Akropolis

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Akropolis?

Akropolis (AKRO) is a blockchain-based software that facilitates a suitable ecosystem for decentralized app developers and enables hosting for finance-oriented DApps. It is a prominent project in the DeFi sector, allowing developers to launch and manage decentralized applications without intermediaries. AKRO tokens are used for governance, staking, and payment within the network, and holders can participate in decision-making processes and earn interest on their staked assets.

How is Akropolis used?

Akropolis (AKRO) is a decentralized finance (DeFi) platform built on the Ethereum blockchain. The AKRO token is used in various ways within the Akropolis ecosystem:

  1. Governance: AKRO holders can propose and vote on changes to the protocol, ensuring decentralized governance and decision-making.

  2. Staking: Users can stake their AKRO tokens to earn rewards from fees and yields generated by the protocol. This also allows them to participate in governance and vote on proposals.

  3. Payment Method: AKRO is the main payment method on the Akropolis network, used for transactions and fees.

  1. Incentives: AKRO is used to incentivize users to provide liquidity, participate in bug bounties, and engage in other activities within the ecosystem.

  2. Validator Rewards: Validators who work on block validation are rewarded with newly minted AKRO and transaction fees for their participation in the network.

  3. Community Engagement: AKRO holders can participate in community activities, such as voting on proposals and contributing to the development of the platform.

  1. Decentralized Apps (dApps): Developers can use AkropolisOS to create and launch DeFi applications, which can be accessed by users who hold AKRO tokens.

Overall, the AKRO token plays a central role in the Akropolis ecosystem, facilitating governance, staking, and various financial activities.

How do I store Akropolis?

To store Akropolis (AKRO) tokens securely, you can use wallets that support the ERC-20 standard. Some popular options include:

  • MetaMask: A well-known Ethereum-based wallet that supports AKRO tokens.
  • MyEtherWallet: Another popular wallet that supports the ERC-20 standard and can be used to store AKRO tokens.

These wallets provide a secure environment to protect your AKRO investment.

How to buy Akropolis?

To buy Akropolis (AKRO) tokens, you can follow these steps:

  1. Choose an Exchange: Select a reputable exchange that supports AKRO trading. Some popular options include:

    • KuCoin: Known for competitive fees and trading costs, KuCoin offers AKRO trading and accepts USA residents.
    • Binance: One of the largest exchanges, Binance offers lower fees and increased liquidity but does not accept USA or Canadian residents.
    • Gate.io: A reputable exchange with an easy-to-use interface, Gate.io offers AKRO trading but does not accept USA or Canadian residents.
    • HTX: A large digital asset exchange, HTX offers AKRO trading but does not accept USA or Canadian residents.
    • Kriptomat: A secure platform that allows you to buy AKRO with credit/debit cards, SEPA bank transfers, or Skrill/Neteller payments.
    • MEXC: Offers multiple payment methods, including credit cards, global bank transfers, and third-party payments.
    • Pionex: Allows you to buy AKRO with credit cards, debit cards, bank wires, or ACH transfers, with specific options for US citizens.
  2. Create an Account: Sign up for an account on the chosen exchange. This typically involves providing personal information and verifying your identity.

  3. Fund Your Account: Deposit funds into your exchange account using the available payment methods. This may include credit/debit cards, bank transfers, or other electronic payment options.

  1. Purchase AKRO: Navigate to the AKRO trading page and enter the amount you wish to purchase. Confirm the transaction and wait for the AKRO tokens to be credited to your account.

  2. Store Your AKRO: Ensure you have a secure wallet to store your AKRO tokens. Some exchanges, like Kriptomat, provide a free, secure wallet for users.

Remember to research each exchange, understand their fees and terms, and follow all necessary security protocols to protect your investments.

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History of Akropolis

Akropolis (AKRO) is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. The project was initially announced in March 2018 and launched on the Ethereum mainnet in June 2020.

Akropolis started as a distributed savings and pensions fund, aiming to address the impending "pension deficit apocalypse" due to corruption and lack of transparency in state pension fund systems. The project was founded by Ana Andrianova and Kate Kurbanova, who held an initial coin offering (ICO) in 2019, raising $2.4 million by exchanging AKRO for ETH.

In August 2020, the project shifted its focus from pension funds to the broader DeFi space, rebranding into akropolisOS, a framework that allows developers to build and launch DeFi applications and products. This rebrand gained attention due to its user-friendly interface, yield-aggregation focus, and decentralized governance model.

The project has since developed several key products, including Sparta, a lending and borrowing protocol with low collateral requirements, and Delphi, a yield farming aggregator that optimizes returns across different platforms. Akropolis also uses its native token, AKRO, for governance and community activities within the ecosystem.

In November 2020, Akropolis suffered a hack, resulting in the loss of approximately $2 million worth of DAI. The team responded by donating 50% of the hacked tokens in vested AKRO tokens and committing to compensate users fairly.

Today, Akropolis continues to evolve, with its ecosystem consisting of Vortex, Yearn Vaults, AKRO staking, and Vortex Auto. The project remains focused on developing decentralized financial services and products without the need for centralized parties or intermediaries.

