Akropolis

비공식적 금융에 적합한 도메인 특화 금융 프로토콜

home link http://akropolis.io

reference material

Community

Market
- KRW
Exchanges that listed the coin
-
Symbol
AKT
Dapp
To be released
Project introduction

아크로폴리스는 비공식적 금융에 적합한 도메인 특화 금융 프로토콜입니다. 아크로폴리스 프로젝트는 정부, 은행, 별도의 재정 기관에 의존하지 않고 분산 네트워크를 통해 기본 금융 서비스 (저축, 투자, 사화 보험) 등의 부분을 제공하기 위해 설계된 프로토콜을 구축하는 것을 목표로 시작되었습니다. 아크로폴리스는 Polkadot, ChinaX, Maker DAO, Aergo와 같은 여러 팀들과 파트너십을 맺었습니다.

Executives and partners

Ana Andria

Founder

Kate Kurbanova

Co-Founder

Alex Maz

Technology Lead

Peter Robertson

Pensions & Insurance

Alex Koz

Blockchain R&D

MakerDAO

Polkadot

Medium

BlockVC announces its suppo...

BlockVC announces its support for project Akropolis — long term commitment towards large scale adoption of blockchain technologiesBlockVC has announced today in a meet-up in Beijing, China, their long term commitment towards the Akropolis project and token, AKRO. The top tier crypto asset venture fund, has over 25,000 BTC in assets under management. BlockVC has been working in close collaboration with the DeFi protocol and now sealed a material investment in the project.Akropolis, set to launch its AKRO token today on Huobi Prime, is building an interoperable framework for group savings and investments. By providing the infrastructure for people to build their own Autonomous Financial Organizations, and allowing these to invest, save, and give their members social insurance, leveraging both DeFi and real-world credit, loans, and other financial service providers.“We are delighted to have secured the support of BlockVC and have been impressed with their long-term vision, flexible and professional approach”- Ana Andria, Akropolis CEO and Founder.BlockVC’s carefully curated portfolio includes projects like Republic, Perlin, NuCypher, RSK, Celer and QTUM. The top tier investment firm is focused on advising, researching and investing, in addition to raising awareness on the projects through educational roadshows and other events.About BlockVC: The investment firm’s motto “bring blockchain into mainstream” explains the direction of their portfolio. BlockVC’s direction covers public chain infrastructure, protocol application layer financial services in the blockchain ecosystem.Forming a diverse ecosystem and providing long-term capital support for institutional partners. BlockVC has over 150 global investment projects and an underlying exposure to 60 projects, with more than $500 million in management and 100 employees worldwide. More info here.About Akropolis: Half of all the assets in the world are owned by pension funds. The global pensions deficit currently standing at 3x global GDP or $47 trillion. Akropolis set out with the objective to build a protocol that enables creation of a distributed financial network comprising member-owned financial organisations designed to step in to provide the trifecta of basic financial services (savings, investments, social insurance) through a distributed network without reliance on governments, banks or other legacy financial institutions. Result: resilience to global contagion risks in the event of a financial crisis. Akropolis is committed to platform agnosticism and domain-specific chains, cementing partnerships with Polkadot and ChainX, MakerDAO, and POA.A significant part of the team effort is directed towards interoperability research and development, and supporting ecosystems — eg. running validator nodes in Polkadot, building the Akropolis Parachain, and ChainX validator nodes.More info about Akropolis here.BlockVC announces its support for project Akropolis — long term commitment towards large scale… was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 16

Akropolis (AKRO) to launch ...

