Acala Token (ACA) is a DeFi platform designed to create the liquidity layer of Web3 finance and provide infrastructure for traditional financial services. Contributing to the Polkadot ecosystem, Acala grew with support from the Web3 Foundation and private investment rounds, launching on Polkadot in 2021. Supported by the ACA token, the platform aims to be a significant player in the DeFi world with EVM compatibility and an innovative approach. In this article, you can find answers to two frequently asked questions: What is Acala Token (ACA), and how to buy Acala Token (ACA) with TRY.
What is Acala Token (ACA)?Acala is a decentralized finance (DeFi) platform designed to create the liquidity layer of Web3 finance and provide fundamental infrastructure for traditional financial services. This includes tools such as a universal asset hub, a decentralized exchange (DEX), and a multi-chain asset routing bridge. Acala’s Blockchain is EVM compatible, allowing developers to use existing code and skills for seamless integration and continuous upgrades. The platform is supported by the ACA token, which plays a crucial role in its operations.
Founded by the Acala Foundation, a joint effort between Polkadot development groups Laminar and Polkawallet, Acala aims to create decentralized financial markets among various Blockchains connected by Polkadot’s Relay Chain. The network is designed as a public and operated foundational financial layer using Polkadot’s Substrate framework. While Acala primarily focuses on financial applications, it continues to pursue interoperability initiatives and expand its development capabilities to enhance its ecosystem and reach.
Acala received a development investment from the Web3 Foundation in 2019 to start its journey. The Web3 Foundation supports projects developing open-source decentralized applications (dApps) contributing to the Polkadot ecosystem. Acala’s stablecoin system, liquidity staking platform, and decentralized exchange are envisioned as the foundation of DeFi activity within the Polkadot network. This investment marked the beginning of Acala’s development towards becoming a significant player in the DeFi space.
Since its establishment, Acala has secured additional investments and private investment rounds. Following the initial investment in 2019, Acala received two more grants from the Web3 Foundation, highlighting the project’s potential and progress. Acala’s Seed and Series A fundraising rounds were led by renowned crypto investment firms Polychain Capital and Pantera Capital, respectively.
Acala’s innovative approach and robust development have made it a significant player in the DeFi world. The network aims to offer a comprehensive financial services package bridging traditional finance and DeFi, launching on Polkadot in 2021. With a strong foundation and continuous support from the Web3 Foundation and leading investors, Acala significantly impacts the future of DeFi.
How to Buy Acala Token (ACA) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Acala Token (ACA). Over 100 cryptocurrencies, including ACA, can be bought and sold on Binance TR, where accounts can be created quickly. To buy Acala Token (ACA) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. To do this, go to the trbinance.com address and continue from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that must be performed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to verify from your phone or via Binance TR’s official website. Note that you will also need your phone to verify from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the dropdown menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on “Copy URL” to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue the verification process, first, select the document type that suits you.
After selecting the document type, you can continue by tapping on the “Upload front side” option. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload back side” option and take a photo of the back side of the document and upload it. Ensure that the images are clear and that the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then you can continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Ensure that your face fills the camera area as much as possible after the camera opens.
After completing all these steps correctly and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account through all banks. You can deposit and transact 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits from other banks can be made 24/7 with FAST up to 50,000 TL. Deposits over 50,000 TL from other banks are processed within EFT hours.
To deposit money into your Binance TR account, first, go to the trbinance.com address, hover over the “Wallet” option at the top left of the main page, and click on the “Deposit” option from the dropdown menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make transfers via wire transfer, EFT, or FAST to that bank. All you need to do now is use the information displayed on the bank’s page to transfer the amount you want to deposit into your Binance TR account via wire transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your wallet in your Binance TR account.
How to Buy ACA Coin with TL on Binance TR?After the deposit process, you can proceed to the TL to ACA coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. You can go to the TL to ACA purchase page by typing “ACA” in the search section on the right side of this page and clicking on the ACA/TRY option from the results.
Now the following ACA trading page will open. On this page, you need to enter the price at which you want to buy ACA in the first box in the red-marked area and the number of ACA you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy ACA” button.
What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functions through Binance TR.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Altcoins News: The latest update from the Token Unlocks App reveals that six altcoins are readying to take the heat of increased market supply in the upcoming week. This is attributable to massive token unlocks, a phenomenon wherein previously locked tokens are released periodically into the market.
