🌟 Subspace Relayer - Project Spotlight: Acala Network
Subspace Network is archiving the full history of the Acala Network parachain in real-time. Acala is a specialized stablecoin and liquidity blockchain that is decentralized, cross-chain by design.
Very early, the founders saw a need for a decentralized stablecoin in Polkadot & Kusama.
They envisioned a decentralized, censorship-resistant stablecoin to power transactions, provide a medium of exchange & provide a default routing asset for Polkadot’s economy of economies.
Acala’s stablecoin protocol uses a multi-collateral backing mechanism to create a stablecoin soft-pegged to the US Dollar. The Acala stablecoin protocol mints a stable currency from a basket of reserve assets.
This enables people to transact, trade, and facilitate services using aUSD without price volatility and, if desired, retain ownership of their reserve assets like ACA, DOT, DOT derivatives, parachain assets, and assets bridged from other consensus networks like BTC, or ETH.
The team has also announced their plans to integrate with Wormhole, which will connect Karura and Acala to Avalanche, Binance Smart Chain, Ethereum, Fantom, Oasis, Polygon, Solana, and Terra, enabling their users to enjoy asset integrations and access over $200B of liquidity.
The Subspace Network team is thrilled to support Acala with our Subspace Relayer to ensure the history of its blockchain remains accessible and is retained indefinitely.
View real-time updates of the Subspace Relayer here: https://testnet-relayer.subspace.network/
To learn more about how Subspace is archiving the full history of Polkadot and all live parachains, please check out our blog below: https://medium.com/subspace-network/archiving-polkadot-on-the-subspace-aries-test-network-b715b3e897a
Subspace is an open, scalable platform for both storage and compute that is fully interoperable with any layer one.