The Acala Foundation will continue to work with legal, law enforcement, and other partners to retrieve all incorrectly minted aUSD and mis-minted exchange tokens and return them to the protocol. Currently, some assets have been frozen on-chain through community governance voting, and some assets are frozen in multiple CEXs. (Source link)

According to ChainCatcher news and reported by CoinDesk, the cryptocurrency exchange KuCoin recently stated that the data in the Acala community proposal is inaccurate. This proposal aims to recover aUSD worth billions of dollars that was incorrectly issued during a vulnerability in mid-August. KuCoin indicated that hackers sent $8.03 million to KuCoin, not $4.937 million, and traded $5.3 million on the platform, not $1 million.Acala released a complete report on the aUSD incident yesterday, stating that aUSD has basically regained its peg, with a current price of $0.99. Acala will await a collective governance decision from the community regarding the incorrectly minted tokens. (CoinDesk)

Chain Catcher news, Acala has released the complete aUSD incident report. Currently, there are 52 million aUSD erroneous minting that have not been completed, involving a total of 281 addresses. The remaining traceable erroneous minting on these addresses is 42.48 million, of which 8.764 million aUSD is left on various addresses, while the rest is located in the DEX module address.It is reported that aUSD has basically regained its peg, with the current price at $0.99. Acala will wait for the community to make a collective governance decision regarding the erroneously minted tokens. (Source link)