Notably, $138.8 million worth of cliff unlocks are looming to hit certain altcoins in the coming days. These tokens include AltLayer (ALT), Sace ID (ID), Ethena (ENA), Galxe (GAL), Yield Guild games (YGG) and Acala (ACA).
Here’s a brief report on the token unlocks that may serve as important Altcoin news for crypto market participants.
AltLayer (ALT) The AltLayer crypto is set to witness an unlock of a staggering 684.21 million ALT, worth $111.01 million, on July 25. This is equivalent to 42.08% of the circulating supply, raising severe investor concerns over future market implications.
ALT price traded at $0.1619 at press time, up 5.29% over the past day. Its 24-hour lows and tops are $0.1572 and $0.1729, respectively.
Space ID (ID) The Space ID token will witness an unlock of 18.49 million ID, worth $9.01 million, on July 22. This equals 4.29% of the coin’s circulating supply.
ID price traded at $0.4875, an increase of 5.70% from yesterday. The token’s 24-hour lows and highs were $0.4607 and $0.5011, respectively.
Ethena (ENA) Ethena prepares for an unlock of 14.89 million ENA, worth $7.32 million, on July 21. This totals 0.87% of the coin’s circulating supply.
ENA price traded at $0.493 today, an upswing of 6.97% over the past day. Ethena’s 24-hour slumps and peaks were recorded as $0.4699 and $0.5116, respectively.
Yield Guild Games (YGG) The Yield Guild Games crypto will experience an unlock of 14.08 million YGG, worth $7.56 million, on July 27. This amounts to 3.74% of the coin’s circulating supply.
YGG price traded at $0.5369, up 2.97% over the past day. The token’s 24-hour bottoms and tops were $0.5183 and $0.555, respectively.
Also Read: $149 Million of Altcoins Sold By WazirX Hacker to Buy 43,799 Ethereum
Galxe (GAL) The altcoin Galxe readies for an unlock of 1 million GAL, worth $3.60 million, on July 24. This is equivalent to 0.85% of the circulating supply.
The GAL price rested at $3.58 today, a decline of 5.78% over the past day. Its 24-hour bottoms and highs were $3.54 and $3.92, respectively.
Acala (ACA) Acala is set to face an unlock of 4.66 million ACA, worth $340.03k, on July 25. This totals 0.46% of the coin’s circulating supply.
ACA price stood at $0.07291, an upsurge of 2.53% from yesterday. The cryptocurrency’s 24-hour bottoms and peaks were $0.07132 and $0.0759, respectively.
Notably, the abovementioned token unlocks remain much eyed by market participants as investor concerns persist over this altcoin news, primarily due to supply increase.
Also Read: SHIB News: Massive 2.7 Tln Accumulation Fuels Hope For Shiba Inu To $0.0000386
The crypto realm prepares for a dynamic shift in prices of 17 altcoins, primarily attributable to looming token unlocks ahead. Recent data from the Tokenomist.AI App suggests that nearly $74 million worth of coins will be released into the market over the coming week. These unlocks have raised severe market concerns over the coins’ future prices, as the supply of 17 coins stands poised to increase substantially.
Here’s a brief report on the cryptocurrencies that are set to face this bearish phenomenon ahead, per the latest market data.
17 Altcoins To Face Token Unlocks Ahead Tokenomist app revealed that 17 coins that are to face unlock ahead include MRS, ID, TRIBLE, ADA, KARRAT, ENA, EIGEN HTM, GTAI, C98, GAL, HOOK, GSWIFT, PYR, ACA, MOCA, and KPN. Let’s dig deeper into the upcoming unlocks and the mentioned coins’ current price action.
Metars Genesis Metars Genesis (MRS) is readying for an unlock of 10 million coins worth $15.70 million as of October 24. This unlock is equivalent to a remarkable 11.87% of the token’s circulating supply. Nevertheless, MRS price traded up nearly 1% from yesterday, reaching $1.67. The coin’s intraday low and high were $1.56 and $1.59, respectively.
