Manta Network and Polkadot Parachains Team Up to Launch $250 Million ‘aUSD Ecosystem Fund’ to Grow Polkadot’sNative Stablecoin, Acala USD
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Manta Network and Polkadot Parachains Team Up to Launch $250 Million ‘aUSD Ecosystem Fund’ to Grow Polkadot’sNative Stablecoin, Acala USDAcala Network, Manta Network, and seven parachain team members have joined forces to create a $250m aUSD Ecosystem fund to help early-stage startup companies build applications that can use stablecoin on any Polkadot parachain.
Kenny Li, Core Contributor and Cofounder of the Manta Network says, “we’re excited to be supporting the aUSD Ecosystem Fund and look forward to integrating privacy into the emerging use cases and projects coming out of it. With Polkadot’s native interoperability, every new idea launching in the ecosystem is another value add to all parachains’ “.
Fund participants seek solidity- or substrate based applications that can drive yield and utility for the USD, which includes money markets. Derivatives. Asset management. DAOs. Payments. As Web3 continues to expand into the global market, the participating projects will build aUSD and create hundreds of other applications.
Polkadot’s Multi-Chain Economy
Polkadot’s ecosystem is based on a shared and decentralized security model that allows parachains to have plug-and play security as well native trustless cross-chain functionality. The parachain communities are beginning to come together to create cross-chain interaction initiatives. This is the list of blockchain-related companies and projects that are making this future possible.
Project of the Future
MantaOffers crypto asset privacy technology CentrifugeThe company specializes in real-world asset financing. EfinityBrings NFT, Gaming, and Metaverse Platforms. AstarThe Network launched an EVM hub to support WASM and EVM. Acala is providing aUSD as the ecosystem’s native stablecoin via its DeFi network and MoonbeamIt provides a platform that is fully compatible with Ethereum. HydraDX is a DEX chain of the highest quality. OriginTrailDecentralized knowledge graph ParallelWe are creating a platform that will contain multi-chain DeFi products. ZeitgeistParachains are designed for prediction markets, futarchy and other purposes. Polkadot’s network effect and growth will be exponential once all the chains are connected.
The goal of the The aUSD EcosystemThe Fund
To support and facilitate investment in early-stage teams building in the Polkadot community and grow the Polkadot and Kusama ecosystem through increased cross-chain activity and growth of Polkadot’s native stablecoin, aUSD.
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