Crypto is activity dense; we can go on and on discussing emerging projects. Amid the boom, Polkadot dominates crypto talk for simple reasons.
Acala to win the First Polkadot Parachain Slot Auction
For one, the interoperable blockchain is, according to analysts, undervalued at spot rates despite commanding over $51 billion as per trackers.
Second, Polkadot is still developing, growing in strength.
The Relay Chain is one thing, and Parachains is another.
After receiving crowdloans worth over $700 million in DOT, Acala may win the first Polkadot Parachain slot.
There are various ways of funding.
One way, a project can self-fund. However, in the spirit of community, Acala engaged investors through a crowd-loan, receiving support to directly develop their DeFi product.
Acala is still under heavy development but has been audited and proven secure by the blockchain security firm Trail of Bits.
DOT traders were optimistic that the highly anticipated Parachain slot auction would draw demand, driving prices higher.
In a contrarian move, DOT prices are slumping, under immense pressure, and underwhelming.
