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What Is Akropolis (AKRO)?
Akropolis is a decentralised finance protocol based on Ethereum that intends to provide an autonomous financial environment for conserving and developing wealth, including through borrowing and lending. AkropolisOS, a framework for establishing for-profit decentralised autonomous organisations, Sparta, a platform for collateral-free financing, and Delphi, a yield farming aggregator and tool for dollar-cost averaging, are some of the goods it provides.
AKRO, an ERC-20 token, is used by the project for protocol governance throughout its whole range of products.Akropoli was initially introduced in March 2018, with plans to release on the Ethereum mainnet in June 2020.
Who Are the Founders of Akropolis?
Ana Andrianova established Akropoli in 2017, with Kate Kurbanova joining as a co-founder later.
Andrianova co-founded and served as managing director of Apiro Capital, a data- and technology-driven investment management firm, as well as launching private equity advisory firm Sirin Capital, before forming Akropolis and operating as its CEO. She has also worked as a fund manager for Lehman Brothers and as an emerging markets hedge fund analyst for Emergent Asset Management, where she was in charge of private equity fund strategy. Kurbanova has also worked as a consultant for The Bee Token, the Web3 Foundation, Tenzorum, and OpenMaker.
What Makes Akropolis Unique?
Akropolis was planned as a distributed savings and pensions fund, a response to what it termed "a looming pension deficit apocalypse" deriving from the eventual collapse of state pension systems in its initial announcement. However, the business announced in August 2020 that it had switched its focus to developing the underlying framework for such a system by releasing AkropolisOS, which would provide for the fast deployment of for-profit capital pools.
AkropolisOS is a versatile Solidity-based system for the creation and management of distributed capital pools. It is the foundation for the company's Sparta and Delphi platforms, with the former allowing access to uncollateralized loans. Unlike other DeFi protocols, Akropolis claims that its products mitigate the risk connected with these loans by rewarding community members with AKRO for delivering appropriate risk evaluations.
In December 2018, the company announced several details about its business model, stating that it would emphasize growing a pipeline of institutional partners and clients, fostering technological and academic partnerships, and developing the Akropolis ecosystem. It also has a great number of AKRO that will be utilised for internal operations like marketing and creating partnerships.
How Many Akropolis (AKRO) Coins Are There in Circulation?
The maximum supply of AKRO tokens in Akropolis is fixed at 4 billion. Between January and June 2018, the company conducted two initial private token presales. Investors, advisors, and strategic partners were invited to the first round, while active community members were invited to the second. The two sales account for 22.5 % of the entire token supply, with the AKRO sold being sealed up for two months after the public sale before vesting monthly for another year.
Once the token was launched publicly on cryptocurrency exchange Huobi Global in July 2019, 460 million AKRO — 11.5% of the total supply — were allocated to create the initial circulating supply, with 8% going to the exchange and 3.5 going to the company.
Following the exchange's public listing, all additional AKRO was subject to lock-up periods. 9.5 %was designated for team members and advisors, with a one-year lock-up and monthly vesting for 12 months — later extended to January 2021; 14 %was set aside for marketing and community initiatives, with a two-month lock-up and monthly vesting of 2%, 1.5%, 1%, 2.5%, 4%, and 3% of total supply, respectively; and 42.5% was allocated for the company, with 40.5% having a one-year lock-up and vesting monthly over two years, and 0.5%, 0.5% and 1% of the total token supply being unlocked after 90, 120 and 180 days, respectively.
How Is the Akropolis Network Secured?
safeguard its protocol. AKRO transactions use the Ethereum blockchain's proof-of-work consensus method to validate any on-chain records as an ERC-20 token. With a PoW consensus, miners compete with one another to add new blocks to the blockchain, and a record must be confirmed by a majority of all nodes in the network before it can be uploaded.
CertiK, a blockchain security consultancy, audited the smart contracts for AKRO in August 2019. After Akropolis made some proposed improvements, the company discovered that the smart contracts were structurally sound and not vulnerable to any classically known anti-patterns or security issues.
Akropolis stated in August 2020 that various attempts at hacking its smart contracts had been unsuccessful. As a result, it transferred all unlocked ARKO still in smart contracts to custodial wallets with institutional-grade security. It introduced a bug bounty programme later that month, with incentives paid in AKRO or stable coins to those who identify previously unknown security bugs.
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