Acala Increases DOT Staking, Enhancing DeFi Accessibility in the Polkadot Ecosystem

2023/11/10 17:29

Acala has expanded DOT staking, which benefits DOT token holders by offering rewards for staking. Those who staked Acala's Liquid DOT (LCDOT) can convert their holdings to DOT and contribute to the LST pool, unlocking instant rewards while enjoying Acala's decentralized financial solutions.

The Acala Euphrates liquidity DApp has been well-received by the staking community, with its user-friendly interface and openness. Since September 26, 2023, the platform has gathered 2.3 million LCDOTs, with 84% of participants contributing 1,000 LCDOT. This expansion of DOT staking aims to make DeFi more accessible to users of all levels.

Acala's Liquid Staking mechanism (LDOT) is highly trusted by stakeholders and institutions, including Coinbase Cloud and Blockdaemon. Institutional providers such as Liquid Collective and Credora have also adopted Acala's LDOT.

The enhanced DOT staking on Acala provides additional pools and rewards, emphasizing community engagement and incentives as key elements of its DeFi ecosystem. Acala's on-chain governance system allows for adjustments to ACA rewards based on participation and market conditions.

The partnership with ecosystem partners plays a crucial role in determining these incentives, and Acala welcomes crypto beginners to join its thriving ecosystem, offering a user-friendly UI, transparent governance, and attractive payouts. This move is expected to attract more users and enhance DeFi accessibility within the Polkadot ecosystem.

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