Join the exclusive network ownership event to strengthen the Acala Treasury and ensure Acala’s long-term sustainability and growth.
Registration opens for the “Build Acala: Ready the Treasury” token event at: 1:00pm UTC on Sunday, Aug 15, 2021.
Space is limited and first come, first-served with eligibility requirements outlined on info.acala.network. Watch our latest community call below to learn more about the Treasury and how to become an Acala network owner.
Let’s Build
“Build Acala: Ready the Treasury” is an exclusive network-ownership event that invites the community to strengthen the Acala Treasury, an on-chain reserve of digital tokens owned and managed by ACA holders. Eligible participants are rewarded with ACA, the native token of Acala, in addition to a bonus-gift of KAR, the native token of Acala’s sister network Karura, which is currently live with an all-in-one DeFi hub.
But most importantly, the “Build Acala: Ready the Treasury” event will prepare Acala for long-term network self-sustainability and growth, as all proceeds are contributed to the Acala Treasury.
Why Ready the Acala Treasury?
The Acala Treasury is a reserve of digital tokens, native and foreign to the Acala ecosystem, funded from Acala’s protocol fees and community contribution events. With a healthy treasury in place, the community of network owners can fund operational and economic initiatives, including:
- Self-funding a parachain slot on Polkadot
- Bootstrapping protocol liquidity (e.g. provide aUSD or DEX pair liquidity)
- Platform and protocol operations and improvements
- Network security operations and enhancements
- Software and tool development
- Community, marketing, and event funding
- Any other future community Acala Treasury Proposals (ATPs)
What’s more, eligible participants are granted the opportunity to gain ownership of both Acala and Karura, which not only empowers the community to govern the network, but enables them to gain early access to operations on Acala’s all-in-one DeFi ecosystem.
Join the Event to Become a Network Owner
As the native token of Acala, ACA is used for network utilities (paying fees, staking to deploy smart contracts and pallets, staking for collator nodes) and network governance (risk parameter adjustment, adding new collaterals, voting for network upgrades, etc.).
ACA has a fixed supply of 1,000,000,000, and the entire supply of ACA will be minted on the genesis (there is no new issuance).
By participating in ‘Build Acala: Ready the Treasury,’ supporters have the opportunity to receive both ACA and KAR. The event has two rounds each with a set of criteria as outlined on the info.acala.network guide.
Key dates and details:
Primary Token Symbol: ACA (Acala’s native token)
Gift Token Symbol: KAR (Karura’s native token). For every 10 ACA distributed, 1 KAR will also be distributed to the same account used to participate in the event (10:1 ratio given the 10:1 token supply relationship between Acala and Karura).
Registration Date: 1pm UTC on Sunday, 15th August
Round #1 Old Friends: 1pm UTC on Monday, 30th August (48 hours)
Round #2 Open Community: 1pm UTC on Thursday, 2nd September
ACA Token Supply: fixed non-inflationary supply of 1,000,000,000 ACA
KAR Token Supply: fixed non-inflationary supply of 100,000,000 KAR
Initial Circulating Token Supply: TBD
Eligibility: KYC required; participants from the following jurisdictions are excluded: United States, New Zealand, China, Iran, Cuba, Syria, North Korea and Crimea region of Ukraine.
How to Participate
At 1pm UTC on Sunday, Aug 15, the event registration site will open at build.acala.network. Because a limited number of registration slots are available, registration is first come, first served.
1pm UTC in other timezones is: 9am Toronto, 3pm Berlin, 4pm Moscow, 6:30pm Delhi, 10pm Tokyo, 11pm Sydney.
For more information on the event, along with potential registration issues to avoid, be sure to review the participation guide.
About Acala
Acala is an all-in-one decentralized finance network offering a blockchain platform secured by Polkadot, as well as a suite of cross-chain financial applications that let users trade, issue self-serviced loans, become liquidity providers, access staking derivatives, and earn high-interest APY on their digital assets. The network is scalable, Ethereum-compatible, and optimized for DeFi.
Acala was founded in Oct 2019, and today has received five Web3 Foundation grants, has backing from Coinbase Ventures, Pantera Capital, Polychain Capital, and other top firms, and has a distributed team in New Zealand, China, Europe, Brazil, and the United States.
Linktree | Discord | Website | Twitter | GitHub | Wiki | Newsletter | YouTube
About Karura
Karura is the all-in-one DeFi hub of Kusama. Founded by the Acala Foundation, Karura is a scalable, EVM-compatible network optimized for DeFi. The platform offers a suite of financial applications including: a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin backed by cross-chain assets (kUSD), and an AMM DEX — all with micro gas fees that can be paid in any token.
Linktree | Discord | Website | Twitter | GitHub | Newsletter | YouTube
It’s Time to Build Acala and Ready the Treasury was originally published in Acala on Medium, where people are continuing the conversation by highlighting and responding to this story.