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How Akropolis works

Akropolis (AKRO) is a decentralized finance (DeFi) platform built on the Ethereum blockchain. It allows users to launch and manage DeFi applications, providing a suite of products for saving, growing, and borrowing cryptocurrencies in a permissionless and transparent manner. Here's a simplified overview of how it works:

AFO Creation

Developers can build Autonomous Finance Organizations (AFOs) on the AkropolisOS framework, defining their specific functionalities and governance rules. These AFOs operate autonomously based on predefined rules and smart contracts, generating income through various means such as lending fees or interest earned on deposited assets.

Community Participation

Users can participate in AFOs by providing liquidity, staking AKRO tokens, and voting on proposals. This decentralized governance model ensures that users have ownership and control over the protocol through decentralized autonomous organizations (DAOs).

AkropolisOS Framework

AkropolisOS is a modular framework built using OpenZepplin SDK and rooted in Façade software design. It allows developers to set up and manage DAOs quickly, with customizable features. The framework is designed to facilitate the development of AFOs, which interact with internal and external capital providers and other stakeholders.

Key Features
  • Sparta: A lending and borrowing protocol with low collateral requirements, allowing users to earn interest by providing liquidity.
  • Delphi: A yield farming aggregator that optimizes returns by accessing various DeFi opportunities across different platforms.
  • Dollar Cost Averaging (DCA) Tool: Automatically invests fixed amounts of money into cryptocurrencies at fixed intervals.
Tokenomics

The AKRO token is the native cryptocurrency of Akropolis, used for governance, transaction fees, and staking. It plays a crucial role in building network trust and enabling network governance through block validation, collateral lock-ups, and vote participation.

Security and Interoperability

Akropolis uses smart contracts to facilitate secure and transparent transactions. It also supports interoperability features, allowing it to interact with other blockchain networks and protocols, ensuring flexibility and adaptability.

Overall, Akropolis provides a comprehensive DeFi platform that empowers users to manage their finances in a decentralized and autonomous manner.

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Akropolis's strengths

The token Akropolis (AKRO) has several strengths that contribute to its value and potential growth:

  1. Decentralized Governance: AKRO is used for network governance, allowing holders to propose and vote on changes to the protocol. This decentralized governance ensures democratized decision-making and helps maintain the integrity of the network.

  2. Autonomous Financial Ecosystem: Akropolis aims to provide an autonomous financial ecosystem that includes saving and growing wealth through borrowing and lending. This ecosystem is facilitated by various products such as AkropolisOS, Sparta, and Delphi, which enable decentralized app development and integration with other DeFi platforms.

  3. Modular Framework: AkropolisOS is a modular framework that allows developers to set up and manage decentralized autonomous organizations (DAOs) quickly and efficiently. This framework is built using OpenZepplin SDK and is rooted in Façade software design, making it highly customizable.

  1. Integration with Other Platforms: Akropolis enables integration with other DeFi platforms like Ethereum and Polkadot, allowing users to access a broader range of financial tools and services. This integration is facilitated by the AkropolisOS framework and solutions like Polkahub and Polkahub Bridge.

  2. Security Measures: Akropolis has implemented several security measures, including the use of CertiK for protocol security audits and the movement of unlocked AKRO tokens to industrial-grade custodial wallets. These measures help protect the network from malicious attacks and ensure the security of user assets.

  3. Validator Node System: The network is secured by a system of validator nodes, which are responsible for validating blocks and maintaining the integrity of the blockchain. Validators are incentivized through rewards in the form of newly minted AKRO and transaction fees.

  1. Fixed Total Supply: Akropolis has a fixed total supply of 5 billion AKRO tokens, which acts as an anti-inflation mechanism and helps maintain the token's value over time.

These strengths contribute to the overall value and potential of the Akropolis (AKRO) token, making it an attractive option for investors and users in the DeFi sector.

Akropolis's risks

Akropolis (AKRO) faces several financial risks. One significant risk is the potential for hacking attacks, as seen in November 2020 when the project suffered a re-entrancy attack on the Delphi pool, resulting in the loss of $2 million worth of DAI. This incident highlights the vulnerability of DeFi projects to such attacks, which can lead to significant financial losses for users.

Another risk is the volatility of the cryptocurrency market. Market fluctuations can cause the value of AKRO to drop, affecting investors who hold the token. Regulatory uncertainties also pose a risk, as changes in laws and regulations can impact the project's operations and adoption.

Additionally, Akropolis operates in a highly competitive DeFi space, where other projects may offer similar services, potentially drawing users away from Akropolis. This competition can lead to a decrease in the token's value and usage.

Lastly, the project's reliance on decentralized governance and community involvement can also introduce risks. If the community fails to effectively govern the project or make decisions that benefit the ecosystem, it can negatively impact the financial performance of AKRO.

Overall, while Akropolis has made significant strides in the DeFi space, it is crucial for investors to be aware of these financial risks and consider them when making investment decisions.

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Did Akropolis raise funds?

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Akropolis’s team

  • Ana Andrianova: CEO and co-founder of Akropolis, with a strong background in asset management and experience working for firms like Lehman Brothers. She is also a University of Oxford graduate and has held positions such as Advisor to the Web3 Foundation and Advisory Board Member for OpenMaker.eu.
  • Kate Kurbanova: Operations Head and co-founder of Akropolis, with a strong financial background and experience in the blockchain sector. She has worked with companies like Latium and Cindicator, specializing in developing research tools and methodologies.
  • Alexander Mazaletskiy: CTO and Lead Developer, holding a PhD in Automation and Machine Learning and involved in the blockchain space since 2010.
  • Pavel Rubin: Solidity Developer.

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