Acala Network to Host Meme and DApp Contest on February 3rd

Acala Network has announced the launch of its first Meme and DApp Contest, running from February 3 to August 3. The total prize pool is 6,000,000 ACA, with monthly rewards for top participants. The contest aims to engage developers and creative creators in expanding the Acala EVM+ ecosystem. Refer to the official tweet by ACA: Builders everywhere, it’s official! The Acala Meme and DApp Contest launches this February with a massive 6,000,000 prize pool. Whether you're a meme creator or a DApp developer, build on Acala EVM+ for a chance to win .Registration: ACA InfoAcala Network is a decentralized finance (DeFi) platform operating on the Polkadot blockchain. The project was specifically developed to provide DeFi functionality within the Polkadot network. The creators of Acala aimed to offer tools for developers and users to create and utilize financial applications.The main products of Acala include the stable cryptocurrency Acala Dollar (aUSD) and the Acala DEX platform, a decentralized exchange for trading digital assets. The project also provides opportunities for staking and borrowing against collateralized digital assets.Acala Dollar is a stable cryptocurrency peg to the US dollar. aUSD enables users to participate in DeFi without relying on traditional banking services.Acala DEX allows users to trade various digital assets supported by the Polkadot network, including aUSD and other digital assets.ACA is the native token of the Acala Network and is used for various purposes within the ecosystem. ACA holders can participate in network governance by voting on proposals, including changes to the parameters of the aUSD stablecoin, asset listings, fee structures, and protocol upgrades. ACA can also be staked to secure the Acala network, generating additional income for token holders. The token is used to pay transaction fees and interact within the Acala network. Additionally, ACA can be used as collateral to mint the stable cryptocurrency aUSD. In case collateral positions are insufficient, ACA is utilized to cover the deficit.