Acala and Karura To Join Wormhole – Accessing Over $200B Liquidity

Source : coinquora.com

  • Acala and Karura to integrate with Wormhole.
  • The partnership will connect the Polkadot and Kusama ecosystem to eight layer-1 chains.
  • Wormhole enables Karura and Acala to connect to ETH, SOL, BSC to name some.

Decentralized network Acala and Karura will integrate with the multi-chain bridging platform, Wormhole. This collaboration will be the first EVM+ integration on both Karura and Acala. Hence, enabling cross-chain interoperability to all its users with asset integrations and access to over $200 billion of liquidity from leading layer-1 networks.

Furthermore, the partnership will also connect the Polkadot and Kusama ecosystem to eight layer-1 chains. In detail, across all chains, the bridge currently has a total value locked of $3.6 billion.

Based on the information gathered by CoinQuora, Karura and Acala will continue building up liquidity on both networks and begin to open the EVM+ for the first DApp launches on the networks.

In terms of the technology of Wormhole, the network enables Karura and Acala to connect to the networks supported by Wormhole. This includes Ethereum, Avalanche, Solana, Polygon, Oasis, Terra, Fantom, and Binance Smart Chain to name some.

Meanwhile, Wormhole provides the ability for Karura and Acala to communicate exchange value. As a result, Acala will be able to finalize the merge of two stablecoins — aUSD and kUSD. It will also enable aUSD to be minted on both Acala and Karura with initial collaterals including: DOT, ACA, KSM, KAR, LDOT, and LKSM.

On the other hand, the crypto community can expect the Wormhole integration to go live in the early quarter of 2022. In other words, Wormhole will go live on Karura soon in the coming weeks. Acala will be followed after the Karura integration.

Moreover, the network opens its doors to all developers interested in building a project that drives yield or utility of the aUSD stablecoin. The network is willing to fund developers using the funding from the aUSD Ecosystem Fund.

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