DFG, which is one of the largest crypto investors in the world, has allocated over 500,000 DOT to Acala, which is developing a DeFi platform called Acala. DFG Bank announced its first decision, which was to contribute 500,000 to the Acala crowd loan. Acala Network is a blockchain project that aims to fuel the development of Polkadot’s DeFi hub. It is a layer-1 smart contracts platform that enables decentralized networks to connect and collaborate. Projects can bid for slots on the platform using and by winning the support of the wider community. The first auction will take place later this month.
Acala will use crowdloan to ensure its place in Polkadot, and supporters will get ACA units as reimbursement for crowdloan. Due to the rise of Polkadot’s parachains, the price of DOT has reached an all-time high. It is now the eighth-largest blockchain in the world. Polkadot is a distributed multi-chain platform that enables users to transfer messages anonymously. Polkadot is flexible and can be used to describe the chain structure in a network. It does not assume the nature or structure of the networks in which it operates.