Acala Mandala Fest Season 2 🎉 Prize Drops

by Acala Network

Mandala

Mandala Test Network is the first of Acala’s trilogy networks. It is a risk-free and value-free playground for us, users, and developers to test drive functionalities of Acala.

Acala Mandala Testnet Candidate 3 (TC3) is recently launched with a full suite of open finance building blocks:

  • Staking derivative Liquid DOT : stake DOT and enjoy the rewards, while obtaining the derivative token Liquid DOT (LDOT) for trade and DeFi. You can get liquidity faster without waiting for an unbonding period.
  • Multi-collateral stablecoin aUSD : Use Bitcoin, DOT, LDOT, and other bridged in assets as collateral to loan out US dollars.
  • Built-in decentralized exchange (DeX) : instant swap tokens amongst aUSD, ACA, Bitcoin, DOT, and other supported tokens.
  • Savings account : contribute liquidity and earn rewards.

Worth noting that the DeX and savings account also serves the stablecoin protocol to supplement the liquidation process and ensure stability hence creating a virtuous liquidity cycle.

A :candy: Festival for Everyone

Our first Mandala Festival was quite a success — it attracted many participants, and we ended up giving awards to 60+ node runners, 100+ app users, 20+ bloggers, and 20+ bug hunters.

The Mandala Festival Season 2 will continue that fiesta vibe to foster a greater Acala community, whether you are a crypto enthusiast, an end-user, a node runner, a blogger, a developer, a thinker or a curious, there is something just for you.

The festival will be held between 11th May (GMT+12) and 31st May , and give out approx. 100,000 ACA & 5,000,000 KAR (read more on ACA & KAR) to festival-goers and contributors.

The festival consists of two parts :point_down:

Node Runners | 11th–31st May

Running an Acala Mandala Full Node takes no time with Docker :bomb:

  1. Stay online more often than not will have a higher probability of winning .
  2. Make sure to run your node with --name parameter plus first 10 characters of your reward receiving address e.g. –name “5DcvxiYpLn” .
  3. Make sure to get some test tokens for this address , otherwise, it cannot be verified nor be in a draw.
  4. Read more here.

App Users | 11th–31st May

Try Acala App and do the following to be in the draw:

  1. Must use the Liquid DOT (LDOT) feature: deposit DOT and get DOT derivative LDOT.
  2. Then use LDOT for any effective transactions including use Self Service Loan to borrow aUSD with LDOT, or trade on Swap exchange, or Deposit & Earn, or participate in collateral auctions, etc. excluding transfers .
  3. Read more here.

Bloggers | 11th May — 15th June

  1. Submit a blog to either Medium or Bihu regarding the Acala Network.
  2. The article must include your Acala Mandala Address to receive prizes .
  3. Submit the article link to Acala Riot Channel with keyword CANDY_BLOG .
  4. The blog must be original.
  5. We will judge both the quality (how appealing is the story, idea, perspective, insights, analysis, etc) and social reactions (number of comments, likes, twitter or other social sharing, etc).
  6. Read more here.

Enthusiasts

  1. Follow @AcalaNetwork & @CalBlockchain on Twitter.
  2. Retweet this with Polkadot/Acala account address & tag 3 friends .
  3. Get a Polkadot/Acala account address here.
  4. Read about KAR & ACA here.

Bug Hunters

Rewards are given out based upon the significance and seriousness of vulnerabilities found.

  1. Runtime bugs are specific for this repo https://github.com/AcalaNetwork/Acala, more details on the bounties here.
  2. UI bugs are specific for this repo https://github.com/AcalaNetwork/honzon-platform more details on the bounties here.

Festival-goers and contributors, have fun, learn & break things, behold & catch the candies :gift::boom:

About Acala

Acala is a first-of-its-kind decentralized finance consortium with a vision to create cross-chain open finance infrastructure for the Polkadot ecosystem. The Acala Network is a dual-protocol network: a decentralized cross-chain capable multi-collateralized stablecoin protocol, Honzon, and a trustless tokenized staking liquidity protocol, Homa. Acala aims to bring stability and liquidity to the crypto world and beyond.

Learn more and stay updated by joining Acala on acala.network, Twitter, Medium, Riot Chat, and GitHub. User guides and technical education can be found on wiki documentation.

To stay informed of the Acala launch, subscribe to our newsletter .

The Acala Stablecoin Project is proudly supported by the Web3 Foundation

About Web3 Foundation

Established in Zug, Switzerland by Ethereum co-founder and Chief Technology Officer Dr. Gavin Wood, Web3 Foundation funds research and development teams building the stack of technologies behind the decentralized web.

For more information on Web3 Foundation, visit web3.foundation.

About Polkadot

Polkadot is the first interoperability protocol that enables blockchain networks to work together under the protection of shared security.

By parallelizing transactions, Polkadot solves major scalability issues that have thus far hampered blockchain development. Polkadot also introduces a highly advanced, open governance system that will allow the network to innovate and grow at a much more rapid pace than legacy networks. Applications from decentralized finance and energy to gaming and communications will thrive on Polkadot, forming the basis of digital jurisdictions in Web 3.0. Polkadot is the first project spearheaded by Web3 Foundation.

For more information on Polkadot, visit polkadot.network.