TLDR: NONE, THIS IS IMPORTANT. READ THE WHOLE THING.Hello everyone! We are glad to announce that we will be launching AKRO on Huobi Global as part of the exchange’s Prime program starting at 20:00 (GMT+8) on July 16, 2019.Akropolis has analyzed every option for distributing our tokens and learnt a lot about what to do, and what not to do. If in the end, the users are satisfied, we hope our example can help others looking to do a fair token distribution.Through this article, we will explain to newcomers and our community how Akropolis works, why have we decided to launch our token on Huobi Prime, what you need to do, what you DON’T need to do, and more. Most importantly, we will focus on something that is a core priority for the Akropolis project: responsibility, due diligence and conducting a fair, well-coordinated and measured Launch.First off: what is Huobi Prime?Huobi has prepared a really good article on the matter — we recommend digging into it!During a specific period of time (after the Huobi Prime Countdown is up), users will be able to buy AKRO in the platform. Before the countdown is up, you will be able to see a lot of information about Akropolis and our token, AKRO in the platform. If anticipation is killing you, we have you covered! There is plenty of up to date information in our wiki — dig in!Our team has always considered that the correct launch and distribution of our token is an important step. Huobi Prime launches are different from traditional launch platforms insofar at it combines wide token distribution and an additional layer of validation and due diligence provided by Huobi’s team. It is as important for a project to work with the right partner that understands and supports it token, as it is for Huobi to select legitimate, committed and promising projects to work with.We believe we have all the necessary characteristics to be an excellent fit for a Huobi Prime launch for the following reasons:Real-world use case, validated product-market fit, large total addressable market.It is a Social impact-project.Viable token model modeled on MakerDAO, with a token that cannot be replaced with a stablecoin.An ongoing partnership with Polkadot — and ChainX within the Polkadot ecosystem. We are committed to build the new DeFi interoperable landscape and contribute to both the Polkadot Protocol with our products and lowering the barriers of entry of new developers for the whole ecosystem.Favorable unlock schedule demonstrated long-term commitment on behalf of the team (team and advisory tokens first unlock in July 2020).Finally, we consider the Prime Global AKRO launch as a perfect mechanism to widely distribute our token to ensure robust governance functionality at the protocol level.Why did Akropolis (AKRO) choose Huobi Prime?We are committed to helping them by putting our team to work on conducting a fair and responsible coin launch. We believe that Huobi is one of the most promising platforms for projects wanting to do this, and are happy to be working with such a diligent team.“Huobi Prime is different from similar coin launch platforms; they combine the best elements of larger token distribution mechanisms and an additional layer of validation and due diligence provided by the exchange” said Kate Kurbanova, Co-Founder of Akropolis. “We are happy to collaborate with Huobi Prime and look forward to continuing to develop our platform to help provide our users access to financial infrastructure.”Most importantly, Huobi Prime has the following benefits:All coins purchased through Huobi Prime are immediately deposited into User’s accounts and are tradable on Huobi Global against Huobi Token (HT), their native token.No need to wait for presales or similar delays.Rigorous screening and selection processes to ensure only premium projects that have yet to be listed on any major exchange are included.Early access to premium coins.Access for both big and small players. Huobi Prime is open to average users, not just professionals or VIPs.In order to mitigate periods of extreme volatility when the market opens, and to reduce the risk of adverse impacts on users, Huobi Prime has also added a period of tiered price limits.What do we need from you, in order for you to join Huobi Global Prime AKRO launch?This is getting easier and more direct with every answer: we need you to do your own due diligence on the project! We want you to ask all the questions you have, read what we do, how we do it.Moreover, our moderators will be with you 24/7 to answer all your questions. We are building tools to help you break free from legacy financial systems that have let the world down. Come join the revolution.“Okay, we get it! You really mean it when you say you are responsible! Now tell us how to participate!”The quintessential checklist:Read our materialsDecide on your investment responsibly, DYORJoin the Huobi Prime Global Launch for AKRO, follow their steps and feel free to reach us for any inquiries!Once again, thank you for your support — we look forward to connecting with all our token holders and building the new financial paradigm together!About Akropolis: Half of all the assets in the world are owned by pension funds. The global pensions deficit currently standing at 3x global GDP or $47 trillion. Akropolis set out with the objective to build a protocol that enables the creation of a distributed financial network comprising member-owned financial organisations designed to step in to provide the trifecta of basic financial services (savings, investments, social insurance) through a distributed network without reliance on governments, banks or other legacy financial institutions. Result: resilience to global contagion risks in the event of a financial crisis.Akropolis is committed to platform agnosticism and domain-specific chains, cementing partnerships with several players across different chains, such as Polkadot and ChainX, MakerDAO, and POA.A significant part of the team effort is directed towards interoperability research and development, and supporting ecosystems — eg. running validator nodes in Polkadot, building the Akropolis Parachain, and ChainX validator nodes.More info about Akropolis here.Akropolis (AKRO) to launch on Huobi Prime: the why, the how and the what was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 15

Akropolis + Dai: creating s...

