Acala Token is one of the fastest rising coin in the cryptocurrency market and has been on surge lately.
For those that lost out when Bitcoin, Ethereum, Dogecoin all had a quick run up, will want to learn more about the token and study the reviews. On this article, we will review Acala Token by listing the pros and cons.
Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.
About Acala Token
What is Acala Token?
Acala is the decentralized finance network and liquidity hub of Polkadot. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications.
ACA is the utility token that powers the DeFi hub of Polkadot. Incentivizes network nodes to monitor and relay messages to Polkadot. Empowers the community to vote, elect council members, and drive the development of Acala.
Acala Token Supply
There are 69,304,481.00 ACA in supply.
Pros and Cons of Acala Token
Pros of Acala Token
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
Cons of Acala Token
- The coin is still under research and developments
- Multiple issues with its synchronizations between ledgers
- Unavailability of project whitepaper
- Not listed on exchanges
- No Github profile
- They have no reddit acount
- No Bitcointalk thread created
- No traceable features on tradingview
Is Acala Token Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Acala Token have a very weak back up for the token they produce. Their public profiles are vague therefore making it difficult to determine their level of transparency.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Acala Token on the comment section below. Don’t forget to rate and leave a review.