tldr; Polkadot’s innovation hub Astar Network has announced a partnership with the leading DeFi network Acala to supercharge DeFi on Polkadot. Astar developers can build new dApps on top of Acala-native assets like aUSD, LDOT, and ACA, while receiving extra ACA and additional rewards from various Astar ecosystem teams. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The hack allowed the hacker to mint more than 1.2 billion aUSD from thin air. The attacker swapped a fraction of the minted stablecoins for Acala's native ACA and four other tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
If not worried about ATOM when LUNA/UST collapsed, why worried about DOT? I’m disappointed too that this happened due to their LP issue. How can users be assured that this won’t happen again? I’m mixed on ACA/AUSD. Knowing 99.9% of the printed AUSD have been secured is kind of good, but what if they’re not as lucky next time.
Some misinformation going around that can be debunked by simply looking at the on-chain data: [https://acala.subscan.io/account/26JmEcghNmggvT46sojckg34Py9zFRKkCcFy3gr49hrFgT2k](https://acala.subscan.io/account/26JmEcghNmggvT46sojckg34Py9zFRKkCcFy3gr49hrFgT2k) This doesn't seem to be a hacker, in the meaning of a bad actor specifically using the protocol to just do this hack. This account is an Acala crowdloan participant (they still have around 700 ACA left vesting), they have been using the Acala protocol for a while... I have a feeling they found the bug accidentally and then simply exploited the hell out of it (based on the history of extrinsic calls on their account). The account still has the exploit related minted aUSD in their balance. The account has yet to be able to profit financially from this...
"Backed only by decentralized assets in Collateralized Debt Positions (CDP)." "Backed by cross-chain & native parachain assets: DOT, KSM, ACA, KAR, BTC, and ETH." This is going to keep happening if assets are backed by fucking unstable, volatile assets. I'm a fan of DOT but I'm not a fan of every single project wanting a God damn stablecoin to its name. It's time to just stop it.
None of them whatsoever. ACA may pull a Terra next bullrun ... but they all will be obliterated. They all are run by VC and they are dumping and building nothing. Moonbeam is extremely bad though. 245k followers on twitter and I have more engagement with my 320 followers. They support nobody trying to build in there...
Republicans are proponents of charter schools and school choice. To prevent exactly what you’re speaking of. And nobody is forcing anybody to have babies. Birth control pills and condoms are available and oftentimes already free thru public health departments and birth control is MANDATED to be covered by insurance companies thru the ACA. The problem of an unwanted pregnancy can be completely eliminated thru personal responsibility on the part of the female. And before you flip out about rape and incest, those instances are so rare that they’re not statistically important and would be legal anyways in most states because of that exemption. On demand and up to the moment of birth is what most people just don’t agree with. Even regular conservatives are generally ok with abortion in the first trimester. But if the option is all or nothing, we’ll vote for nothing.
And what about the dot parachains? Are you extending your bags also? GLMR, EQ, ACA are a good picks imo. Equilibrium will launch their money-market soon, gotta profit on their margin trading soon. Unique network seems to be good but I haven't checked yet.
This would only work in America, the land of the ignorant. It's MIND-BLOWING how moronic the citizens of this "greatest country in the world" have become. They have collectively bamboozled themselves into the greatest distortion of reality in the history of mankind, from their fake boobs and fake smiles, to their eminently shallow discussions of even the deepest subjects. For proof, look no farther than polls back in the day of Obamacare: when Republicans were polled about it, they were en masse very much against it. When asked about the ACA, after having had to be explained what it was exactly, they were by and large in favor. The kicker? They are one and the same!
tks mate, I actually already have some dot which I used in the polkadex crowdloan :) now with this extra cash I'm wondering what to do... GLMR dropped a lot, so tempted do buy a bunch and now I believe it will be the most successful parachain... not so sure about ACA tho and yet there's KSM quite cheap as well...