MakerDAO and Akropolis share the same goal: contribute to ushering in a more efficient, fairer, accessible financial system for all, regardless of geography. Our mission is to enable the creation of user-owned financial organizations resilient to inflation and systemic shocks, through separating these from the interbank lending system.Akropolis set out with the objective to build an alternative to the current pensions and social provision, currently representing a debt of over US$47 trillion. In the environment where people move from initial over-reliance on the state to increased self-reliance, the solution to economic resilience lies in the provision of low-cost financial infrastructure that delivers basic financial products with minimal contagion risks. Dai, from MakerDAO, especially the much anticipated multi-collateral Dai, is mission-critical to this.Stablecoins, especially counter-inflationary stablecoins incl. multi-collateral ones are vital to adoption of any new financial tool or protocol. By its design, multi-collateral Dai fits perfectly into the protocol and adds a much needed layer of stability, transparency and trustworthiness, while conducting limitless financial operations to grow this informal economy.After extensive research, the team found the most valuable insights in centuries-old community run financial organizations, including ROSCAs, Co-ops, Kenyan Chamas, etc. These organizations, which have limited dependency on the global banking system, have proved to be more resilient to economic turmoil.Akropolis’ target use cases are countries with high inflation countries in excess of 20%p.a., characterised by absence of deeply entrenched legacy financial infrastructure, nascent fiat/crypto rails and accessible distribution network, typically via mobile operators. Dai is a perfect solution.“Working with Akropolis unlocks a completely new opportunity for people in countries with high inflation and another powerful use case for Dai” said Rune Christensen, CEO and co-founder of MakerDAO. “Our hope is that access to a decentralized and unbiased currency through Akropolis will create new options for people around the world.”“We are excited about our integration with Maker, the team has been incredibly supportive and professional from the very first interaction, and we look forward to integrating Dai into our product.” — Ana Andria, Akropolis Founder and CEO.About Akropolis: Akropolis provides a platform and toolkit for scalable, well-coordinated and transparent informal economies. Akropolis empowers and enables people to build, scale and professionalize informal financial organizations via our comprehensive, user-friendly and complete platform. We take the best of legacy financial systems and through technology, re-engineer them to adapt them to a wider, more inclusive and borderless user base. More info here.About Dai: Dai is the world’s first unbiased currency. Unlike traditional currencies, it’s impervious to geopolitical instability and manipulation. Dai is the leading decentralized, asset-backed, stablecoin — currently on Ethereum, DAI is built to be blockchain agnostic.Dai extends the power of traditional currency with the benefits of the blockchain: it can be freely sent to others, used as payments for goods and services, or held as long-term savings. Click here for more.Akropolis + Dai: creating safeguards against inflation and economic crises through technology was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 11

Interoperable DeFi: Akropol...

