What is the acropolis? (AKRO)
Akropolis is software that allows developers to launch decentralized applications (dapps) offering financial services based on cryptocurrencies, owned and operated by users.
In this way, Akropolis wants to serve as a platform for many decentralized financial (DeFi) tools, all of which operate within a common framework called akropolisOS. Examples of Dapps enabled by the framework include protocols for savings, credit and securities services.
But unlike a central entity that manages and provides access to these services, Akropolis dapps are built with code and managed by autonomous communities.
This means that to vote on protocol changes, users must own and participate in the game of Akropolis' native cryptocurrency, AKRO, which someone earns by providing liquidity on protocols and dapps built on AkropolisOS.
To provide a platform, Akropolis has also integrated existing Ethereum-based DeFi protocols, such as Compound, Aave and Maker. Akropolis dapps may integrate any of these services into its liquidity pools, credit and lending services or other offerings.
Those interested in tracking the project development status can bookmark the Akropolis Project Roadmap for up-to-date details.
Who created the Acropolis?
Akropolis was founded in 2017 by co-founders Ana Adrianova and Kate Kurbanova.
In 2019, the Akropolis team held an Initial Coin Offering, where they raised $2.4 million in ETH in exchange for their AKRO token.
Since its inception, Akropolis has collaborated with many other projects and protocols, including Maker, Polkadot, Chainlink, and Bancor.
How does Akropolis work?
Akropolis aims to enable its users to both introduce new DeFi protocols and enrich their cryptoasset inventory with a series of DeFi applications that can help them manage them.
This is because each AkropolisOS-based protocol or dapp operates as an Autonomous Financial Organization (AFO), designed to operate without the need for a third-party provider.
AFOs are member-owned financial organizations built on a distributed network and whose goal is to operate something like a business, but without hierarchical management.
AkropolisOS
AkropolisOS is a software development kit (SDK) maintained by the Akropolis team to help developers build decentralized applications (dapps) on its platform.
The SDK comes with a series of smart contract modules that allow developers to customize their dapps. Additionally, AkropolisOS also includes tools to manage different DeFi protocol integrations (like Compound and Maker).
Sparta and Delphi
Sparta and Delphi are two dapps developed by the Akropolis team using the AkropolisOS framework.
Sparta allows users to borrow by providing only 50% of the collateral and inject liquidity into the protocol for a percentage of the interest.
Delphi, on the other hand, allows users to participate in different revenue farming opportunities across the DeFi space, which the platform curates. Additionally, users who want to pay on average in Bitcoin and Ethereum dollars can also do so with Delphi.
Why is AKRO valuable?
The AKRO token is the cryptocurrency used to manage and administer the Akropolis platform.
Anyone with AKRO can vote on proposals that update the rules users must follow on the network. Validator nodes are rewarded with transaction fees and newly minted AKROs for validating data in blocks, participating in consensus, and voting on network changes.
At any given time, there will only be 30 validator nodes on the network. The minimum amount users need to pledge to become a Validator is 1 million AKRO.
Users who do not have access to this amount can pool tokens and thus distribute the reward proportionally.
It is worth noting that Akropolis Sparta and Delphia each have their own ASPT and ADEL cryptocurrencies that power their applications.
Why use AKRO?
Akropolis may be of interest to any user or investor who wants access to an ecosystem of member-owned DeFi services.
Investors should perhaps add AKRO to their portfolio if they believe the platform can be the curator of software alternatives to traditional financial services.