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Figment

Figment is currently participating in Acala’s testnet, and we plan to support Acala as a collator.

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Acala is a new blockchain powering open finance applications. The blockchain will provide a stablecoin (aUSD) as well as staking liquidity to the Polkadot network. The network will be governed entirely by Acala Network Token (ACA) holders. Acala is being developed jointly by Laminar One, and Polkawallet. 

The Acala network will have two protocols, Honzon and Homa. 

Honzon Protocol – Acala’s Honzon protocol will allow users to leverage crypto assets supported by Acala to generate aUSD (Acala stablecoin) by creating a collateralized debt position. Honzon will initially support DOT, but there are plans to support Bitcoin and Ethereum once there is a bridge to Polkadot. 
 
Homa Protocol – Acala’s Homa protocol will allow for the liquid staking of DOT. DOTs can be staked, trustlessly through Acala. The staked DOTs will continue to generate rewards, and users will receive L-DOT or liquid DOT in return. The L-DOT is a derivative of DOT and represents the value of DOT. You will be able to use L-DOTs for investing, lending, and other DeFi applications. 

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