What Is Akropolis (AKRO)? All You Need To Know

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Key Takeaways

  • Akropolis (AKRO) is a decentralized finance (DeFi) protocol built on the Ethereum blockchain.
  • It offers a suite of products that allow users to save, grow, and borrow cryptocurrencies permissionlessly and transparently.
  • The project is a relatively new DeFi protocol but has already gained traction in the crypto community.

What Is Akropolis (AKRO)?

Akropolis is a company and a decentralized finance (DeFi) protocol built on the Ethereum blockchain. Their goal is to create an autonomous financial ecosystem that allows users to save, grow wealth, borrow, and lend cryptocurrency all in one place.

Their DeFi protocol offers tools for users to manage their finances with a central authority. This means no central authority controls the protocol, and users have ownership through decentralized autonomous organizations (DAOs).

How Does Akropolis (AKRO) Work?

Akropolis is a decentralized finance (DeFi) platform built on the Ethereum blockchain. It allows users to:

  • Launch and manage DeFi applications.
  • Use DeFi products – Akropolis offers various DeFi products through its AFOs. Some examples include:
  • Sparta – A platform for uncollateralized lending and borrowing.
  • Delphi – A yield farming platform.
  • Dollar Cost Averaging (DCA) Tool – automatically invests fixed amounts of money into cryptocurrencies at fixed intervals.

Here’s a simplified breakdown of how Akropolis works:

AFO Creation

Developers can build AFOs on AkropolisOS, defining their specific functionalities and governance rules.

Community Participation

Users can participate in AFOs by (1) providing liquidity, (2) staking AKRO tokens, and (3) voting on proposals.

Autonomous Finance Organization (AFO)

AFOs operate autonomously based on predefined rules and smart contracts. They can generate income through various means, such as lending fees or interest earned on deposited assets. These earnings are distributed to participants according to the AFO’s specific rules.

Akropolis (AKRO) Token And Tokenomics

Tokenomics

The AKRO token is the native cryptocurrency of Akropolis. It is used for:

  • Governance
  • Transaction fees
  • Staking

Token Details

Total Supply 5,000,000,000 AKRO

Circulating Supply 4,436,209,630 AKRO

Current Price $0.005785

Market Capitalization $25,663,985

This information is current as of March 20th, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

  • 22.5% – Sold through two private token sales in 2018.
  • 8% – Sold through a Huobi Prime Offering in 2019.
  • 46% – Allocated to the Akropolis Foundation for development and ecosystem growth.
  • 14% – Allocated for community and marketing initiatives.
  • 9.5% – Split between the team and advisors.

Recent Changes

ADEL To AKRO Swap

In March 2021, Akropolis offered to voluntarily swap ADEL tokens (previously used for governance) for AKRO at a 1:15 ratio. This aimed to simplify the tokenomics and enhance value for AKRO holders.

Staking Revamp

In 2021, a proposal (AIP 011) was discussed, introducing new staking tokenomics features like token burns and locks. This aims to increase the value proposition of staking AKRO.

Where Can I Buy Akropolis (AKRO)?

  • Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.
  • KuCoin KuCoin is a smaller exchange known for its competitive fees and support for many cryptocurrencies.
  • Gate.io This exchange provides AKRO trading, other cryptocurrencies, and margin trading options.

Is Akropolis (AKRO) A Good Investment?

Pros:

  • Decentralized savings and pensions – Akropolis allows users to manage their finances and retirement plans without relying on traditional intermediaries like banks or financial institutions. This gives users more control and transparency over their finances.
  • Variety of features – Akropolis offers different features than just a savings plan, including:
  • Crypto vaults – Users can store their cryptocurrency securely and earn interest on their holdings.
  • Vortex – This feature allows users to generate passive income with potentially lower risk by participating in curated investment strategies.
  • Customizable pension plans – Users can design and manage their pension plans, which include features like automatic contributions and flexible withdrawal options.

Cons:

  • Relatively new project – Compared to some established DeFi platforms, Akropolis launched in 2018. This means it has a shorter track record and potentially higher risk than more established platforms.
  • Smart contract risk – As with any DeFi platform, Akropolis relies on smart contracts, which are complex pieces of code and can be vulnerable to bugs or exploits.

Final Thoughts

In conclusion, the project provides tools for managing one’s finances in DeFi. While it’s a newer project with risks involved, its use case on user control, features, and community governance makes it well-suited for growth and development in the DeFi space.

Via: 2Usethebitcoin.com

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