Honestly most of the crowdloan projects (even the big names) are not doing a damn thing in terms of development, or perhaps they're working on things that are far out, and that's why we haven't heard much from em. ACA/KMA have been some of the worst decisions I've made in the space, so far. Never crowdloaning again, I'd much rather just stake and be rewarded for participating in an ecosystem, like over at Cosmos.
I'm thinking about using Trezor/Ledger options, but right now I've moved my ETH to Trust Wallet along with other positions like Sol and Link. I've also moved all of my DOTs to Polkadot JS and I'm keeping some of my parachain tokens EQ UNQ and ACA in there too. I'm doing this slowly since the majority of my position is still on exchanges until I find a better way to get them out and if cold wallets are really the best option in my case. I also need to put more research on it as well.
It doesn't solve a problem per se but in DOT (and Cosmos) you have many blockchains that can talk to each other without the need for bridges. So you can have GLMR,DOT,ACA,ASTAR and any other parachain moving coins from one dapp to another. From one project to another with a simple click No smart contract, no second layer, no bridge etc and thus you can't steal the coins like it happened in here (and many other situations) Now if you are moving ETH into GLMR in order to move that ETH around in dot ecosystem, you need a bridge. And that can be hacked
I have no problem saving money. I also am white, male, single, do freelance art for a living, sublet rooms in apartment while sleeping in the walk-in closet and driving a 2000 Honda Civic that looks and drives like shit. I'm on Medicaid via the ACA and only have liability insurance. Also, my teeth are rotting and I'm clinically depressed! See? It's *easy*.
Interesting. So what do you make for example of the ACA? Libtard conspiracy to undermine your right to die uninsured? I view the left as slightly less loathsome than the right. https://twitter.com/Carnage4Life/status/1495096537902288899 > Once you learn about the ratchet effect in U.S. politics, you see the pattern everywhere. > Republicans move the country rightwards when they have power & Democrats block movement leftwards when they get power.
Of course it's for itself. That doesn't mean that a majority of the developed world doesn't benefit from it. Btw I spend zero for healthcare because ACA has no asset check. So despite being worth millions I get free healthcare. Can't do that in europe where socialized medicine requires you to be paying taxes into it.
That sucks, this stablecoin is more like Maker, it’s backed by DOT, ACA currently and the a lot of the aUSD minting is from the community. Look into it acala network, you can stake the dot and not earn the extra rewards. Plus for a few you can withdraw your stake instead of waiting 28days. Luna was a scam out the gates just took this unfortunate incident to show it.
DOT was amazing on paper. Now we are just cashing reality checks. Staking is not only complicated but expensive. Staking on CEX or other parachains defeat the very decentralization purpose Parachains, as they stand now, are utter shit. 5 months and ACA has 3 LP to show up for and Moonbeam have 2 DEX and uniswap coming ... "outstanding" Polkadot.js is still the most orthopedic website developed after 1997. If parachains and DOT do not return close to their ATH before the crowdloan unlock, the dump will be mythological and it will just become a ghost chain. And I hodl DOT since it was at 4$. So it has been a while.
I hodl MATIC and DOT. The latter offers me a good 40% APY on Equilibrium while also giving me access to support projects gain a parachain slot via my liquid DOT. Also, I get rewarded some tokens as bonus for participating. I was able to acquire EQ, ACA, and PDX through this. MATIC and DOT are good long-term HODL if I'm to offer my two cents.
I bought first day at 6 and I didn't sell at 15 cos I was a fucking moro and btc was in a bulltrap and I really thought "in for the tech" was a thing. Big ass mistake I should have sold all my parachains rewards and dump those tokens I bought just like everyone else did. But hey... Maybe I would have sold and buy LUNA and now I would have nothing If btc drops like crazy again I will buy again,same with ACA. And sell next cycle. Looking forward for exosama too but I guess no mint until Q3 at least
I think that polkadot parachain projects have a good chance of pulling through. I'm planning to load up on GLMR (Moonbeam) and ACA (Acala). Beyond that, I hold CKB, but I'm just letting that ride for now. QNT is another that I think has a bright future.
