Manta Network and Polkadot Parachains Team Up to Launch $250 Million ‘aUSD Ecosystem Fund’ to Grow Polkadot’s Native Stablecoin, Acala USD

Manta Network and Polkadot Parachains Team Up to Launch 250 Million ‘aUSD Ecosystem Fund to Grow PolkadotsNative Stablecoin Acala USD social

Acala, Manta Network and seven other Polkadot parachain teams have partnered to launch a $250 million aUSD Ecosystem Fund to support early stage startups building applications with strong stablecoin use cases on any Polkadot or Kusama parachain.

kenny li, Core Contributor and Co-Founder of the Manta Network say, “we are excited to support the aUSD Ecosystem Fund and look forward to integrating privacy into its emerging use cases and projects. With Polkadot’s native interoperability, each new idea launched in the ecosystem is another value added to all the parachains'”

Fund participants are looking for Solidity or Substrate-based applications that drive USD returns or usefulness, including money markets, DEXs, derivatives, asset management, DAOs, payments and other use cases. The participating projects will grow a USD as a building block in the Polkadot ecosystem with hundreds of applications that will be able to thrive in the coming decades as Web3 proliferates in the global economy.

Polkadot’s Multi-Chain Economy

The Polkadot ecosystem focuses on a decentralized and shared security model, allowing any parachain to receive plug-and-play security, as well as native, reliable cross-chain functionality. Parachain teams are now starting to collaborate on initiatives to kickstart cross-chain interactions. Here is a list of innovative companies and blockchain projects that are making that future a reality.

Project of the future

manta provides privacy technology for crypto assets, Centrifuge specializes in real-world asset financing, while Efinity brings NFT, gaming and metaverse platforms. A star Network has launched a hub for WASM + EVM, Acala offers aUSD as the ecosystem’s native stablecoin through its DeFi network and moonbeam offers a fully Ethereum compatible platform. HydraDX brings a world-class DEX chain, OriginTrail brings decentralized knowledge graph, Parallel builds a platform filled with multi-chain DeFi products, and zeitgeist launches a parachain optimized for prediction markets and futarchy. Once all these chains start working together, Polkadot will experience exponential network effects and growth.

The Purpose of the aUSD Ecosystem Fund

Supporting and facilitating investment in early stage teams building in the Polkadot community and growing the Polkadot and Kusama ecosystem through increased cross-chain activity and growth of Polkadot’s native stablecoin, aUSD.

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