Acala (ACA) is the utility token of the Acala Network, a DeFi and liquidity hub built on the Polkadot blockchain. The network offers a range of decentralized finance (DeFi) services such as Acala Swap (a decentralized exchange), liquid staking (allowing DOT token holders to stake and receive liquid tokens like LDOT), and aUSD, a decentralized stablecoin backed by DOT and other assets.
ACA tokens are used for several purposes within the Acala ecosystem:
1. Transaction Fees: They cover gas fees for transactions and smart contract executions.
2. Governance: ACA holders participate in the network's decision-making, including protocol upgrades.
3. Node Incentives: The tokens incentivize nodes to relay messages and ensure the network's functionality.
4. Staking and DeFi: Users can earn rewards through liquid staking and provide liquidity to Acala's decentralized exchange.
