Acala is an Ethereum-compatible, smart contract-ready Polkadot parachain. Self-described as the "DeFi Hub of Polkadot," the network is optimized for decentralized finance, featuring a forkless upgrade mechanism and the ability to pay transaction fees in almost any token. Acala's native cryptocurrency is called ACA and is used as the network's governance token, in various staking activities, as a medium of exchange and to incentivize nodes to relay data to Polkadot.
Launched with a proof-of-authority consensus mechanism, Acala will eventually introduce community governance via voting with ACA as part of the third phase of its roadmap. Meanwhile, the network draws its security from the underlying Polkadot network. Notable Acala investors include ParaFi Capital, Hypersphere Ventures and Polychain.
