On April 14th, Coinbase, the world's largest cryptocurrency exchange, announced that it plans to use DPO for direct listing (direct listing), with the stock code COIN, officially listed on NASDAQ.
*coinbase.com
Since its establishment, Coinbase, as an industry compliance benchmark in the crypto market, obtained the BitLicense of the New York Financial Services Department's encryption license as early as 2017, and obtained official compliance certification for its operations in New York State; in 2018, Coinbase won the UK in one fell swoop An e-money license issued by the Financial Conduct Authority (Financial Conduct Authority); subsequently, Coinbase registered MSB licenses in multiple states through the Financial Crimes Enforcement Network (FinCEN).
*coinbase.com
In addition to compliance, with more than 10,000 crypto assets in the world today, Coinbase has only launched 44 currencies. According to the official website, Coinbase’s cumulative transaction scale exceeds US$455+ billion, and its assets under custody exceed US$90+ billion. The user group covers 100+ countries and the total number of people exceeds 43+ million. The reason behind Coinbase Ventures' support for Acala is even more meaningful.
01Coinbase Ventures x Acala / Karura
On April 2, Coinbase Ventures, a subsidiary of Coinbase, announced its support for Acala/Karura to jointly build a Polkadot/Kusama ecological one-stop DeFi center. As soon as the news was released, it was reported by more than 10 media including Cointelegraph at home and abroad.
See 🔎 for details: https://cointelegraph.com/news/coinbase-ventures-backing-defi-in-the-polkadot-ecosystem
In the upcoming Polkadot/Kusama slot auction, Coinbase Ventures' support for the Acala team will help Acala/Karura get the first slot on Polkadot/Kusama.
Prior to this, Acala has received 4 official funding support from the Web3 Foundation, and has received support from several world-renowned organizations including Polychain, Pantera, and DCG.
02 The significance of Acala/Karura launch
At present, the market value of Polkadot has exceeded 45 billion U.S. dollars, and it has become the top 5 in the world. However, many highly implemented ecological projects have not yet appeared in the ecological segmentation track. Acala/Karura is currently the most significant project that can be applied. The support of the team obviously injected great vitality and possibilities into the Polkadot ecology.
Acala is a one-stop Polkadot DeFi center, and Karura is a one-stop Kusama DeFi center. It provides a simple operation platform for Polkadot/Kusama users and satisfies many DeFi-related functions, such as lending, DEX, and staking liquidity. Asset LDOT/LKSM, this is currently the only platform in Polkadot/Kusama that can have so many application functions.
Imagine the future. After Karura and Acala are successfully launched through the slot, the KSM and DOT in your hands will immediately have a landing application scenario. For example, when you need to use liquidity, you don’t need to sell the KSM or DOT in your hand, and you can directly obtain kUSD/aUSD on Karura/Acala through staking; for example, when you want to obtain it in staking Asset liquidity, then you can change your KSM/DOT to LKSM/LDOT, so that you can have circulating and mortgageable chain assets LKSM/LDOT without losing staking income; another example , When you don’t want to exchange assets through a centralized exchange, you can quickly exchange assets directly through Karura/Acala DEX, and you can also become a DEX liquidity provider, earn DEX transaction fee income, and share loans The benefits of the agreement; finally, you can even participate in Liquidity Mining native to the DOT/KSM ecosystem to earn ACA/KAR rewards.
In the future, once more and more KSM/DOT are applied, the Kusama/Polkadot ecology will become more and more prosperous, and more importantly, the market performance will also be very good.
I believe that one of the best ways to promote the development of the Kusama/Polkadot ecosystem may be to give priority to the launch of Karura/Acala during the slot auction process, and provide the Polkadot/Kusama DeFi ecosystem with a series of DeFi DApps and stable assets provided by Karura/Acala Foundation to welcome a more prosperous future.