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About Akropolis
- Akropolis is a decentralized finance protocol that provides an autonomous financial ecosystem for saving and growing wealth.
- It offers products including AkropolisOS, Sparta, and Delphi.
- Akropolis uses an ERC-20 token, AKRO, for protocol governance.
Founders and History
- Akropolis was founded in 2017 with a vision of an alternative financial system.
- It transitioned to a DAO in 2022 and is operated by contributors.
- Key highlights include the first guarded launch in DeFi, an all-time high TVL of $25mn, and being part of the IDE
About Akropolis: Empowering a New Era of Decentralized Finance
Introducing Akropolis (AKRO): A Pioneering DeFi Platform
Akropolis is a pioneering company that operates a decentralized finance protocol built on the Ethereum blockchain, striving to create a self-sustaining financial ecosystem that empowers individuals to save and grow their wealth through innovative borrowing and lending mechanisms. The company’s suite of products includes AkropolisOS, a groundbreaking framework for developing profitable decentralized autonomous organizations; Sparta, a cutting-edge platform for uncollateralized lending; and Delphi, a yield farming aggregator and intuitive tool for dollar-cost averaging.
The project leverages an ERC-20 token, AKRO, to facilitate seamless protocol governance across its comprehensive suite of products.
Akropoli was initially unveiled in March 2018, subsequently making its debut on the Ethereum mainnet in June 2020.
The Visionaries Behind Akropolis: Meet the Founders
Akropolis was established in 2017 with a visionary goal of creating an alternative financial ecosystem, predicated on stablecoins pegged to non-USD-denominated, real-world assets (RWAs) and decentralized autonomous organizations (DAOs) that assume the roles of modern-day pension funds, community banks, and credit unions. Since 2022, Akropolis has successfully transitioned into a DAO, with operations overseen by its dedicated contributors, many of whom are long-standing community members. Notable milestones achieved to date include: (1) the pioneering guarded launch in DeFi; (2) an all-time high total value locked (TVL) of US$25 million; and (3) participation in the esteemed IDEO Colab DeFi Incubator & Residency Programme. AkropolisDAO continues to thrive under the guidance of its contributors.
Unveiling the Unparalleled Advantages of Akropolis
Akropolis was originally conceived as a decentralized savings and pensions fund, designed to mitigate the impending crisis of a looming pension deficit, which threatened to topple state pension systems. However, in August 2020, the company announced a strategic pivot, redirecting its focus towards developing the foundational framework for such a system, dubbed AkropolisOS, thereby enabling the rapid deployment of for-profit capital pools.
AkropolisOS is a modular framework built upon Solidity, designed to facilitate the creation and management of distributed capital pools, serving as the foundation for the company’s Sparta and Delphi platforms. Notably, Sparta provides access to uncollateralized loans. Akropolis asserts that, unlike other DeFi protocols, its products mitigate the risks associated with these loans by incentivizing community members to provide accurate risk assessments, rewarding them with AKRO tokens.
In December 2018, the company offered a glimpse into its business model, outlining a strategic focus on cultivating a robust pipeline of institutional partners and clients, forging innovative technology and academic collaborations, and expanding the Akropolis ecosystem. Notably, the company also retains a substantial holding of AKRO, which will be utilized to fuel internal operations, including marketing initiatives and partnership development.
What Is the Circulating Supply of Akropolis (AKRO) Coins?
Akropolis boasts a fixed maximum supply of 4 billion AKRO tokens. Between January 2018 and June 2018, the company conducted two private token presales, with the first round catering to investors, advisors, and strategic partners, and the second targeting active community members. These two sales collectively accounted for 22.5% of the total token supply, with the allocated AKRO being locked up for two months following the public sale, subsequently vesting on a monthly basis over the ensuing 12 months.
A total of 460 million AKRO, equivalent to 11.5% of the total supply, was released to form the initial circulating supply upon the token’s public listing on Huobi Global, a prominent cryptocurrency exchange, in July 2019. The allocation of this initial supply was as follows: 8% was allocated to the exchange, while 3.5% was reserved for the company. The remaining AKRO was subject to lock-up periods following the public listing. Specifically, 9.5% was set aside for team members and advisors, with a one-year lock-up period and a vesting schedule that spanned 12 months, later extended to January 2021. Furthermore, 14% was earmarked for marketing and community initiatives, with a two-month lock-up period, followed by a vesting schedule that released 2%, 1.5%, 1%, 2.5%, 4%, and 3% of the total supply, respectively, over a predetermined period. Additionally, 42.5% was allocated to the company, with 40.5% subject to a one-year lock-up period and a vesting schedule that spanned two years. The remaining 0.5%, 0.5%, and 1% of the total token supply were unlocked after 90, 120, and 180 days, respectively.
Akropolis’ vesting schedules are subject to periodic updates, which are transparently disclosed in a publicly accessible online spreadsheet.
The Security Architecture of the Akropolis Network: A Robust Framework
The Akropolis suite of products leverages a governance token, AKRO, to bolster the security of its protocol. As an ERC-20 token, AKRO transactions are anchored to the Ethereum blockchain, which employs a proof-of-work (PoW) consensus algorithm to validate on-chain records. In this PoW framework, miners engage in a competitive process to add new blocks to the blockchain, and a consensus among a majority of nodes within the network is required to confirm a record, thereby rendering it official.
In August 2019, esteemed blockchain security firm CertiK conducted a thorough audit of AKRO’s smart contracts. Following the implementation of recommended modifications by Akropolis, CertiK concluded that the smart contracts were “structurally sound and devoid of any commonly known anti-patterns or security vulnerabilities.”
In August 2020, Akropolis disclosed that it had thwarted multiple attempted hacks targeting its smart contracts, albeit unsuccessfully. In response, the company migrated all unlocked ARKO tokens still stored in smart contracts to custodial wallets boasting enhanced, institutional-grade security features. Later that month, Akropolis introduced a bug bounty program, offering rewards in AKRO or stablecoins to individuals who successfully identify and report previously unknown security vulnerabilities.
Where to Acquire Akropolis (AKRO): A Comprehensive Guide
AKRO has expanded its market presence, migrating from its initial listing on Huobi Global to a diverse range of prominent exchanges, including Binance, MXC.COM, KuCoin, and Uniswap (V2). This broad availability enables AKRO to be traded against a variety of fiat currencies, such as the U.S. dollar, as well as prominent cryptocurrencies like Bitcoin (BTC) and Ether (ETH), and stablecoins like Tether (USDT) and USD Coin (USDC).
Are you intrigued by the prospect of acquiring AKRO or other prominent cryptocurrencies like Bitcoin? CoinMarketCap offers a straightforward, step-by-step guide, designed to educate you on the intricacies of cryptocurrency and facilitate your inaugural purchase.
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