Cutting-edge center for multichain smart contracts and DeFi network hub collaborate to increase DeFi on Polkadot
New incentives and opportunities will become available to developers on Polkadot thanks to the DeFi initiative.
The decentralized finance (DeFi) network Acala and Polkadot’s innovation center Astar Network have teamed up to promote DeFi by opening up new options and benefits for Polkadot ecosystem developers.
The two organizations have teamed up to introduce the “Astar x Acala DeFi Rising” new DeFi initiative.
The program will enable programmers to create apps on Astar’s dApp ecosystem while utilizing Acala’s range of DeFi products, including deep liquidity from native assets like the aUSD, LDOT, and ACA. The Astar ecosystem teams will also give awards to developers.
Additionally, Astar’s SpaceLabs program and Acala’s $250 million aUSD Ecosystem Fund may provide support for initiatives that benefit aUSD on Astar.
According to the companies’ announcement, the $250 million aUSD Ecosystem Fund was established to aid early-stage businesses in creating decentralized applications (dapps) with a stablecoin utility on any Polkadot or Kusama parachain.
Acala co-founder Bette Chen commented on the partnership and claimed that the initiative would hasten the development of the Astar DApp ecosystem and cross-chain use cases.
The partnership would enable both organizations to steer the Polkadot ecosystem, according to Sota Watanabe, founder and CEO of Astar Network.
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