Space ID Space ID (ID) stands strong to witness an unlock of 18.49 million coins, worth $7.10 million, as of October 22. The unlock is equivalent to 4.29% of the token’s circulating supply, raising investor concerns. ID price gained nearly 2.5% over the past day and is now trading at $0.3839. The coin’s intraday low and high were $0.3707 and $0.3876, respectively.
Tribal Token Tribal Token (TRIBL) readies to face an unlock of 9.60 million coins, worth $6.37 million, as of October 22. This unlock equals 8.30% of the altcoin’s circulating supply. TRIBL price slipped nearly 5% over the past day and is now trading at $0.6698. The token’s 24-hour low and high were recorded as $0.6561 and $0.738, respectively.
Cardano Cardano (ADA) is all set to experience an unlock of 18.53 million coins, worth $6.58 million, as of October 22. The unlock totals 0.05% of the coin’s circulating supply. ADA price soared nearly 2.5% today and is currently sitting at $0.3545. The coin’s intraday low and high were $0.3443 and $0.3566, respectively.
Karrat Karrat (KARRAT) is to witness an unlock of 11.36 million coins, worth $6.76 million, as of October 23. The massive unlock equals 7.93% of the altcoin’s circulating supply. Nevertheless, despite the looming risk, KARRAT price surged nearly 10% intraday to reach $0.5864. Its 24-hour low and high were $0.5299 and $0.6526, respectively.
Ethena Eythena (ENA) is preparing to experience a significant unlock of 12.86 million ENA, worth $5.33 million, on October 23. The unlock stands equal to 0.47% of the crypto’s circulating supply. Besides, ENA price pumped over 6% in the past 24 hours and is now trading at $0.4135. Its intraday low and high were $0.3886 and $0.4399, respectively.
EigenLayer EigenLayer (EIGEN) stands primed to witness an unlock of 1.29 million coins, worth $4.70 million, as of October 22. This unlock totals 0.59% of the altcoin’s circulating supply. However, even EIGEN price soared 6.29% to $3.65 today despite the looming bearish phenomenon. The coin’s 24-hour low and high were $3.42 and $3.71, respectively. Also, it’s noteworthy that the EigenLayer X account was hacked recently, bringing additional attention to the token in light of looming the unlock.
Hatom Hatom (HTM) is to experience an unlock of 5.39 million coins, worth $5.23 million, on October 20. The unlock is equivalent to a staggering 14.69% of the coin’s circulating supply. Meanwhile, HTM price dipped nearly 6% over the past day and is now trading at $0.9715. The crypto’s intraday low and high were $0.9679 and $1.07, respectively.
GT Protocol GT Protocol (GTAI) is readying for an unlock of 2.60 million coins, worth $2.11 million, as of October 21. This unlock equals a considerable 7% of the token’s circulating supply. Aligning with the risk, GTAI price dipped 5% today and is trading at $0.8118. Its 24-hour low and high were $0.7939 and $0.8678, respectively.
Coin98 Coin 98 (C98) stands poised to face an unlock of 16.53 million coins, worth $2.14 million, as of October 23. This unlock weighs equal to 2% of the crypto’s circulating supply. Besides, C98 price witnessed a 2.5% increase in value to $0.1296 today. Its intraday low and high were recorded as $0.1247 and $0.1339, respectively.
Hooked Protocol Hooked Protocol (HOOKED) is primed to witness an unlock of 8.33 million coins, worth $3.82 million, as of October 21. The unlock is equivalent to 4.27% of the altcoin’s circulating supply. Nevertheless, HOOKED price soared nearly 4% over the past day and is now trading at $0.4588. The coin’s intraday low and high were $0.4382 and $0.495, respectively.
Venom Venom (VENOM) is poised to face an unlock of 33.76 million coins, worth $2.85 million, on October 25. This unlock totals 1.80% of the token’s circulating supply. VENOM price jumped slightly, up 1% over the past day to $0.08442. Its intraday low and high were $0.08208 and $0.08443, respectively.
GameSwift GameSwift (GSWIFT) is readying to witness an unlock of 18.07 million coins worth $1.09 million as of October 21. This unlock is equivalent to 4.47% of the altcoin’s circulating supply. GSWIFT price is up nearly 1% today and is trading at $0.0604. The coin’s 24-hour low and high were $0.05937 and $0.06121, respectively.
