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Acala emerge as winner in Polkadot’s inaugural parachain auction

Ethereum-friendly decentralized finance platform Acala has won the first ever Polkadot parachain auction. Acala is a blockchain company that focuses on developing infrastructure for scalable blockchains.

The much-anticipated auction was keenly contested between Acala and Moonbeam, but the latter emerged with the prize, gathering 32.5M DOT tokens from worth $1.3 billion from 81,000 wallets.

With over 32M DOT contributed by over 81,000 community members, Acala has won the first parachain auction on @Polkadot! Thank you to everyone who took part in this historic event. It’s a testament to the strength of @Polkadot that so many talented teams are in the running to be among the first five projects to launch on Dec 17. In this respect, we’re all winners. We’re looking forward to kicking off the multi-chain future with you!” Acala’s official Twitter handle said.

RELATED: Polkadot’s DeFi protocol Acala realize $400M in parachain auction

NEWSBSC Acala

Polkadot creator Gavin Wood says the close competition is “what we want.”

“There’s real competition and this is really what we want with the auction,” Wood said. “It’s something that wouldn’t really have happened in a traditional auction, where they would have kept very low, all the way until the end, and then they would have put everything that they had in as late as possible.”

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