Imbue Network Integrates aUSD As Its Default Stablecoin for Crowdfunding on Polkadot
Acala is excited to announce our integration with Imbue Network, a decentralized crowdfunding DAO and idea incubator on Polkadot. Imbue will integrate Acala’s Polkadot-native stablecoin, aUSD, as the platform’s default stablecoin option. This introduces a stablecoin funding avenue for Imbue’s idea incubator and provides cross-chain connectivity via Polkadot. aUSD’s integration into Imbue Network provides a stable funding option, free from price volatility for Imbue Project Initiators, and protects funding capital raised from unfavorable value fluctuation.
Meet Imbue Network: The Future of Crowdfunding on Polkadot
Imbue Network believes in Web3 functionality via housing expert ideas and promoting funding for decentralized projects in the Polkadot ecosystem. Innovative ideas enjoy community support for their solution and receive backing via the Imbue Network’s crowdfunding DAO.
Two groups of participants are featured in the Imbue Network: Project initiators and contributors. Initiators draft project proposals for Web3, whereas contributors provide funding. Imbue Network enables idea contributions by leveraging Polkadot’s ecosystem and the Substrate framework.
Imbue Network’s core principles are summarized as follows:
- Funding — Imbue enables innovators to get access to funds for their projects.
- Decentralized Autonomous Organization — Imbue allows the community to dictate, through voting, the use of their funds. This ensures the protection of community contributions.
- Vested Funding — Imbue is a decentralized network; anyone contributing funds can raise a concern and bring the issue to a vote.
Imbue Network facilitates decentralized crowdfunding and enables free-for-all access to its services. Anyone with an idea or willing to contribute to a project enjoys complete freedom in creativity.
Imbue Network’s aUSD Integration Facilitates Decentralized Crowdfunding Without Price Volatility
Imbue Network’s integration of aUSD opens access to stablecoin funding for initiators while preventing unnecessary market losses created by utilizing volatile assets.
aUSD is a decentralized, multi-collateral, crypto-backed stablecoin and the default routing asset in the DotSama ecosystem. Integrating aUSD enables Imbue Network’s system of raising funds to be fully completed in aUSD payments.
One of the benefits of aUSD integration is a USD-pegged funding option for Imbue initiators. Stablecoins like aUSD instill initiator and contributor confidence by providing a stable crypto framework for both parties; aUSD’s stability encourages mass adoption and promotes the longevity of Imbue Network’s crowdfunding platform.
How will aUSD be deployed on Imbue Network?
A global Web3 payment solution requiring funding can receive crypto to kick start or fast-track its development process; however, because of crypto’s volatility, the project may require additional support due to losses from a fluctuating value in volatile assets. Imbue’s aUSD integration enables the completion of funding rounds safe from lost capital value.
Using Imbue Network’s tendering system, individuals can advertise blockchain and crypto jobs in the community, state deliverables, and send funding in aUSD.
aUSD Funding and Tendering Creates Significant Momentum Before Imbue Network’s MVP Launch
aUSD integration creates a viable funding method for crypto enthusiasts seeking support for their ideas. Funding via a liquid stablecoin encourages greater participation and lowers barriers to entry for community participation.
Imbue Network’s integration of aUSD precedes the platform’s MVP launch, gaining significant anticipation for the milestone.
Follow the Integration
The Acala and Imbue teams will keep the community updated on the aUSD integration by communicating the platform’s progress, updates, and roadmap.
You can follow along on the Acala or Imbue Network Twitter accounts or any social links below.
Build on Acala
If you’re a team looking to build on Acala or looking for support from Acala Grants, please get in touch with our team to chat about how we can support you.
About Imbue Network
Imbue Network is a decentralized crowdfunding DAO built on the Polkadot blockchain platform. It is an idea incubator open to the entire world that allows anyone from any walk of life and any endeavor to submit and vote on ideas worth funding from the communities that believe in them the most.
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About Acala
Acala is an Ethereum-compatible smart contract platform optimized for DeFi and scaling DApps to Polkadot. The blockchain has built-in DeFi protocols for application developers to leverage, including a decentralized stablecoin (Acala Dollar — aUSD), a trustless staking derivative (liquid DOT — LDOT), and a decentralized exchange.
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