Vulcan Forged Vulcan Forged (PYR) is preparing for an unlock of 248.02K coins worth $647.32K as of October 25. This unlock totals 1.04% of the coin’s circulating supply. PYR price traded at $2.61 today, up nearly 2% intraday. Its 24-hour low and high were $2.52 and $2.67, respectively.
Acala Acala (ACA) is to face an unlock of 4.66 million coins, worth $277.64K, as of October 25. This unlock totals 0.43% of the crypto’s circulating supply. ACA price jumped 1% over the past day and is now trading at $0.05866. The altcoin’s intraday low and high were $0.05791 and $0.06044, respectively.
Moca Coin Moca Coin (MOCA) is eyeing an unlock of 44.08 million coins, worth $3.44 million, as of October 25. This unlock totals 3.4% of the crypto’s circulating supply. MOCA price dipped nearly 2% over the past day to reach $0.07756. The coin’s intraday low and high were $0.07654 and $0.07872, respectively.
KonnektVPN KonnektVPN (KPN) stands poised for an unlock of 18 million coins, worth $85.67K, as of October 20. The unlock totals 0.73% of the coin’s circulating supply. KPN price slipped nearly 8% over the past day and is trading at $0.004761. Its intraday low and high were $0.004639 and $0.005148, respectively.
Meanwhile, CoinGape Media previously spotlighted a stockpile of other altcoins to sell in light of massive token unlocks, such as the ones mentioned above.
The Acala network is an EVM-compatible DeFi smart contract platform that operates as a Polkadot parachain. ACA is the native token of the platform, which can be used for minting stablecoins, paying transaction fees, participating in governance, and earning rewards through staking and liquidity mining.
What Is Acala (ACA)?According to explanations, the importance of cross-chain communication in the blockchain is similar to the importance of the internet to intranets. Polkadot empowers a network of public, consortium, and private blockchains, providing true interoperability, economic, and transactional scalability. Acala is a first-of-its-kind decentralized finance consortium that offers a range of protocols. As per the statements, Acala is a stablecoin protocol that will serve as the DeFi building block of Polkadot. The Acala cross-chain stablecoin network will:
Create a robust and stable currency for low-cost, unrestricted value transfer across all blockchains connected to the networkAllow collateral to come from both the Polkadot network and other connected networks to achieve a higher supply ceilingLeverage Polkadot’s shared security mechanism to have the highest security from day oneAchieve true decentralization and censorship resistance through the consortium setup and token launch modelBe a specialized stablecoin network with customizable fee schedules while maintaining securityPrepare for the future with on-chain governance, enabling forkless and non-disruptive upgradesWhere to Buy ACA Coin?ACA Coin can be securely bought and sold through Binance, the world’s largest cryptocurrency exchange by trading volume. ACA Coin is traded on Binance under ACA/BTC, ACA/USDT, and ACA/BUSD pairs.
To purchase ACA, you must first register on the Binance exchange. After completing the registration, you need to transfer either cryptocurrency or fiat currency to your Binance wallet. Once the transfer is completed, you can buy ACA Coin from any of the three pairs mentioned above. To buy from the ACA/USDT trading pair, navigate to the interface for this pair. In the limit section of the ACA/USDT interface, enter the amount you wish to purchase. After specifying the amount, the purchase can be completed by placing a Buy ACA order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Polkadot (DOT) is preparing to launch a new stablecoin, pUSD, through the RFC-155 proposal. The Polkadot community is championing pUSD as a key solution to unleash its DeFi potential, cut dependence on USDT/USDC, and boost ecosystem autonomy.
However, some are concerned that they might repeat past mistakes. pUSD is an over-collateralized stablecoin fully backed by DOT, deployed on Asset Hub, and using the Honzon protocol developed by Acala. Acala is the former issuer of aUSD, a stablecoin project that failed disastrously.
Can pUSD Stablecoin Avoid the Same Fate as aUSD?Reusing Honzon – the framework Acala previously relied on to issue aUSD is raising concerns. That incident eroded trust in the Acala team, with some even accusing them of “blaming a hack” while failing to compensate users adequately.
“Acala’s stablecoin (aUSD) launch was a complete disaster and it really killed my trust in the team. I don’t see myself supporting their project anymore. What I’d love to see is a proper, reliable, native solution. Honestly, it’s frustrating that with all the talent in the Polkadot/Substrate space, nobody has managed to build something better yet.” – A community member shared.
