What is Akropolis? (AKRO)
The Beginner’s Guide
Akropolis is a software enabling developers to launch decentralized applications (dapps) that provide cryptocurrency-based financial services owned and operated by users.
In this way, Akropolis seeks to serve as a platform for many decentralized finance (DeFi) tools, all operating within a common framework called akropolisOS. Examples of dapps enabled by the framework include protocols for savings, lending and investment services.
But, as opposed to having a central entity managing and providing access to these services, Akropolis dapps are built with code and governed by autonomous communities.
This means that to vote on protocol changes, users have to own and stake the native Akropolis cryptocurrency, AKRO, which anyone can earn by providing liquidity to protocols and dapps built on AkropolisOS.
As it aims to provide a platform, Akropolis has also integrated existing DeFi protocols built on Ethereum, such as Compound, Aave and Maker. Akropolis dapps can integrate any of these services into their liquidity pools, lending and borrowing services or other offerings.
Those wishing to follow the project’s development status can bookmark the Akropolis project roadmap for up-to-date details.
Who Created Akropolis?
Akropolis was created in 2017 by co-founders Ana Adrianova and Kate Kurbanova.
In 2019, the Akropolis team held an initial coin offering in which the team raised $2.4 million in ETH in exchange for its AKRO token.
Akropolis has partnered with numerous other projects and protocols since its inception, including Maker, Polkadot, Chainlink and Bancor.
How Does Akropolis Work?
Akropolis aims to give its users the ability to both launch new DeFi protocols and grow their crypto asset holdings using a suite of DeFi dapps they can help manage.
That’s because every protocol or dapp built on AkropolisOS acts as an Autonomous Finance Organization (AFO) designed to operate without the need for a third party.
AFOs are member-owned financial organizations built on a distributed network, and their goal is to operate something like a company, but without hierarchical management.
AkropolisOS is a software development kit (SDK) maintained by the Akropolis team to help developers create decentralized applications (dapps) on its platform.
The SDK comes with a suite of smart contract modules that enable developers to customize their dapps. Additionally, AkropolisOS also comes with tools for managing various DeFi protocol integrations (such as Compound and Maker).
Sparta and Delphi
Sparta and Delphi are two dapps built by the Akropolis team using the AkropolisOS framework.
Sparta allows users to take out loans, providing only 50% of the collateral, and to contribute liquidity to the protocol for a percentage of interest.
Delphi, on the other hand, allows users to participate in various yield farming opportunities across the DeFi space, curated by the platform. Furthermore, users who wish to dollar cost average into Bitcoin and Ethereum can do so using Delphi as well.
Why Does AKRO Have Value?
The AKRO token is the cryptocurrency used to manage and govern the Akropolis platform.
Anyone who owns AKRO can vote on proposals that will update the rules users must follow on the network. Validator nodes get rewarded with transaction fees and newly minted AKRO for validating data in blocks, participating in consensus and voting on changes to the network.
At any point in time, there will only ever be 30 validator nodes on the network. The minimum amount users need to stake to become a validator is 1 million AKRO.
Users who do not have access to this amount can pool tokens together, while splitting the reward proportionally as a result.
Of note, Akropolis Sparta and Delphia each have their own cryptocurrency, ASPT and ADEL, respectively, which power their applications.
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Why use AKRO?
Akropolis may be of interest to any user or investor wishing to access an ecosystem of member-owned DeFi services.
Investors may want to add AKRO to their portfolio should they believe its platform's ability to curate software-based alternatives to traditional financial services.
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