TechFlow news — Polkadot DeFi protocol Acala has announced the launch of a $250 million aUSD Ecosystem Fund in collaboration with nine Polkadot parachain teams and multiple venture capital firms, aiming to support early-stage startups building applications with strong stablecoin use cases on any Polkadot or Kusama parachain. The fund is targeting Solidity- or Substrate-based applications that enhance the yield or utility of aUSD, including lending markets, DEXs, derivatives, asset management, DAOs, payments, and other use cases.
Participating Polkadot parachains in this ecosystem fund include Acala, Astar Network, Centrifuge, Efinity, HydraDX, Manta, Moonbeam, OriginTrail, Parallel, and Zeitgeist. Participating venture capital firms include nearly 40 organizations such as 1confirmation, Alameda, Hashkey, DCG, IOSG, Jump Crypto, Pantera Capital, and Polychain Capital.
Acala is a decentralized finance network powering the aUSD ecosystem. Its core product, Acala USD (aUSD), is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin for the Polkadot ecosystem.
