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HomeCrypto NewsMarketAcala Network (ACA) First Project To Win Polkadot Parachain Auction Listed By Binance, Kraken, Huobi, Kucoin, Gate.io, And OKEx

Acala Network (ACA) First Project To Win Polkadot Parachain Auction Listed By Binance, Kraken, Huobi, Kucoin, Gate.io, And OKEx

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As the first project to win the Polkadot Parachain Location Auction, Acala has launched a DeFi-focused network on the mainnet.



In one tweet, On Jan. 25, Acala Network announced that its ACA token was “launched,” while the team’s Chief Growth Officer, Dan Reecer, notice The network is preparing to go live today.

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“Acala is building on a vision of HyFi, aka Hybrid Finance, connecting the world of Fintech Web2 and next-gen banking with DeFi to deliver better returns and financial outcomes for users. Don’t use cryptocurrencies and don’t need to touch complicated crypto technology like MetaMask or private keys,” he wrote.

 

Acala Potential Entices Crypto Exchanges

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As Acala goes live on Polkadot, Popular cryptocurrency exchange Binance today announced the listing of Acala Network (ACA). The coin debuted on the world’s largest cryptocurrency exchange on January 25, 2022, at 12 PM (UTC). 

Following the announcement, Binance users can now trade the cryptocurrency against three trading pairs such as ACA/BTC, ACA/USDT, and ACA/BUSD. 

Like other cryptocurrencies that made their debut on the Binance trading platform, the exchange noted that withdrawal of ACA will begin in the next 24 hours after trading opens. 

Notably, Binance users who participated in the Polkadot Parachain Slot Auctions and voted in favor of Acala Network are urged to visit the Polkadot auction page to claim their ACA reward. 

The cryptocurrency’s potential has seen it grow in popularity in the market within a short time. Cryptocurrency exchanges like KuCoin, Gate.io, OKEx, and Huobi Global followed Binance to list the coin on their various trading platforms. 

KuCoin added ACA/USDT ACA/BTC trading pairs. Gate.io listed ACA/USDT trading pair, While Huobi Global listed Acala in the pioneering zone under ACA/USDT pair.

Most recently Kraken joins other exchanges in listing Acala.

Acala Network is a decentralized finance (DeFi) smart contract platform operating as a Polkadot para chain. The project’s native cryptocurrency – ACA – can be used to mint stablecoins, pay transaction fees, earn rewards via staking, and give holders voting rights to decide what happens in the project. 

 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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