Approval rate of the proposal at the time of writing. Source: PolkadotEven those who support Polkadot launching its native stablecoin still see Honzon and Acala as lessons that cannot be ignored. They propose the project should “move forward independently from the Acala team.” In addition, they call for the Technical Council to take clear responsibility for governance.
“With these assurances, I would be prepared to vote AYE. Without them, the risk of repeating past mistakes is too great.” Another member noted.
Too Many RisksSetting aside concerns about Honzon and the Acala team, Polkadot’s pUSD also faces skepticism within the community. One primary reason is the structure that DOT solely backs it.
While the exact overcollateralization ratio remains unclear, this could trigger liquidation cascades and add selling pressure on the token. Although the pUSD model is safer than Terra’s UST because it is overcollateralized, relying only on DOT as collateral introduces significant risks.
Previously, MakerDAO’s DAI also started as ETH-only collateral. But today, MakerDAO supports Multi-Collateral DAI (MCD). They allow users to back DAI with crypto assets such as ETH, WBTC, LINK, UNI, stETH, and even Real World Assets (RWAs) like US Treasuries.
“Backed only by DOT, which could trigger liquidation cascades and add additional selling pressure on the token. Remember the notorious DAI depeg in 2020, which forced MakerDAO to diversify its collateral.” A user on X commented.
Additionally, another X user pointed out that the Polkadot ecosystem already has more advanced native solutions like HOLLAR. The Hydration runtime builds this stablecoin, optimizes it for appchains, and positions it as superior to the legacy aUSD architecture. Therefore, many argue that instead of repeating a “regular” EVM model, Polkadot should leverage its unique strengths. This would enable the creation of a stable, secure solution worthy of its ecosystem’s potential.
pUSD is undoubtedly a strategic move by Polkadot to unlock DeFi potential. It could bring significant benefits if it proves secure and sees widespread adoption in the ecosystem. However, the ghost of aUSD’s failure continues to cast doubt within the community.
To avoid repeating the same mistakes, Polkadot must work to dispel those lingering concerns. The fact that the DOT supply is capped at 2.1 billion, as reported by BeInCrypto, could help fuel the ecosystem’s growth.
Source: Forbes Together, they dominate global liquidity and trading pairs across exchanges.
Against these giants, pUSD is starting from scratch, backed solely by DOT and confined to Polkadot’s ecosystem.
The challenge will be to earn trust and adoption; pUSD must prove it can stand firm where others already command near-total market share.
Source: TradingView At press time, DOT traded at $3.93, slipping nearly 1.6% since the pUSD proposal announcement. RSI hovered just above neutral at 52, while MACD showed weakening bullish signals, hinting at short-term hesitation.
TLDR The Polkadot community is currently voting on the proposal to launch a native stablecoin backed by DOT tokens. Bryan Chen, co-founder of Acala, introduced the pUSD stablecoin proposal to reduce reliance on USDT and USDC. The pUSD proposal has gained 74.6% support but requires 79.7% approval to pass in the ongoing referendum. Community members remain divided over Acala’s involvement in the pUSD project due to the failure of aUSD Gavin Wood outlines a broader vision for stablecoins within Polkadot, emphasizing the benefits of using pUSD for validator rewards. The Polkadot community is currently voting on a major proposal to launch a native stablecoin, pUSD. This stablecoin would be entirely backed by DOT tokens, the network’s native cryptocurrency. The proposal has sparked a heated debate, drawing strong opinions both in favor and against the initiative. At present, the vote is ongoing, and it could significantly influence the future of the Polkadot network.
Polkadot’s Push for a Native Stablecoin Bryan Chen, co-founder of Acala, introduced the proposal for pUSD. The plan suggests launching the stablecoin on Polkadot’s Asset Hub using the Honzon protocol. Honzon had previously been used in Acala’s aUSD project, which faced a failed launch due to an exploit. Despite the past failure, Chen has emphasized the importance of Polkadot having a decentralized stablecoin to reduce its reliance on USDT and USDC.