Interoperable DeFi: Akropolis, ChainX and Polkadot broadening the spectrum of the new financial systemDEXes, borrowing/lending protocols, derivatives, payment channels, and their combination with on-chain governance have been blooming in the Blockchain Ecosystem.Facilitating the interoperation, agnostic messaging and scalability of the already existing protocols, and the new ones surfacing on a monthly basis — is a milestone that every project should consider in order to empower this new financial landscape.ChainX is building a financial blockchain based on Substrate set to become a parachain in the Polkadot ecosystem — however built in an interchain and agnostic fashion. It aims to bridge the gap between Ethereum-based DEXes and other dApps in other blockchain ecosystems. Currently, ChainX has built a BTC bridge and their own on-chain Decentralized Exchange. Through it, any chain can have asset interoperability if connected to ChainX. As a Parachain, ChainX allows for inter-blockchain communication and asset transfer, by creating the aforementioned bridges.On the other hand, Akropolis is building a protocol which proposes a constellation of autonomous, independent, however fully interoperable (within the network and outside — with other protocols and chains) organizations. Being able to leverage ethereum-based DeFi protocols, payment channels as Bitcoin’s Lightning Network, and, for instance, privacy-preserving crypto assets as ZCash or Grin; will widen the potential of the Autonomous Financial Organizations built on Akropolis.Maker DAO’s building an outstanding financial system, able to decouple users from traditional institutions, having already locked more than 454M USD in ETH in CDPs. DAI, Maker DAO’s stable coin, has become a key component for any financial protocol while contributing to capturing users due to the reduction of the fear of adoption of crypto-assets for their volatility. Akropolis believes in the provision of the low-cost financial infrastructure that delivers basic financial products with minimal contagion risks. DAI, from MakerDAO, especially the much anticipated multi-collateral DAI, is mission-critical to this.Now, imagine if all these tools and protocols could interconnect and operate, creating an immense hub — so large that step by step would be able to grow robust enough to dethrone banks, credit institutions, and governments. This is the ultimate goal blockchain technologies should have. Polkadot is a heterogeneous multichain framework able to help substantially in achieving this. By interconnecting blockchains through the Polkadot hub, the scaling potential of the protocols we build will grow astronomically, and by leveraging cheaper transactions, wider adoption will follow.How many of you, have considered gaining interest for your savings through a bank? Now, how many of you have locked your assets into a lending platform, through a 5-minute process and are earning interest minute by minute?This simple thought exercise indicates that we have already begun decoupling from traditional institutions. Decentralized Finance doesn’t care about the users’ real-world credit score. Your earnings depend only on your platform choice and the number of assets you decide to “put to work”.Growing this ecosystem and fomenting its robustness and growth is an incredibly important task — in the hands of the technologists behind every protocol. We need to be aware that every step forward towards the growth of DeFi means a step forward towards the emancipation from the legacy financial system.Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialDo you have any questions? Please ask by email! team@akropolis.ioInteroperable DeFi: Akropolis, ChainX and Polkadot broadening the spectrum of the new financial… was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 10

Akropolis Community Prime A...

