Question 1

What is it?

Accepted Answer

**Token: Acala (ACA)**
Acala (ACA) is the native utility token of the Acala Network, functioning as its primary means of governance, staking, and utility within the ecosystem. As a fungible ERC-20 compliant token, ACA is often used for paying network fees, participating in governance decisions, and staking to secure the network's operations.

**Platform: Acala Network**
The Acala Network is a decentralized finance (DeFi) hub and stablecoin platform built on the Polkadot ecosystem. Its aim is to facilitate cross-chain liquidity and offer a suite of financial applications, including a multi-collateralized stablecoin (aUSD), a decentralized exchange (DEX), and staking derivatives. Given Polkadot's interoperability features, Acala Network is poised to connect various blockchains, thereby increasing liquidity and utility in the decentralized finance sector.

Question 2

What is it used for?

Accepted Answer

Acala (ACA) is multifaceted in its use-cases within the Acala Network:

* **Governance:** ACA holders can participate in the network's governance by voting on proposals, updates, or changes to the network's parameters.
* **Staking:** Users can stake ACA to contribute to the network's security and in return, earn rewards.
* **Network Fees:** ACA is used to pay for transaction and smart contract execution fees within the Acala Network.
* **Collateral:** It serves as one of the collateral options for minting the platform's stablecoin, aUSD.

Question 3

Who created it?

Accepted Answer

Acala was founded by Ruitao Su and Bette Chen, who brought together their collective expertise in blockchain, finance, and engineering to develop a DeFi-centric platform in the Polkadot ecosystem.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	ACA-USDT ACA_USDT	gateio	A	0.0₃2442USDT	-2.44%	4,535,197.00ACA	83	0.0₃2504USDT	0.0₃2539USDT
2	ACA-USD ACAUSD	kraken	AA	0.0₃3300USD	0.00%	0ACA	0	0.0₃3300USD	0.0₃3300USD
3	ACA-EUR ACAEUR	kraken	AA	0.0₃2500EUR	0.00%	0ACA	0	0.0₃2500EUR	0.0₃2500EUR
4	ACA-INR ACAINR	coindcx	-	0.02430INR	-3.19%	1,357,218.92ACA	45	0.02510INR	0.02590INR
5	ACA-USDT ACA-USDT	bigone	-	0.0₃3011USDT	0.00%	0ACA	0	0.0₃3011USDT	0.0₃3011USDT