Binance Lists Altcoin Built on Polkadot (DOT), Plus An Additional Crypto Asset On Terra (LUNA)

The world’s largest cryptocurrency exchange has listed the Polkadot ecosystem’s new altcoin project and another Terra-based crypto asset (LUNA).

In a new announcement, Binance mentioned that it is listing the Ethereum-compatible smart contract platform Polkadot (DOT) parachain Acala (ACA).

Acala’s blockchain includes a decentralized finance (DeFi) protocol that application developers can take advantage of. This includes a unique stablecoin called the Acala Dollar (aUSD) and a Decentralized Exchange (DEX). We aim to become Polkadot’s “DeFi Hub” by enabling easier application creation and more efficient transactions.

As of this writing, the ACA has only been trading for 12 hours. So far, most of them have been trading lower, now it starts at $2.40 and then changes at $2.03.

A few hours later, on the same day, Binance announced that it was listing the Anchor Protocol (ANC), a lending and borrowing protocol for the Terra blockchain.

Anchor aims to provide “low-volatility” returns on Terra Stablecoin deposits at rates that leverage diversified staking reward streams from other major blockchains. The Anchor Protocol aims to provide depositors with fixed deposit returns, instant withdrawals, and initial protection by liquidating loans at risk of lack of collateral.

According to the project

“The core community believes that the source of stable and reliable returns for the stabilizers is the opportunity to become the benchmark interest rate for cryptocurrencies.”

ANC enjoyed a short bounce of 23% from $1.52 to $1.57 after its inclusion. Since then, it has given up some of its profits and stayed at $1.61.

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Featured Images: Shutterstock / Anastelfy / Long Quattro

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