Dear Akropolis Community,We will never stop emphasizing how much we value our community — you’re our friends and a true inspiration to be better every day! You all also know our love for the Community Quest and educational activities — and as we keep seeing, you love it too 🙂Thus, we decided to reward the best out of the best of our quest participants — please read below!As you know, we designed a point system for Akropolis Community Quest 3 — and this is a good chance to test it with a real challenge — how to allocate the prizes when each one of you is so cool, supportive and intelligent?We decided to proceed as follows:After completion of all quest activities, we will publish a spreadsheet with all the participants and the total points they received during the quest.The first ten places will receive an allocation of a 4,000 HT trading cap.Places from 11th to 20th will receive an allocation of a 3,000 HT trading cap.The third wave (21st-30th) will receive an allocation of a 2,000 HT trading cap.Everyone below 30th place will receive an allocation of 1,000 HT trading cap if they have collected at least 150 points during the quest or up to 110 people.Remember, all activities count — articles, videos, stickers, GIFs — you can check the full list here.What are the deadlines?The Akropolis Community Quest 3 will end on July 13, 23:59 UTC, so you will have to submit your work before this. And another update for those who really don’t want Quest to end — we will have two additional rounds, on July 9 and July 12 👀What does the allocation for Huobi Prime mean?Simply put, it gives you the ability to take part in the Prime launch of Akropolis — even if you haven’t been holding the required amount of Huobi Tokens since May 22.For example, if you have a trading cap of 2,000 HT, you have the right to take part in the Prime launch and place orders of up to 2,000 HT.P.S. Please note that it is not a Huobi Token giveaway, as well as it is not a USDT giveaway. We are just providing the ability to participate in the offering without a previous HT holding period.So the last question is — what we need from you if you want to participate?Please make sure that you read carefully and understand everything.You need to have at least 150 points to be eligible to receive an allocation — please refer to our points system and list of activities to find out how to get them.You need an account on Huobi Global exchange, with KYC in place. For more information about creating an account on Huobi and KYC please refer to this article.You will need to fill a specific form (which will be posted on July 13th) and provide us with your UID (unique identification number) on Huobi Global exchange. You will need to provide it no later than July 14, 18:00 UTC.Your CAP will be updated before Huobi Prime 4 launches on July 16.Don’t have a Huobi Global account? Register here: https://www.hbg.com/en-us/register/Can’t find your Huobi Global UID? Check it here: https://huobiglobal.zendesk.com/hc/en-us/articles/360000196181-How-do-I-find-my-UID-You can also win trading quota by participating in Huobi Global Activities, rules are here.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}☎️Calling Crypto Twitter - can you hear me? Get 1,000 $HT trading cap on Prime 4⃣! 🔥Complete these task &amp; get your shot: https://t.co/KINZTPnwxn #Primed4Prime4 $HT #Crypto #Contest — @HuobiGlobalfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}This is pretty much it, if you have any questions or suggestions — feel free to go to our Telegram and ping @Sidzuka there or write to us directly via team@akropolis.io.Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialDo you have any questions? Please ask by email! team@akropolis.ioAkropolis Community Prime Allocation was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 09

Token Metrics, Token Swap A...

Dear Akropolis community,As you know, last year we had a successful private pre-sale which was followed by a lot of development, technical and product research. We have always believed that a public launch would be one of the best and fairest ways to distribute tokens, so we were delighted to have our approach supported by Huobi Global and their Prime platform, which will culminate in a Huobi Prime Launch on July 16. Please note that we are not conducting any private sales prior to the Huobi Prime launch — be aware of scammers. For more details, please head to the detailed instructions provided on the Huobi website here.Conducting a Public Launch means that we needed to amend the existing token metrics to make the token distribution fair for all members of our community. Huobi Prime Launch offers a powerful way of raising awareness of the project, building up our presence in China, by far the most important market in our industry, and continue supporting broader Polkadot ecosystem worldwide.The updated figures are below:Community initiativesFor our Quest, ambassador programs and regional marketing campaigns participants, the terms are as follows:For Quest participants — you will need to pass KYC to receive your tokens. If you already did — there is nothing to do anymore, if not — please contact us via team@akropolis.io.For Bounty and regional marketing campaign participants — we set up a page on our website, where you will need to agree to Terms&Conditions and submit ETH address which you provided alongside with registration for the corresponding campaigns.Token Swap AnnouncementIn order to simplify the token swap procedure and eliminate any potential instances of fraud during the oldAKT to newAKT token swap, we decided to change the token ticker to an easy to remember AKRO.Please note that the old AKT smart contract has been deprecated. AKRO is governed by this smart contract and reflects the current token metrics.We’re in direct and constant contact with our ECA holders and will update them on the matter.We understand some of our tokens were resold. In case you are a pool participant, you will need to do the following for a successful token swap:Go to our websiteAgree to the Terms and ConditionsInsert the original contribution’s ETH address (where you hold old AKT tokens)Click “Submit”… That’s it!You will receive your AKRO to the same ETH address according to the vesting schedule provided above.Thank you for your ongoing support!The webpage for the token swap will be published next week. Detailed coverage of the token swap will be propagated across all our social media channels, however you can always reach out to our core team members directly through our official channels: @tomboytrader, @sidzuka or via email — team@akropolis.io.Token Metrics, Token Swap Announcement and Instructions was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 08

Building Akropolis on Polka...

