- 1. Introduction
- 2. Overview
- 3. Building
- 4. Run
- 5. Development
- 6. Bug Bounty
This project is initiated and facilitated by the Acala Foundation. Acala Foundation nurtures applications in the fields of decentralized finance protocols, particularly those that serve as open finance infrastructures such as stable currency and staking liquidity. The Acala Foundation is founded by Laminar and Polkawallet , participants and contributors to the Polkadot ecosystem. The Acala Foundation welcomes more industry participants as it progresses.
The significance of cross-chain communication to the blockchain is like that of the internet to the intranet. Polkadot empowers a network of public, consortium and private blockchains, and enables true interoperability, economic and transactional scalability. A cross-chain stablecoin system will:
- create a sound, stable currency for low cost, borderless value transfer for all chains in the network
- enable commerical lending with predictable risk
- serve as a building block for more open finance services
The Acala Dollar stablecoin (ticker: aUSD) is a multi-collateral-backed cryptocurrency, with value stable against US Dollar (aka. 1:1 aUSD to USD soft peg). It is completely decentralized, that it can be created using assets from blockchains connected to the Polkadot network including Ethereum and Bitcoin as collaterals, and can be used by any chains (or digital jurisdictions) within the Polkadot network and applications on those chains.
By this nature, it is essential that the Acala Network eventually become community-owned with an economic model that can sustain its development and participation in the Polkadot network, as well as ensure its stability and security. The following section will provide a high-level overview of the following topics:
- aUSD and the Honzon stablecoin protocol
- the economic model and initial parachain offering
2.1. aUSD and the Honzon stablecoin protocol
Every aUSD is backed in excess by a crypto asset, the mechanism of which is known as an over-collateralized debt position (or CDP). Together with a set of incentives, supply & demand balancing, and risk management mechanisms, as the core components of the Honzon stablecoin protocol on the Acala Network, the stability of the aUSD is ensured. The CDP mechanism design is inspired by the first decentralized stablecoin project MakerDAO, which has become the DeFi building block in the Ethereum ecosystem. Besides, the Honzon protocol enables many unique features - native multi-asset support, cross-chain stablecoin capability, automatic liquidation to increase responsiveness to risk, and pluggable oracle and auction house to improve modularity, just to name a few.
The Honzon protocol contains the following components
- Multi Collateral Type
- Collateral Adapter
- Oracle and Prices
- Auction and Auction Manager
- CDP and CDP Engine
- Emergency shutdown
- Honzon as an interface to other components
Note: This section is still work in progress, we will update more information as we progress. Refer to the Github Wiki for more details.
2.2. Acala Network Economic Model
The Acala Network Token (ACA) features the following utilities, and the value of ACA token will accrue with the increased usage of the network and revenue from stability fees and liquidation penalties
- As Network Utility Token: to pay for network fees and stability fees
- As Governance Token: to vote for/against risk parameters and network change proposals
- As Economic Capital: in case of liquidation without sufficient collaterals
To enable cross-chain functionality, the Acala Network will connect to the Polkadot in one of the three ways:
- as parathread - pay-as-you-go connection to Polkadot
- as parachain - permanent connection for a given period
- as an independent chain with a bridge back to Polkadot
Becoming a parachain would be an ideal option to bootstrap the Acala Network, and maximize its benefits and reach to other chains and applications on the Polkadot network. To secure a parachain slot, the Acala Network will require supportive DOT holders to lock their DOTs to bid for a slot collectively - a process known as the Initial Parachain Offering (IPO). ACA tokens will be offered as a reward for those who participated in the IPO, as compensation for their opportunity cost of staking the DOTs.
Note: This section is still work in progress, we will update more information as we progress. Refer to the token economy working paper for more details.
To connect on the "Mandala TC6" network, you will want the version
~0.7.10 code which is in this repo.
