A new cryptocurrency project in the Polkadot ecosystem and another crypto asset based on Terra have been listed on the world’s largest crypto exchange (LUNA).
Binance has announced that it will list Acala (ACA), an Ethereum-compatible smart contract platform, as well as the Polkadot (DOT) parachain.
Acala’s blockchain features decentralized finance (DeFi) protocols built-in for app developers to use, including its stablecoin, the Acala Dollar (aUSD), as well as a decentralized exchange (DEX). It aspires to be Polkadot’s “DeFi Hub,” enabling easier app development and more efficient trading.
ACA has only been trading for about 12 hours at writing. It has generally gone lower so far, with a current price of $2.03 after debuting at $2.40.
Binance stated on the same day that it would list Anchor Protocol (ANC), a lending and borrowing protocol based on the Terra blockchain, a few hours later.
Anchor seeks to offer “low-volatile” dividends on Terra stablecoin deposits, backed by a diverse stream of staking rewards from other major blockchains. The Anchor protocol attempts to provide depositors with consistent deposit returns, fast withdrawals, and principle protection through the liquidation of loans that are at risk of being undercollateralized.
According to the project,
“The Anchor community believes that a stable, reliable source of yield in Anchor has the opportunity to become the reference interest rate in crypto.”
After being listed, ANC saw a 23 percent increase in price, from $1.52 to $1.57. Since then, it has given up some gains and is now trading at $1.61.