Building Akropolis on Polkadot — Pt. IThe Akropolis project subscribes and builds towards achieving the Web 3.0 vision, working on contributing to create an alternative financial infrastructure, designed to help people claim back and be the masters of their future financial security without reliance on banks, governments, or financial institutions.Akropolis’ solution is designed to provide a robust alternative in the event of a large-scale financial crisis and a wide institutional collapse, involving a run on banks, consequent retracement of depositor protection schemes, bankruptcy of pension funds, and rising inflation eroding private savings as a result of multiple rounds of quantitative easing.The Akropolis protocol is designed to enable free, quick and easy set up, management, and cross-exchange of value and data between informal or natively digital financial organizations be they community groups, co-operatives, or DAOs. In short, people can save, insure, issue credit without reliance on banks or financial institutions. Along with these features, the users get de-facto transparency and fairer funds distribution facilitated by the technology.What are we currently doing on Polkadot?Our activities:Launching the Akropolis parachain.Running a Validator Node on Alexander testnet.The team is currently researching application of zk-znarks and LayerX to ensure privacy of financial transactions within the parachain.We are actively participating in Polkadot ecosystem — you can check one of our proposals — Polkahub, a platform for easy node deployment.What is our product composed of?The architecture of our protocol, as a TCP/IP construction, is structured in several layers, each of which is responsible for a separate function. You can find more about each module on our wiki.Currently, our payment processing kernel (C2FC) is deployed on our parachain on Substrate.What is C2FC?Any financial transaction can be abstracted as an exchange of cashflows. This is why we created a financial primitive called “Commitments to Future Cashflows” or “C2FC” that reduces the complexity of the protocol design by encapsulating in a single token smart contracta seamless transfer, exchange, batching or trading of cashflowsan ability to be linked to and emitted by any economic agentC2FC processes subscriptions to and redemptions of capital while maintaining an immutable trail of payments. This cashflow-based approach allows to build core financial products with near-infinite variability:Investment products (saving accounts, pension accounts)Credit products (revenue-collateralized / income-collateralized loans)Social credit / group savings / social or mutual insuranceThe first implementation of C2FC on Ethereum as cashflowrelay won the 2nd prize at a global 0x+Coinlist hackathon.Below is a description of our Polkadot implementation.Why Polkadot?Polkadot is often described as “internet of blockchains” and can be presented as an airport with parachains aka gates. Gates are interconnected between each other so this airport hub creates connectivity between different destinations:This clear analogy can be applied to blockchains, interconnected by Polkadot. The novel crypto-financial primitive C2FC that was recently developed will provide a powerful financial tool for all “airlines,” renting gates. We can imagine it as something like“inter-airline ticket purchase and exchange system”. This means that all Dapps and networks, based on blockchains, interconnected via Polkadot can use C2FC to create, account, transfer and aggregate debts. This amplifies Polkadot’s network effect and simplifies the creation of financial applications (the majority of known finance products are related somehow to debts — which can be created using C2FC framework). Additionally, this interoperable tool, built on Polkadot makes a contribution to the overall value of Polkadot ecosystem. As a consequence, the value captured by DOT tokens will become greater.We believe the future will contain multiple domain-specific blockchains. Our product vision assumes a blockchain-agnostic ruleset, able to interact with any cryptoasset running on any blockchain. Interoperability becomes important for the medium-term product vision. With this in mind, Akropolis has turned towards exploring Polkadot and its ecosystem.Cross-chain functionality afforded by Polkadot will be able to offer ecosystem-wide access, exchange and trading of cashflow-based products and services on our parachain. By way of illustration, let’s consider two simple scenarios below:Illustrative Scenario A: Societe Generale has issued a EUR100 million covered bond on a public Ethereum blockchain. A Chinese conglomerate issued a RMB250 million sovereign bond on NEO. As an asset manager / treasurer of a mutual/DAO, you will be able to manage a portfolio of assets from multiple chains. Bond’s coupon payments are routed through a set of