Redenomination of ACA
Effective on April 6 2021, the total fixed supply of (new) ACA will increase 10 times to 1,000,000,000. ACA token distribution and token economics remain the same.
Acala chain is not live, so ACA redenomination does NOT have any impact on anyone, therefore this is for your information only.
Key Points for the redenomination:
- After 10x redenomination, the total fixed supply of (new) ACA will increase 10 times to 1,000,000,000.
- ACA balances will increase by a factor of 10.
- The distribution of ACA does NOT change, and holders of ACA still own an equal share of the network as before the change. ACA token economics also does NOT change.
- As an example, if an account has 1,000,000 (old) ACA that is 1% of the total supply, then after redenomination, the account would still have 1% of the total supply which is 10,000,000 (new) ACA.
- The main benefit of this change similar to the redenomination of DOT is to avoid using small decimals when dealing with ACA and make calculations easier.
- The main benefit of doing this before mainnet is that redenomination is way simpler before the Acala chain is live, with less confusion and NO impact to users and service providers like exchanges and wallets, etc.