- Mandala TC6 is in Acala repo master branch.
curl https://sh.rustup.rs -sSf | sh
You may need additional dependencies, checkout substrate.io for more info
sudo apt-get install -y git clang curl libssl-dev llvm libudev-dev
Make sure you have
submodule.recurse set to true to make life with submodule easier.
git config --global submodule.recurse true
Install required tools and install git hooks:
Build Mandala TC native code:
You can start a development chain with:
To type check:
To purge old chain data:
To purge old chain data and run
Note: All build command from Makefile are designed for local development purposes and hence have
SKIP_WASM_BUILD enabled to speed up build time and use
--execution native to only run use native execution mode.
6. Bug Bounty
The Bug Bounty Program includes only on-chain vulnerabilities that can lead to significant economic loss or instability of the network. You check details of the Bug Bounty or Submit a vulnerability here: https://immunefi.com/bounty/acala/
7. Bench Bot
Bench bot can take care of syncing branch with
master and generating WeightInfos for module or runtime.
Generate module weights
Comment on a PR
/bench runtime module <module_name> i.e.:
Bench bot will do the benchmarking, generate
weights.rs file push changes into your branch.
Generate runtime weights
Comment on a PR
/bench runtime <runtime> <module_name> i.e.:
/bench runtime mandala module_currencies.
To generate weights for all modules just pass
/bench runtime mandala *
Bench bot will do the benchmarking, generate weights file push changes into your branch.
Bench Acala EVM+
Comment on a PR
/bench evm to benchmark Acala EVM+ and bench bot will generate precompile weights and GasToWeight ratio.
8. Migration testing runtime
If modify the storage, should test the data migration before upgrade the runtime.
Try testing runtime
try-runtime on karura
# Use a live chain to run the migration test and save state snapshot to file `snapshot.bin`. # Add `-m module_name` can specify the module. cargo run --features with-karura-runtime --features try-runtime -- try-runtime --chain=karura-dev --wasm-execution=compiled on-runtime-upgrade live --uri wss://karura.api.onfinality.io:443/public-ws --at=0x9def608d5674f6d16574f53849218fe13d80ec1042ef7c2d4de7d4c50abab806 -s /tmp/snapshot.bin # Use a state snapshot to run the migration test. cargo run --features with-karura-runtime --features try-runtime -- try-runtime --chain=karura-dev --wasm-execution=compiled on-runtime-upgrade snap -s /tmp/snapshot.bin
try-runtime on acala
cargo run --features with-acala-runtime --features try-runtime -- try-runtime --chain=acala-dev on-runtime-upgrade live --uri wss://acala-polkadot.api.onfinality.io:443/public-ws -s /tmp/snapshot.bin cargo run --features with-acala-runtime --features try-runtime -- try-runtime --chain=acala-dev on-runtime-upgrade snap -s /tmp/snapshot.bin
Build RelayChain and Parachain local testnet to develop.
cd launch # install dependencies yarn # generate docker-compose.yml and genesis # NOTE: If the docker image is not the latest, need to download it manually. # e.g.: docker pull acala/karura-node:latest yarn run start generate # start relaychain and parachain cd output # NOTE: If regenerate the output directory, need to rebuild the images. docker-compose up -d --build # list all of the containers. docker ps -a # track container logs docker logs -f [container_id/container_name] # stop all of the containers. docker-compose stop # remove all of the containers. docker-compose rm # NOTE: If you want to clear the data and restart, you need to clear the volumes. # remove volume docker volume ls docker volume rm [volume_name] # prune all volumes docker volume prune
copy acala related launch json to polkadot-launch:
# $polkadot-launch is the home of polkadot-launch cp scripts/polkadot-launch/*.json $polkadot-launch/
git clone -n https://github.com/paritytech/polkadot.git cargo build --release cp target/release/polkadot /tmp/polkadot
launch polkadot and parachain with json config file in polkadot-launch:
there're other json file that will run both karura and other parachain.
- scripts/polkadot-launch/acala-statemine.json: run karura and statemine
- scripts/polkadot-launch/acala-bifrost.json: run karura and bifrost
11. Build For Release
For release artifacts, a more optimized build config is used. This config takes around 2x to 3x longer to build, but produces an more optimized binary to run.