Acala Launches $250 Million Ecosystem Fund to Fuel Adoption of its Stablecoin $aUSD

Acala, a DeFi platform on Polkadot, has launched a $250 million ecosystem fund to boost the adoption of its stablecoin $aUSD with participation from Alameda Research, Jump Crypto, Pantera Capital and others. The fund will provide grants to early-stage Polkadot projects in areas like decentralized finance (DeFi), derivatives, payments, and decentralized autonomous organizations (DAO) that incorporate its aUSD stablecoin. In addition, the Polkadot Parachains participating in the ecosystem fund include Astar Network, Centrifuge, Efinity, HydraDX, Manta, Moonbeam, OriginTrail, Parallel, and Zeitgeist.