DeFi protocol Acala raises $400M in crowdloans during first Polkadot parachain auction -Breaking
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Acala, a decentralized finance protocol announced Monday that it has raised $8.5 million in DOT from more than 53,000 participants. A second parachain auction will be held on behalf of the protocol.
Acala’s crowdfunding mechanism, unlike other types of crowdfunding, is a crowdloan. It will ultimately need to repay “crypto debt” that it solicited.
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