Without the shadow of a DOT - Acala big winner of the last parachain auction

Crowdloan on Polkadot (DOT ) – Fundraising for the network’s parachute auctions has surpassed 90 million DOT, or more than $3 billion. Acala is the winner of the first Polkadot parachute auction, Moonbeam could be next.

Acala and Parachain: 32.5 million DOTs raised in first auction

On November 18, 2021, Polkadot-based DeFi protocol Acala announced in a tweet, that it had won the network’s first parachain auction. Acala raised 32.5 million DOT, or about $1.28 billion. 24,934 contributors participated in the ICO, which was structured as a crowdloan.

In order to participate in the auction, investors deposited their DOT in a digital vault. In return, they received Acala’s native token, the ACA, as well as the Liquid Crowdloan DOT (lcDOT). Acala will have to pay back these crypto debts that it has thus contracted with the investors. These DOTs are locked in during the term of the lease agreement for the parachains put up for sale.

The ACA is used for payment of transaction fees, staking, as an incentive for the nodes, as well as for governance and maintenance of the nodes. The lcDOT, which is a locked-in underlying in crowdloan, can be used as collateral for the issuance of Acara USD stablecoin. DOT users will be able to exchange it for DOT within two years.

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Moonbeam tipped to win: a second, larger parachain auction

Polkadot’s smart contracts allow for asset transfers between parachains in the network. Polkadot developers auctioned the first parachain in early November 2021.

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Development of the technology is still ongoing, however, as is the second auction of another parachain for rent, a sale that could be won by smart contracts EVM platform Moonbeam. The latter has raised 35,035,618 DOT from 47,807 contributors at the time of writing. In return, investors get a Moonbeam token (GLMR) for every DOT invested.

French cryptophiles interested in Polkadot parachains, will be able to seize the opportunity offered by French company Just Mining, which gives its customers the possibility to participate in crowdloans from their platform.