Binance Lists Altcoin Built on Polkadot (DOT), Plus An Additional Crypto Asset On Terra (LUNA)
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The world’s largest crypto exchange has listed a new altcoin project in the Polkadot ecosystem, as well as another crypto asset based on Terra (LUNA).
In a new announcement, Binance says it’s listing Acala (ACA), an Ethereum-compatible smart contract platform and Polkadot (DOT) parachain.
Acala’s blockchain has built-in decentralized finance (DeFi) protocols for app developers to leverage including its own stablecoin called Acala Dollar (aUSD), plus a decentralized exchange (DEX). It aims to be the “DeFi hub” of Polkadot by allowing for easier app-building and more efficient trading.
At time of writing, ACA has only been trading for roughly 12 hours. It has so far traded mostly downwards, currently changing hands for $2.03 after launching at $2.40.
Hours later on the same day, Binance announced it was listing Anchor Protocol (ANC), a lending and borrowing protocol on the Terra blockchain.
Anchor aims to provide “low-volatile” yields on Terra stablecoin deposits with a rate powered by a diversified stream of staking rewards from other major blockchains. The Anchor protocol aims to provide depositors with stable deposit yields, instant withdrawals, and principle protection via liquidation of loans at risk of under collateralization.
The project says,
“The Anchor community believes that a stable, reliable source of yield in Anchor has the opportunity to become the reference interest rate in crypto.”
ANC enjoyed a brief 23% bounce after getting listed, from $1.52 to $1.57. It has since given up some of its gains and is sitting at $1.61.
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Featured Image: Shutterstock/Anastelfy/LongQuattro
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