Acala Wins First Polkadot Parachain Auction With $1.3B in DOT Committed

Acala Wins First Polkadot Parachain Auction With .3B in DOT Committed
The first coveted Polkadot parachain slot was won by decentralized finance (DeFi) platform Acala after days of jockeying for first place with Moonbeam, an Ethereum compatibility bridge.The winner was decided by the candle auction process, which randomly selected a block from the past seven days, at which point Acala was in the lead.It was hard to keep track of how many times the two projects swapped the first place position during the process, which saw the first ten hopeful projects collect almost $3.5 billion in crowdloaned DOT.When contributions to the auction ended, Thursday at noon European time, Moonbeam had gathered…