Legitimate Project on Polkadot Series #1
If you are a hodler of Polkadot, the fact you know all the legitimate projects on Polkadot is very essential. Today we want to introduce a series providing the community with knowledge about these out-standing projects.
The 1st project will be Acala - The Defi Hub on Polkadot.
1. Acala has received Web3 Grants Until now, Acala has received and completed 3 grants from W3F Open Grants Program for a decentralized stablecoin platform, the composable & innovative Stack for EVM, and xtokens. https://t.co/N553MNMd9s?amp=1
2. Active Development Just in one month, 9 authors have pushed 85 commits to master and 104 commits to all branches. 3. Open source Acala is an open source project. Check their Github for more information at https://t.co/sllqTnTXaO?amp=1
4. Whitepaper Acala has a well-written, detailed whitepaper that focuses on the Acala Network protocol - the multi-collateral, cross-chain, community-owned stablecoin system. https://t.co/Zx6tBJkXDg?amp=1
5. With an experienced & professional team, it is clear that Acala is one of the most cutting-edge projects on the Polkadot system. Acala displays their team members prominently on their site, along with their social media profiles. https://twitter.com/DotMarketCap_/status/1400336802834124800?s=20 Don't forget to follow Dan Reecer - VP Growth of Acala, he is one of the most influential people in the ecosystem trying to educate the community about Polkadot. https://twitter.com/danreecer_
6. Haven't issued token on another chain Acala Network has not issued tokens on another chain, this shows their dedication to the ecosystem and their commitment to actually build on Polkadot.
7. Parachain candidate Acala Network aims to be a parachain & has successfully tested on Rococo as a parachain and a parathread before moving over to Kusama Network and eventually Polkadot
If you want to know the criteria for evaluating a legit project on Polkadot, check this tweet thread. https://twitter.com/PolkaWarriors_/status/1393553772463362050
Find out more information about Acala at: https://dotmarketcap.com/coin/acala Read more about KaruraNetwork - Acala’s canary network at: https://twitter.com/PolkaWarriors_/status/1394595536091574272