I started speaking with @AcalaNetwork about coming on @theBlockcrunch.
After our first chat, it was clear @bettechentt & @ruitao_su were building something special that we wanted to get involved with.
3 reasons I’m excited👇
1/ My thesis: stablecoins accelerate adoption of onchain financial applications.
No one wants to trade against arbitrarily priced assets (exception maybe BTC, or ETH).
@AcalaNetwork is building that key piece for the @Polkadot ecosystem.
2/ But @AcalaNetwork isn’t just a stablecoin.
They’ve also shipped a testnet lending protocol and dex, which you can test out here here.
apps.acala.network
3/ I’m fascinated by the implications of staking derivatives.
With PoS taking center stage, this will create new markets, new dynamics and new challenges.
@AcalaNetwork will be first to ship L-DOT, a fungible derivative of staked
4/ This allows additional use cases for while letting the asset remain staked for network security.
This is one of the newer financial primitives that more people will talk about and experiment with with ETH 2.0. Can’t wait to see how L-DOT trades 👀
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