After yesterday's presentation on @AcalaNetwork crowdloan, I see a lot of questions popping up regarding the option 2, where you get lcDOT and $ACA.

Allow me to explain this option.👇
By choosing option 2 when you participate in the @AcalaNetwork crowdloan, you get 2 tokens, $ACA the native token of Acala Network and lcDOT.

LcDOT stands for liquid crownloan $DOT and it's meant to solve the liquidity problem of $DOT.
When you contribute to the crowdloan, your $DOT is locked for 2 years. It's sitting in the polkadot relay chain and basically doing nothing.

So the idea behind lcDOT is to get access to this early liquidity and continue to use your $DOT during these 2 years.
So what can you do with your lcDOT?

✅ It can be traded on exchanges.

✅ It can be used as collateral to mint the stablecoin aUSD.

✅ It can generate yields using the defi protocols built on top of Acala or any other chains connected to Acala.
I like how @bettechentt summarized option 2 in the presentation:

"Your assets can be in two different places at exactly the same time without comprising each other's utility".

So beautiful.
One very important thing to keep in mind is that you will need your lcDOT to get your original $DOT back after 2 years. So if you sold it you'll need to buy it back basically.

That's all from me. Please share if you liked.

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More from @OmarReserved

14 Oct
#DMAS has been confirmed to launch on Monday, October 18th. It’s one of the most anticipated events by the $ZCX community as I expect a lot of $ZCX to be locked.

Things to keep in mind as we are getting closer:

#DMAS will not launch with all the pools at once, the launch will be progressive and pools will increase as the team will proceed with public testing of the #DMAS on Mainnet.

This is the best way to make sure the smart contracts can handle the flood of $ZCX to be staked.

Private sale investors which have their $ZCX locked will also have the ability to use $DMAS.

They will be given ZCXHT which is 1:1 with $ZCX, This ZCXHT could be used exclusively on #DMAS, it doesn’t have any utility outside. It cannot be traded.

Read 5 tweets
13 Oct
With parachain auctions approaching and @AcalaNetwork, one of the most powerful defi ecosystems, is aiming to win the first one on November, Here is an explanation of how the protocol works and the utility for $ACA.

👇👇👇Time for a thread👇👇👇
@AcalaNetwork is a defi hub for polkadot. It’s a platform optimised specifically for defi, It contains some native defi applications built by Acala and it allows other defi applications to be built on top of it. It’s basically an L1 for Defi.
So basically Acala is launching with an already built in set of applications that are considered the tenets of Defi. These application are:

✅ Acala swap: It's an AMM type decentralized exchange that supports cross-chain assets with the ability to pay gas using any asset.
Read 7 tweets
11 Oct
I have been looking into $UFO and been impressed by what they’re trying to build. I’m really bullish on this one and I really think you should pay attention if you haven's already.

👇👇👇Here is why👇👇👇
Before getting into details, keep in mind that $UFO is and will always be at the heart of everything that’s happening within the ecosystem.

Let’s describe how this works from a player perspective for Super Galactic, The first game within the platform.

The player needs to stake $UFO or $UFO / $ETH LP the Super Galactic staking DAPP, called the cosmos, to earn Plasma Points.

These plasma points are used to mint NFTs, UFOeps, which are mandatory to play the game.

Read 11 tweets
26 Sep
With the public sale coming up next week, I think $AZERO should be your main focus for this month.

Here is why?

Time for a Thread

@Aleph__Zero are building an L1, proof of stake, public blockchain with privacy focus.
It’s a DAG-based platform that’s scalable, private, and developer-friendly.

The current consensus algorithms are still vulnerable to attacks and can never be 100% secure, The probability of such attacks happening reduces as the network grows but never reaches 0%.

Read 15 tweets
19 Sep
You might be wondering why $KDA is pumping after it has been ignored for quite some time.

Let me tell you about its fundamentals so you understand why this L1 has a very promising future in my opinion.

PoW has a very bad reputation in terms of scalability. You might have read about bitcoin scalability problems and L2 solutions to make bitcoin scalable. Well $KDA found a way to scale a POW blockchain by combining multiple chains together. Their blocks are interconnected...

...and by using graph theory, there a minimum number of chains each chain has to be connected to which makes the whole $KDA blockchain highly scalable.

Read 7 tweets

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