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Acala wins first Polkadot parachain auction with over 32M DOT staked
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cointelegraph.comOn Thursday morning, Acala, a decentralized finance (DeFi) protocol operating on the Polkadot (DOT) network, announced it had won the first-ever Polkadot parachain auction.
Acala raised a total of 32.5 million DOT, worth roughly $1.28 billion, from 24,934 contributors via an initial coin offering (ICO) structured as a crowdloan. As the proceeds are classified as 'crypto debt,' Acala would eventually need to pay back the DOT it had solicited from investors. Users' DOTs are locked for the duration of the rental agreement for Polkadot's parallel chains up for sale.
It’s a testament to the strength of @Polkadot that so many talented teams are in the running to be among the first five projects to launch on Dec 17. In this respect, we’re all
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