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- Akropolis enables users to create their own Autonomous Financial Organizations (AFOs)
- Product is already deployed on testnet and users can test the creation of the first AFOs
- IEO will take place on Huobi Prime, on July 16, 2019 at 20:00 (GMT+8)
- Private sale investors will have to go under a Token Swap
What is Akropolis?
Akropolis enables users to kickstart and run their own Autonomous Financial Organizations (AFOs). With AFOs, users can gather funds that can then be used for investment, loan providing and other financial operations.
Whether the user is an already established, up and running cooperative; an informal savings group with a common goal, or an individual looking for a loan, Akropolis makes it possible for individuals to connect with each other and to regain control of their finances.
1. The Akropolis Team
Akropolis was set to do its token sale in 2018, however, due to the adverse market conditions, the team and its early contributors decided it was best to put this on hold and wait for better times.
Despite the adversities, the Akropolis team continued to work and was always really cooperative. A year has passed now and the team has never ceased to publish regular updates and the technology kept being developed.
The team entered negotiations with several exchanges and fought hard to make this project viable. Akropolis is showing real value and continued development, on top of having stepped up their fundraising efforts.
Now Akropolis is about to get in the spotlight, in high spirits: with serious exchanges on the pipeline and a testnet already deployed.
2. The Akropolis Use Case
Akropolis was initially focused on financial products for pension funds management, but the team quickly identified a product that would have a better market fit: Autonomous Financial Organizations (AFOs).
This particular new use-case for “financial DAO” finds its best product market fit in emerging countries. Individuals, business owners, and small companies can use Akropolis to create circles of members and raise money that can be then borrowed, invested and traded.
One of the strongest use cases is for loan providing services. Sometimes, individuals struggle to get loans from banks and traditional credit providers, and informal savings groups are usually a good alternative. With AFOs members can manage better those informal saving groups and help each other get loans, insurance and access to investments.
However token-wise, China being the biggest market for Akropolis at this stage, due to the nature of the solid partnerships the team has gathered lately: Polkadot (Web3 Foundation), ChainX, and rumor says there are two new big players coming into the spotlight in a few weeks time.
3. Akropolis Testnet is Ready
Creating an Autonomous Financial Organization (AFO) is already a reality with Akropolis testnet. Users can now test the AFO module and the only thing they need is access to a metamask wallet.
Buy using decentralized solutions on the blockchain, these organizations are more transparent and secure because all withdrawals, investment decisions, and other financial operations need to be approved by the majority of the AFO members.
Finally, the decision to add new members to an organization is made by voting.
4. IEO on Huobi
Last week Akropolis finally announced the Initial Exchange Offering and it will happen in one of the most credible exchanges in the market: Huobi Global. The sale is going through Huobi Prime, Huobi’s pioneering launch platform for emerging premium coins, on July 16, 2019 at 20:00 (GMT+8). The IEO is highly likely to sell out.
5. Tokenomics & Private Investors
In contrast with other projects, the Akropolis team was able to find a good balance in terms of private sale lockups and tokenomics. While other projects locked private sale investors forever and give ridiculous ETH pegs, Akropolis’ tokenomics are actually good and investors will start to be unlocked only 2 months after the IEO on Huobi.
On an important note, private sale investors will have to go under a Token Swap, the possibility of which was discussed and agreed upon with our ECA holders before tokens were distributed in January 2019 via signing supplementary agreements.
We are stating our vision and opinions, we are not giving you financial advice and if you invest in cryptocurrencies it is your full responsibility. You are investing at your own risk. Always invest only what you can afford to lose and try to diversify your investments. Finally, do your own homework and learn about the project use case, roadmap and team.