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In this episode of the FinancialFox, Steffy talks to Dan Reecer VP Growth of Acala and Karura Network, all-in-one DeFi hubs of Polkadot and Kusama. They discuss the Polkadot ecosystem, Kusama chain, Defi, cross-chain communication and interoperability, chain customisation and upgrading, security governance, Polkadot wallet, what is Acala and Karura Network and how they work together to innovate the space.
1:40 The DeFi market
3:30 Potential of DeFi in developing countries
4:45 Polkadot ecosystem
7:10 What are the problems Polkadot addresses?
11:50 Security in Polkadot
13:55 What is Kusama?
18:00 Karura: Innovation arm
19:55 Risks associated with innovation
21:00 Proof of Work or Proof of Stake?
22:00 Acala & Karura: Applications
28:50 Work with Compound
30:00 Stablecoin project
31:50 What’s next for Karura and Acala?
36:00 Crowd loan: Community involvement for auction
38:50 When the auction is going to happen?
41:30 Can Ethereum-based projects take part in the auction?
43:40 How does integration happen in Acala?
46:35 Polkadot Wallet
49:10 Scalability on Polkadot & gas fees
53:15 Steffy’s final thoughts
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