DOT and dive into the ecosystem, move your coins off the CEX, open a wallet on-chain, Talisman wallet is where my coins are and from there you can interact seamlessly with the parachains. Super user friendly and all encompassing. Research the upcoming parachains and interact with the ones that are already live, tons of rewards and lots of value within and I expect them to boom alongside DOT in the next bullrun. ACA, PARA, PDEX and more.
It’s as simple as: higher the risk, higher the reward! My take is be risk on with a diversification strategy! On the crypto side I got some stable coin farms on Kalmar going on with about 30% of my portfolio. I’m not getting rid of them, instead I’m drip feeding a DCA strategy into my favourite coins (due to the high risk) with a bias to the large caps with focus on BTC and ETH! But also smaller projects in NFTs like WAX and QTZ, defi like URUS and ACA. I know the risk I high, but being in cash is also high, specially with the ongoing inflation numbers…
Keep in mind Acala and Polkawallet just launched. There are substantial upsides to ACA defi growth. The parachains are just getting started. I find it hard to invest elsewhere at the moment. If they bridge Kusama/Karura with Acala/DOT, it will be big.
Staking on Polkawallet app is easy as shit and you no longer need 120 DOT to stake. Also ACA bridge is open (oneway from DOT to ACA) so you can start working ACA staking and liquidity with ease. Its by far the easiest staking Ive ever encountered.
I do have a big DOT bag. DOT and GLMR are basically my second bag right now combined so I truly fucking hope DOT succeed. I got it at 4$ so I Am good for the money. However, here are some reasons: \- Cosmos is on motherfucking fire. Their ecosystem is not only vast but airdrops are just too good. Airdrops vs parachains ... there's no color right now whatsoever. So if Cosmos keeps building non stop and showering people with money they will win the battle. 11k NETA airdrop vs GLMR / ACA / ASTAR dump bloodbath show . \- Staking is way too hard and the limit is way too high. You need 120 or 150 DOT already to stake on your own. And polkadot.js is the most orthopedic shit ever created. Yes on Kraken it's automatic balbla but that's against decentralization and 90% do not have the capital to get 150 DOT . Specially with US outside parachains \- XCMP it's not yet ready and we don't know how long and how well it's gonna work. Without this DOT is dead in the water as it has nothing special Now if DOT manages to fix all that before the parachain lease finishes in a year and a half, it will be all good and probably will be here to stay. And I am counting on that BUT if it doesn't... all those millions of DOT will be dumped in a blink of an eye as soon as they are unlock and there will be no looking back I tell you that
I'd rather buy lower caps. I've made more buying low caps and midcaps than buying the top 10. Most especially when I get to buy in presales. A good example is Spool which I got during its LBP sometimes last year. Now, its product launch is happening and while everyone is struggling with the inconsistent market, I'm getting a big pay off. Another example is the auctions at Polkadot. ASTR and ACA were among the biggest movers this past week and only those who staked DOT got the big benefits.
It has more support than that if you call it the ACA instead. People don't understand the legislation, they regurgitate whatever they hear on their news network of choice, by and large. The ACA is ok and all, but it was too watered down by people innanely yelling "socialism" without any real argument or cause.
I'd invest elsewhere, even in ATOM, but I just don't have enough to invest. I just see the waves made on new parachains, and just when I start looking out the window to new projects outside Polkadot/Kusama, something else pops up, or another ICO whitelist, or a token launch that's reasonably affordable (like ACA/GLMR/MOVR). I figured I was done and happy holding my bags of KSM, but then I heard about ICE/SNOW planning a crowdloan launch on Kusama 😂 around June. For me, it's hard to not invest in these new startups running parallel to Polkadot. It's funny because before I was stretched out over 20 different projects before Polkadot, a little investment all over the place and I figured it was too much to track and I never really made any money. Now I'm back up to 20 projects again (and building), within Polkadot, with no hope of slowing down, starting to actually be able to take profit (and make profit), learning so much about the new projects and their mechanisms, that I'm becoming less worried about the financial aspect and more involved with the technical processes, so much so, that I've considered a career in computer programming and web development because it's my new hobby.