Article Summary, Automatically Generated By AI
Summary of Afreum
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Launch Date:
October 5, 2020 -
Mission:
Foster true financial inclusion for disenfranchised populations in Africa and elsewhere -
Blockchain:
Built on Stellar blockchain -
Tokens:
- AFR (AFREUM token)
- AFRX (incentives and governance token for Afreum DAO)
- S tokens (stable, country-specific)
- A tokens (flexible, country-specific)
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Features:
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About Afreum
Afreum is a decentralized, open-source, and community-driven cryptocurrency ecosystem that leverages the power of blockchain technology to create a seamless, secure, and transparent financial system.
Launched on October 5, 2020, by London School of Economics alumnus Sahr Johnny, Afreum is a pioneering, crypto-native economic ecosystem built atop the Stellar blockchain. Afreum’s mission is to champion true financial inclusion for marginalized populations in Africa and beyond, bridging the gap by providing unfettered access to vital blockchain financial tools, including payments, savings, loans, remittances, atomic swaps, staking, asset tokenization, and seamless peer-to-peer transactions.
The Afreum ecosystem is fueled by the AFREUM (AFR) token, which serves as its backbone. Furthermore, the AFREUM X (AFRX) token assumes a dual role as both an incentives and governance token for the Afreum DAO. The ecosystem also boasts a diverse array of country-specific tokens, comprising stable (S tokens) and flexible (A tokens) variants, which facilitate seamless onboarding and international transactions. Collectively, the Afreum ecosystem, the AFR token, and the country-specific tokens provide a viable alternative for the financially excluded and the unbanked, while offering a gateway to DeFi opportunities for international users.
Internationally, users are motivated to contribute liquidity through decentralized finance (DeFi) inspired features, including savings and staking pools, whereas African users capitalize on Afreum’s swift and economical transactions to navigate diverse financial facets of daily life via our expanding array of applications.