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Coinbase Ventures Backs Acala on Polkadot

Coinbase Ventures is funding Acala, a DeFi hub for the Polkadot network, according to a blog post from the company. Coinbase Will Support Acala “This week, the investment arm of Coinbase has announced their support for Acala, the all-in-one DeFi hub of Polkadot,” Coinbase wrote in its blog post. “This investment also supports Karura, the DeFi hub of Kusama being built by the Acala team.” Coinbase did not say how much it will invest in each project, or how those funds will be used. However, it did note that Acala will need to win a parachain slot auction on Kusama…

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Polkadot moves towards sharding as Acala Network secures first Rococo parachain slot

Polkadot’s vision for a sharded parachain ecosystem is moving toward becoming a reality. The Polkadot ecosystem continues to progress, with DeFi platform Acala Network becoming the first to win a parachain slot on the Rococo testnet. Acala, the self-described decentralized finance hub for Polkadot, announced it had secured the slot on March 26. Acala has won the first parachain slot auction on @Polkadot testnet Rococo, and now Acala occupies the first public parachain slot on Rococo . Keep on building ️ pic.twitter.com/EscaM8dGqQ— Acala - DeFi Hub of Polkadot (@AcalaNetwork) March 26, 2021 Acala was launched in January 2020, with the…

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A DeFi-Focused Consortium Is the First Parachain to Launch on Polkadot’s Rococo Testnet

Acala — a decentralized finance (DeFi) consortium and a cross-chain hub planning to bring stability, interoperability, and liquidity to the mainstream, has launched the first shard — or Parachain, on the Rococo Testnet as per an update on Aug 21. The test network is the first on Polkadot — an interoperable sharded network; and isRead MoreRead More. The post by Dalmas Ngetich appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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