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Crowdloan Event

Key Points

  • The Acala Crowdloan is happening soon, join the waitlist, and be sure you’re eligible to participate with a compatible wallet and DOT tokens on hand.
  • The Acala Crowdloan is a community-backed launch for individuals looking to contribute to the growth of Acala’s network and applications.
  • Contributed DOT will be returned at the end of this Acala parachain lease.
  • The lease period (DOT locked period) is 2 years. ACA will be distributed after Acala launches and transfers are enabled.

1. About Acala

1.1 Overview

Acala is the decentralized finance network and liquidity hub of Polkadot. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications.

With the Acala Swap trustless exchange, the Acala Dollar decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT), and the Acala EVM+, Acala lets developers access the best of Ethereum and the full power of Substrate.

1.2 ACA Token

  • ACA is the native token of the Acala.
  • ACA has a fixed supply of 1,000,000,000.
  • ACA can be used for paying transaction fees, staking to deploy smart contracts and pallets, node incentivization, algorithmic risk adjustment, and governing the network and protocols.
  • Learn more about ACA token here.

2. Crowdloan Overview

The crowdloan event is an important milestone for launching the Acala network.

2.1 Parachain Auction

Polkadot is a sharded, multi-chain network that allows blockchains to connect for interoperability, scalability, and plug-and-play network security. To join Polkadot’s network, all parachains must participate in and win a unpermissioned candle auction to secure a slot on the network. Parachains can choose to raise DOT in a variety of ways in order to participate in the auction.

2.2 Purpose of Acala Crowdloan

Acala has chosen to host a Crowdloan to trustlessly crowdsource DOT, which will be used to participate in the Polkadot parachain auction. These DOT will be bonded, or ‘locked’, in the Polkadot Relay Chain for the duration of Acala’s parachain lease.

Crowdsourced Network Security

DOT holders lock their tokens on Polkadot for a period of time (2 years for the first parachain auction) to help Acala lease a parachain slot and gain access to Polkadot’s plug-and-play security. In return for DOT holders’ loan, ACA (Acala’s native token) will be distributed to participants.

Community-backed Launch

DOT tokens will be returned to holders following parachain lease, with a guarantee of receiving the DOT principal back. It can be seen as a community-backed launch for individuals looking to contribute to the evolution of Polkadot’s network and parachains.

Fair Network Bootstrapping

The ACA distributed to participants will be vested over a period of time, but the full balance can be used to participate in governance and other activities besides transferring. This helps us to build a strong and well-intentioned community from the ground up.

3. Acala Crowdloan Details

3.1 Key Details

  • Lease Period: 96 Weeks.
  • Vesting: 20% liquid upfront, 80% vest over lease period.
  • Referral Bonus: 5% ACA bonus for the referrer and 5% for the referee.
  • VIP Referral Bonus: 10% additional bonus on all DOT contributed using your referral code when you refer 500 accounts that contribute over 3,000 DOT. This is limited to up to 100 winners. If there are more than 100 qualifying winners, the top 100 in DOT contributed using their referral code will earn this bonus.
  • Quest Bonus: 2% ACA bonus and exclusive NFT for users that complete all 5 Acala Quests.
  • Karura Crowdloan Contributor Bonus: 2% additional ACA bonus on your FIRST contribution when using the same account that you used for the Karura crowdloan.
  • NFT Reward: Awarded to all Acala Crowdloan contributors except users that participate through exchanges.
  • Eligibility: No KYC is required, but participants must agree to Terms & Conditions.

3.2 Ways to Participate

Crowdloan is a permissionless event, so you can make your own judgement on how you'd like to participate. We recommend the following ways to participate:

Option 1: Traditional Crowdloan

  • Details: Contribute using the traditional crowdloan method via the Acala website. Contribute your DOT trustlessly to the crowdloan.
  • Liquidity Lock Duration: 96 weeks (approx. 2 years)
  • Tokens Received: ACA
  • DOT Redemption: Your DOT contribution will be unlocked and returned to you trustlessly after 96 weeks.
  • Bonus Eligibility: Eligible for all bonuses

Option 2: Liquid Crowdloan

  • Details: Contribute to the Acala Liquid Crowdloan Vault to maintain ongoing access to crowdloaned DOT liquidity.
  • Liquidity Lock Duration: No liquidity lock - stay liquid with LCDOT
  • Tokens Received: ACA and LCDOT
  • LCDOT Amount: Receive 1 LCDOT for every 1 DOT contributed.
  • DOT Redemption: Your DOT contribution can only be redeemed with your LCDOT at the end of the 96 week parachain lease.
  • Bonus Eligibility: Eligible for all bonuses

Option 3: Exchanges

Option 4: Mobile Wallets

Disclaimer: Crowdloan via exchange or mobile wallet is provided by a third party, not Acala. Acala does not guarantee and does not assume any responsibility for, the acts or omissions of the third party, the performance of their products or services.

3.3 Prepare your DOT In order to participate in the crowdloan, DOT must be unbonded.

If you are already staking DOT, please begin the process of unstaking now to ensure that you can observe the 28-day cooldown. The following guides are available: ​