Auction For The First Polkadot Parachain Slot Won By DeFi Project Acala

The auction for the first Polkadot parachain slot was won by the DeFi project Acala. More than 32.5 mln DOTs were blocked in its favor, which is approximately $1.33 bln. During the event, users contributed more than 87.55 mln DOTs, which is approximately $3.4 bln. Projects Acala and Moonbeam were the main contenders for the victory, and all the time they were almost on a par.

On November 16, the Acala project finally took the lead. The snapshot was taken on November 15 and at the time of the snapshot, more than 31 436 DOTs were blocked in favor of Acala. The Parachain Auction is split into five weekly rounds. The last round will end on December 16. Then, for the winners, the slot rental period will begin, which will last from December 17, 2021 to October 20, 2023.

Acala bills itself as "Polkadot's decentralized financial network and liquidity hub." The Acala project team develops a variety of DeFi products, including the decentralized stablecoin aUSD, a non-custodial exchange, and DOT derivatives.

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