ACA, BIT, and BETU Tokens are Ranking High – Market Wrap
ACA token got a high ranking on the market. It is ACALA Network’s native utility token. According to the company, it will mint the total supply of the ACA Tokens at the launch of the mainnet and store them in the ACA Reserve Pool. Later, the team will distribute part of the tokens to ACALA Foundation, Seed Investment Partners, and IPO Participants as a reward. And they will sell the rest of the coins to the public.
The token sale will begin on August 30, 2021, and end on September 3, 2021. The total amount of tokens consists of 1,000,000,000 ACAs. The platform will accept ETH, USDC, and DOT in exchange for its native coins.
The Acala Dollar stablecoin, also called aUSD, is a multi-collateral-backed cryptocurrency with stable value. It is also completely decentralized. As a result, token holders can create them by using assets from blockchains connected to the Polkadot network, such as Bitcoin (BTC) and Ether (ETH) as collaterals.
Furthermore, anyone owning the type of crypto assets supported by the ACALA network will be able to leverage them to generate aUSD tokens. They can do it simply by creating a Collateralized Debt Position (CDP) through the Honzon protocol.
How can investors use ACA?
Token holders can use ACA tokens for paying stability fees (for example, interest rate of the aUSD loan), network transaction fees, and penalty fees in case of liquidation. Users will have to pay some ACA tokens as the Stability Fee if they want to close any CDP created to generate aUSDs in the ACALA Network.
The platform will accept an equivalent amount of aUSDs or other supported assets as payment of fees. Users can automatically exchange them to ACA via the built-in exchange. When the platform receives ACA, it burns the token and removes it from the supply permanently. With the increase of the market demand for aUSDs and CDPs, so will the demand for ACA as users will need them to pay the Stability Fee.
Besides, the system constantly monitors all active CDPs. For each type of collateral, ACA holders will be able to vote for a liquidation ratio. The latter is the minimum collateral-to-debt ratio required to avoid the liquidation of an open CDP. If the collateral-to-debt ratio falls below the liquidation ratio, the CDP becomes risky.
In such a case, the system in a Collateral Auction mechanism will automatically liquidate the CDP and dedicate a liquidation penalty paid in aUSD from the collateral sales. In addition, the system will use the liquidation penalty to purchase ACA tokens.
What about the Network’s governance?
ACA token holders will have the right to propose network upgrades as it is the governance token. Users can also risk parameter adjustments (such as Stability fee, Liquidation Ratio, Debt Ceiling, and Liquidation Penalty). However, the elected on-chain General Council will approve or decline these changes.
According to the team, in situations such as a sudden price collapse of a collateral asset resulting in under-collateralized CDPs, the system will automatically dilute ACA tokens and sell them on the market for its recapitalization.
Meanwhile, you don’t want to miss BIT token’s ICO
BitDAO is one of the largest DAOs worldwide. It has the support of Peter Thiel, Bybit, Founders Fund, Dragonfly, Pantera, Spartan, and other companies. This network has pledged recurring contributions to the BitDAO treasury, exceeding $1B per year at 2021 rates.
The token sale will begin on August 16, 2021, and end on August 30, 2021. BIT is an ERC20 token. And its price is 2 USD during the initial coin offering. The company plans to raise 200,000,000 TOKENS by trading BITs. The total supply of the tokens consists of 10,000,000,000.
BitDAO aims to help to create open finance and a decentralized tokenized economy. The team believes that DeFi technology offers limitless possibilities. For instance, it enables unstoppable and permissionless financial transactions on the blockchain, including the creation of synthetic assets, trading, and lending. Not so long ago, that we wouldn’t believe that possible. With no signup process, and no intermediary approvals and execution, DeFi will fundamentally change traditional finance. It is likely to become a trillion-dollar sector. After all, tokenization has already broadened the scope of property rights, enabling new economic models for collectible NFTs, DAOs, and gaming.
BitDAO plans to allocate massive financial and talent resources to support DeFi growth. Its partners will establish R&D centers to develop the company’s core protocols (such as governance and treasury management), support DeFi partners, develop BitDAO DeFi products, and provide incubation services to emerging DeFi projects. The team believes that BitDAO affiliated R&D centers will employ hundreds of people in the coming years.
Furthermore, they are going to set up Windranger Labs – a privately funded R&D center. The company will recruit top talent in blockchain development, product, design, front-end development, and community management.
What are the company’s other plans for achieving success?
BitDAO wants to set up its own Foundation in the future. The latter will request funds from the platform. Besides, the company will encourage its partners and other teams to create additional R&D centers and request funds from its Foundation.
The platform will control one of the largest pools of assets. And it can use these assets to provide liquidity to partner protocols. As a result, BitDAO will be able to bootstrap new protocols such as DEX, synthetics, or lending.
BitDAO team will also support DeFi projects through token swaps and blockchain technologies through grants.
BetU’s Hot ICO is already live
BetU launched its high-ranked native token’s ICO today, on August 16, 2021. The sale will end at the end of the month. BETU token is very popular. It’s built on the Binance Smart Chain. The company will use 25% of the tokens’ total supply for public sale. 20% will go for the team, while 10% will be set aside for marketing and partnerships. Foundation will get another 10%, and advisors and institutional investors will have 2.5%, respectively.
The token price will be $0.02 per coin during the initial coin offering, and the platform will accept BTC, ETH, USDT, and BNB in exchange for BETU tokens.
What is BetU, and how can investors profit from it?
BetU will be an esports, sports, and crypto betting platform. Smart contracts will secure it, while the BETU Token will power the platform.
The company aims to become a leader in the global sports betting market. The latter is worth $391 Billion. That means BetU will have considerable profits if it manages to become successful. Thus far, the company shows a good start. BETU token’s popularity is good evidence.
The BetU Platform will enable users to become their own bookmakers, as well as a bet against their peers. Furthermore, Bet Makers will be able to list bets with odds of their choice, while Bet Takers will have the opportunity to accept the best bets available in the marketplace. The platform will upload individual bet details on a blockchain. What’s also important, smart contracts will help to save the funds securely until a winner is determined.
BetU wants to ensure liquidity in all betting markets. Thus, it will provide bookmaking services with competitive odds. Token holders will receive a percentage of any profits in the form of token burning.
In addition, the BetU platform will be available on the web, mobile, and tablet, which will make the use of its platform easier for every user worldwide.
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