Acala Network has announced its list of winners for the Acala challenge that took place at Amsterdot. These were challenges set up by Acala that presented the best DeFi innovation on the Acala EVM+ and in cross-chain Polkadot DApps
The challenges were differentiated into categories and The winners of the various categories are as follows:
Category 1: EVM+ DApp for aUSD Yield | Reward$10K
Challenge: Build a DApp in the Acala EVM+ enabling users to earn yield with aUSD
Winning Project: Yield Manager for $aUSD
Team: Entity 54
Details: https://dorahacks.io/buidl/3073
Demo:
Category 2: Cross-chain DApp | Reward: $5K
Challenge: Build a Cross-chain DApp with Polkadot or Kusama network parachain interactions
Winning Project: Morph
Team: Entity 54
Details: https://dorahacks.io/buidl/3059
Demo:
Category 3: Front-end, Tools, or Utility Service | Reward: $5K
Challenge: Build a front-end, tool, or utility service for the Acala ecosystem
Winner: Karura DeFi Dashboard with subsquid
Team: Future-Comes
Details: https://dorahacks.io/buidl/3076
Video:
The event was considered a huge success, and just one of the many ways through which Teams building in the DeFi space can apply for Acala’s $250M $aUSD ecosystem fund for support and fundraising. More about that here.
About Amsterdam Conference
This was a 4-day event of conferences and hack sessions organized by some of the leading projects of the Polkadot and Kusama ecosystems.
The event took place between 20th to 23rd of April and the winners can be found here.
The event was aimed at offering an inclusive space to meet, greet, talk and exchange thoughts, and perhaps kick off the next interesting collaboration. Targeting the wider crypto community.
About Acala Network
Acala Network is a decentralized finance (DeFi) platform built for the Polkadot ecosystem. Acala was the first parachain to earn a slot in PolkadotIt is built to host an array of financial applications that make use of smart contract technology, interoperable cross-chain functionality, and robust security protocols.
It is a decentralized finance network powering the aUSD ecosystem, while being a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi. With the Acala EVM+, Acala lets developers leverage the aUSD ecosystem while enjoying the best of Ethereum and the full power of Substrate.
aUSD is a decentralized, multi-collateralized stablecoin backed by cross-chain assets. Stable by design with value relative to the US Dollar, aUSD is the defacto stablecoin of Polkadot and Kusama. aUSD is powered by Acala, an application-specific blockchain customized for powering liquidity, economic activity, and stablecoin utility