'Astar Network and Acala Partner to Launch DeFi Rising for Unlocking New Opportunities for Developers' crypto web3
. Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the story for quality, but the claims hereon belong to the author. #DYORThe aUSD ecosystem is powered by the decentralised Acala financial network. Acala USD is the native stablecoin of the Polkadot ecosystem, and it is a decentralized, multi-collateral, crypto-backed stablecoin.
Using bridges, Ethereum and Bitcoin-based DeFi will be able to interact with other nodes on the Polkadot network. Polkadot's robust feature set is ideal for use in DeFi initiatives. Allowing for the creation of decentralised blockchains opens the door to several fascinating applications. Liquid staking is a special type in DeFi. Staking token holders may acquire instant liquidity without a lockup period by exchanging their tokens for a synthetic token that can be traded on exchanges. Despite the increased centralization risk, token holders clearly profit from this. In the near future, Polkadot will likely be the most widely used blockchain ecosystem for liquid staking, since at least six companies are already developing solutions for it.
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