Polkadot Parachains Spike After the Launch of a $250M aUSD Stablecoin Fund

For weeks, cryptocurrency values have been testing new lows, and it’s unclear what it will take to reverse the trend. Despite the slump, cryptocurrencies in the Polkadot (DOT) ecosystem began to rise on May 24 and have managed to maintain gains ranging from 10% to 25%, possibly indicating that specific market sub-sectors are about to break out. Here are three Polkadot ecosystem protocols whose token prices have been trending higher in recent days. Acala launches a $250 million aUSD ecosystem fund Acala (ACA) is the most popular decentralized finance (DeF) platform on the Polkadot network, owing to the debut of aUSD, the Polkadot ecosystem’s first native stablecoin. Traders were looking for “safer” stablecoin choices after the collapse of Terra’s LUNA and TerraUSD (UST). On March 23, ACA surged after the project announced the establishment of a $250 million “aUSD Ecosystem Fund” to encourage early-stage entrepreneurs to develop strong stablecoin use cases on any Polkadot or Kusama parachain. Acala, nine parachain teams, and a group of venture funds have launched the $250 million 'aUSD Ecosystem Fund' 🅰️💸 The fund is seeking early-stage projects from any @Polkadot or @KusamaNetwork parachain with strong $aUSD stablecoin use cases 🚀https://t.co/OJ2V47ZUry pic.twitter.com/NDgLg2bG8N — Acala (@AcalaNetwork) March 23, 2022 Acala also announced the establishment of a kickoff rewards programme, which would reward LCDOT/DOT, LCDOT/a...