Chen stated, “A native stablecoin will prevent Polkadot from losing liquidity to other chains that already have one.” He believes pUSD can maintain the network’s strategic advantage in the rapidly evolving blockchain ecosystem. Although over 74.6% of the votes are in favor of the stablecoin, the measure requires 79.7% approval to pass. With over $5.6 million in DOT already committed to the vote, the outcome remains uncertain.
Acala’s Memories and Community Doubts Despite the potential benefits of a native stablecoin, memories of Acala’s previous failure have caused skepticism. The aUSD project’s collapse in 2022 due to an exploit left a lasting impact on the community. Some members argue that Acala should not be entrusted with launching another stablecoin, given the risks involved.
A group known as TheGlobedotters expressed concerns, urging that Acala’s involvement should be avoided. Others, like The White Rabbit, have said they could support the proposal if Acala were excluded from its development. They also call for strict governance safeguards before any stablecoin is deployed.
Gavin Wood Outlines the Broader Vision for Polkadot Polkadot’s founder, Gavin Wood, has also weighed in on the stablecoin debate. He outlined a broader strategy that includes both fully collateralized stablecoins like pUSD and more flexible “stable-ish” assets. Wood believes a multi-approach strategy is necessary to address Polkadot’s volatility issues while stabilizing the network’s validator rewards.
Wood suggested that validators could be paid in pUSD instead of volatile DOT, which would stabilize their income. He argued that such a move would attract institutional participants and enhance Polkadot’s long-term security. “A DOT-backed stablecoin like pUSD could be key to strengthening Polkadot’s position,” Wood added.
Polkadot developers are weighing a DOT-backed stablecoin called pUSD, though Acala’s troubled history with aUSD has sparked community doubts.
(Photo of Sung Jin Cho on Unsplash)
Posted September 30, 2025 at 10:04 am EST.
The Polkadot community is considering the launch of a native DOT-backed algorithmic stablecoin called pUSD, with the aim of reducing reliance on external stablecoins like USDT and USDC.
The proposal, put forward by Acala CTO Bryan Chen, envisions pUSD as an overcollateralized debt token exclusively backed by DOT tokens that would operate on Acala’s decentralized Honzon protocol.
pUSD would be managed entirely by smart contracts, tracking a fiat currency peg using economic incentives and automated on-chain logic. The design aims to avoid the risks of mixed collateral models and centralized control.
This story is an excerpt from the Unchained Daily newsletter.
Subscribe here to get these updates in your email for free
Early voting on the proposal has shown over 75% support, with more than 1.1 million DOT, valued at about $4.3 million, already committed. However, some members of the community raised concerns around Acala leading the charge.
“Acala’s stablecoin (aUSD) launch was a complete disaster and it really killed my trust in the team. I don’t see myself supporting their project anymore,” said one user.
Acala’s aUSD stablecoin experienced a major depeg event due to a technical exploit in 2022 — a bug in the iBTC/aUSD liquidity pool allowed hackers to mint over 1.2 billion aUSD tokens without the necessary collateral.
On December 8, 2025, the cryptocurrency market is having an incredible day with many altcoins are seeing gains above 10% during this period. The top performer is Acala (ACA), which increased by 33.89%, OVERTAKE (TAKE) is also quite close behind at an increase of 32.47%, and Moonbeam (GLMR) increased 30.63%. This indicates a resurgence of investor confidence in DeFi, gaming and infrastructure areas.
Acala Dominates with 33.89% Surge and Explosive Volume Acala Token stole the spotlight on Sunday with the highest single-day gain amongst major tracked cryptocurrencies. Trading for $0.01501 at a market capitalization value of $17.52 million. The token had explosive trading action with a trade volume of $66.74 million over a 24-hour period which clutched at an astounding 1130.08% which informs of massive, renewed interest in the Polkadot DeFi ecosystem.
Having a circulating supply of 1.16 billion ACA out of a total supply of 1.6 billion tokens, making the volume to market cap ratio of 360.29%, a token with exceptional liquidity and trader interest. The net effect of full dilution of the valuation is $24.03 million. As Polkadot’s DeFi hub, Acala plays a variety of important roles within its network including participation in governance, as well as paying transaction fees and acting as a reserve asset in the generation of the aUSD stablecoin.
OVERTAKE Increases 32.47% on Platform Growth OVERTAKE (TAKE) is making impressive gains and has a trading price of $0.3846 with a market capitalization of $68.01 million. The digital asset marketplace token showed 24-Hour trading volume of $53.16 million, which is up 47.65% and the fully diluted valuation of $384.61 million. The circulating supply is at 176.83 million TAKE with a total supply of 1 billion tokens.
The platform recently introduced its personalized staking system on November 25, 2025, in the form of STAKEHOUSE, to provide users with innovative means of earning rewards. Unlike traditional passive staking, the system grants rewards dependent on activity from the user such as trading and participation in governance. OVERTAKE simplifies peer-to-peer trading of digital assets by automating manual processes with smart contract-based escrow mechanisms and AI-driven market tools give insight into pricing analysis and smart suggestions for both casual and experienced traders to list the assets.
Moonbeam Surges 30.63% and Bolds up Volume Moonbeam (GLMR) had strong performance, which is currently listed at $0.04014 and has a market capitalization of $41.37 million. The Ethereum-compatible smart contract platform on Polkadot saw a massive 205.45% growth surge in the 24-hour trading volume to $72.76 million and fully diluted valuation of $48.41 million.
The token has a circulating supply of 1.03 billion GLMR out of a total supply of 1.2 billion which has an amazing volume to market cap ratio of 178.36%. This platform gives developers a familiar Ethereum environment with improved scalability using the Polkadot parachain technology. Moonbeam burns 100% of the transaction fees; thus, forming natural deflationary pressure, and inflation is limited at 60 million GLMR reaching the supply ceiling.
Conclusion While the overall cryptocurrency market continued to remain volatile, leading cryptocurrencies maintained solid performance. As projects have gained interest in the Polkadot ecosystem, both ACA & GLMR have seen a growing interest from investors. In addition, the introduction of TAKE to decentralized exchanges and an increasing interest in Web3 has increased the interest generated around the token due to the growing ecosystem surrounding it. The surge of Dec 8, 2025, was re-confirmation that projects which have real utility, and are developing on a continuous basis, stand to perform better in unstable market conditions.
AUTHOR
Farhan Karim is a technology writer and content strategist with 15+ years of experience writing thousands of articles, blogs, whitepapers, and ebooks on Blockchain, Cryptocurrency, and other tech niches. His expertise in content strategy, SEO, and a keen eye on the ever-evolving tech space have led him to work with companies like Pepsi, Huawei, Arab News, and now Blockchain Reporter.
Cryptocurrencies like Ai Companions, Adventure Gold, and Acala were among the best-performing cryptocurrencies on Monday.
AI Companions (AIC), which is developing a platform for virtual companionship, rose for the second consecutive day, reaching a high of $0.1727—its highest level in over a week. AIC’s surge is attributed to ongoing momentum in the artificial intelligence sector and the anticipated growth of the virtual companionship industry, which is expected to get to $9.5 billion in 2032.
I posted about $AIC a few months back, the team are still building. Let’s take a look at the latest.
Key Updates:
– OKWallet Integration: A major milestone is on the way, with OKWallet support to be announced soon. This isn’t just big on its own, it’s a stepping stone towards…
— Rypto (@Rypto__) December 28, 2024 Adventure Gold (AGLD) also climbed for two consecutive days in a high-volume trading environment, hitting a high of $3.03. The token has been one of this year’s top-performing cryptocurrencies, soaring nearly 400% from its August lows. This rally has boosted AGLD’s market cap to over $227 million and its 24-hour trading volume to $1.3 billion.
Acala (ACA) continued its upward trend, reaching a high of $0.12—a 155% increase from its lowest level this year. The rally comes as the Polkadot (DOT) network continues to perform strongly, with its total value locked rising to over $111.4 million.
These tokens experienced double-digit gains as the mood in the crypto industry remained muted and volume fell. Bitcoin crashed below $94,000, meaning that it has crashed by 15% from its highest level this year.
The crypto fear and greed index, a popular gauge on sentiment in the industry, has moved from the extreme greed zone of 90 to the neutral point of 50. Also, the altcoin season index has moved from the year-to-date high of 87 to 44.
Meanwhile, most altcoins were in the red. Movement crashed by 10% on Dec. 30, while Helium, Pudgy Penguins, Curve DAO, Ondo, and Mantra were among the worst-performers, falling by over 7%.
The next potential catalyst for Bitcoin and other altcoins will be the potential January Effect, a situation where assets rise in the first days of the year. This rebound typically happens as many investors create their portfolios for the year.
Also, the Donald Trump inauguration in January and the FTX distribution could push them higher in January. Most importantly, seasonality data shows that the first quarter is usually the best time to invest in cryptocurrencies.
Trader Maji was liquidated on his 25x leveraged long Ethereum position, incurring $1.9 million in losses, and subsequently opened a new position.
According to monitoring by OnchainLens, Stanley Huang, known as "Machi Big Brother" (@machibigbrother), has had his 25x leveraged long Ethereum (ETH) position fully liquidated, incurring a loss of approximately $1.9 million. Notably, he opened a new 25x leveraged long ETH position immediately after the liquidation. Machi Big Brother’s cumulative historical losses exceed $35.4 million.
3 minutes ago
Micron posted strong quarterly results, with its quarterly revenue and next-quarter outlook significantly exceeding market expectations. Its stock surged nearly 16% in after-hours trading, driving a broad rally across the storage sector.
According to its official financial report, Micron Technology (MU.O) reported Q3 fiscal 2026 revenue of $41.456 billion, beating market expectations of $35.423 billion and surging from $9.301 billion in the year-ago period. The company issued Q4 fiscal revenue guidance of $50 billion, against market expectations of $42.915 billion. Micron CEO Sanjay Mehrotra stated: "Micron’s record-breaking Q3 fiscal financial results and stronger Q4 outlook reflect the strategic value of memory chips in the AI era. We believe our multi-year strategic customer agreements will significantly enhance the durability and predictability of Micron’s strong financial performance." Micron’s Q3 report showed net profit of $28.24 billion, or $24.67 per share, up from $1.89 billion, or $1.68 per share, in the same period last year. Excluding certain one-time items, Micron reported adjusted earnings per share (EPS) of $25.11, exceeding analysts’ consensus estimate of $20.86. Driven by the quarterly revenue and outlook that topped expectations, as of press time, Micron jumped 15.95% in post-market trading on the U.S. stock market, also lifting other memory stocks sharply: Seagate (STX) rose 10.21%, Western Digital (WDC) gained 12.31%, and SanDisk (SNDK) surged 15.77%.
3 minutes ago
Kalshi is reportedly seeking a new round of financing, with its valuation potentially rising to $40 billion.
According to a report from the U.K.’s Financial Times, prediction market platform Kalshi is in discussions with investors for a new funding round targeting a roughly $40 billion valuation, with a potential close as early as the third quarter of this year. The development follows Kalshi’s $1 billion financing round completed last month, which valued the firm at $22 billion, with backers including leading institutions such as Coatue, Sequoia Capital, Andreessen Horowitz, and Morgan Stanley. Data shows Kalshi’s trading volume last month surpassed $17 billion, a sharp jump from less than $5 billion a year prior, with approximately 65% of that volume stemming from sports-related prediction contracts.
3 minutes ago
Polymarket integrates with Telegram via TON, enabling users to participate in prediction markets directly within the messaging app.
Polymarket has been integrated into Telegram via Predict, a native decentralized application (dApp) of the TON ecosystem. Developed by the Getgems team, the app allows users to directly participate in prediction markets covering sports, politics, cryptocurrency, culture and other sectors within Telegram. Transaction results are settled on-chain, and users retain full control over their assets. Users can participate in trades using USDT on the TON network, and pay a small amount of GRAM for gas fees. The cross-chain infrastructure is powered by STON.fi’s Omniston protocol, enabling the prediction market service to seamlessly integrate into the Telegram ecosystem.
3 minutes ago
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
3 minutes ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
PANews reported on February 2nd that, according to an official announcement, Binance has decided to suspend trading and delist the following cryptocurrencies at 11:00 AM (UTC+8) on February 13th, 2026: Acala Token (ACA), Tranchess (CHESS), Streamr (DATA), dForce (DF), Aavegotchi (GHST), and NKN (NKN).
Binance stated that it will regularly review the digital assets listed to ensure a high standard of quality. When a token no longer meets listing standards or there are significant changes in the industry environment, a thorough project review will be conducted, and it may be delisted.