Polkadot bridges to mutual/DAO, governed on Polkadot.Illustrative Scenario B: Clearbanc has an existing validated business model which in due course can be ported on-chain. Imagine that different businesses are built on different open-source protocols: DEXes, Ad Networks, Data Marketplaces. C2FC provides the opportunity to finance such businesses without selling a share. The implementation of C2FC on Polkadot provides shared liquidity for fundraising as well as 0x — shared liquidity for exchanges.Polkadot ImplementationAkropolis chain consists of several services, including:Registrar: This public-facing service contains all the business logic and external functions associated with creating, issuing and redeeming C2FC. The Registrar orchestrates interactions between other services. The Registrar stores all issued C2FCs.Factory: This service contains the template for a specific type of C2FC and facilitates the creation of all C2FC tokens. Creators can mint C2FC tokens by calling the Registrar’s create function and supplying the Factory address and required parameters.C2FC Token: This token represents a unique Commitment to future cashflows. Each C2FC token is created by a Factory and is tracked by the Registrar. The C2FC token keeps track of all transactions under commitments.The flow is formalized as follows:Issuer sends command to Registrar to issue new C2FC token.Registrar passes arguments to Factory to issue new token.Factory deploys new C2FC token with provided parameters.Factory returns to Registrar the new C2FC id.Registrar records C2FC id in it’s mapping of all tracked C2FCs.Registrar returns to issuer id of new C2FC token.Akropolis parachain on Substrate is launched, you can check it at Polkadot telemetry. C2FC creation is in beta mode at the moment. You can check the code for C2FC chain here.Challenges & SolutionsOne of the main problems we encountered when designing the AkropolisChain is the lack of testing tools that allowed both dapp/chain integration and unit tests. It would be great to have tools like Truffle or Ganache for efficient development flow. Thanks to Web3 Foundation, which already are working on it: W3F recently allocated a grant for the ChainHammer project, for benchmarking and performance testing. We are very pleased to look how quickly and actively the ecosystem of Polkadot is developing and how quickly new missing elements of the ecosystem appear. Our team is also actively involved in the development of the ecosystem. Here is our proposal — develop PolkaHub: PaaS with one-click services for deploying and running different parachain nodes. Other suggestions are:1. Develop tools for unit and integration testing dApps built on Polkadot/Substrate.2. Develop tools for measuring dapp/chain performance. Looking forward to MixBytes Tank.Akropolis Next StepsAdd staking functionality (collateral), once C2FC is settled, the staked tokens are released (this helps build skin-in-the-game).Become an active contributor to the Polkadot core tech: the Polkadot ecosystem is at a very early stage, needing basic tools and infrastructure apps: Infura analogs, browser, and mobile wallets, testing tools.We firmly believe that building more tools for Polkadot will subsequently bring in more developers. This will result in more products built, enabling other developers to be onboarded to the Polkadot ecosystem.We are committed to continuing the research and development in Polkadot and look forward to generating wider accessibility for new developers, and ecosystem expansion. We hope you enjoyed the first part of our series “Akropolis in Polkadot” — stay tuned for more!Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialDo you have any questions? Please ask by email! team@akropolis.ioBuilding Akropolis on Polkadot — Pt. I was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 04

Akropolis To Launch On Huob...

Jul 16 20:00 (GMT+8)Dear Akropolis Community,We are pleased to announce that Akropolis token AKT will be launched on Huobi Global, a leading digital assets exchange, through Huobi Prime, Huobi’s pioneering launch platform for emerging premium coins, on July 16, 2019 at 20:00 (GMT+8).We’re looking forward to your participation! Just sign up at https://www.hbg.com (Only use this link! Beware of scam sites). Our community team is available on Telegram to answer any questions. More information will be shared shortly.Make sure you check the telegram handles of the people helping you. Only @sidzuka, @tomboytrader and @victordymov will be assisting you — any other person claiming to be part of the Akropolis team might not be legitimate. Stay safe!Pre-Sale Contributors: Important NoticeHuobi Global and Akropolis have been working around the clock on our token metrics that at the same time, are in accordance with the best interest of the previously distributed (locked) token holders.To achieve this, we will be conducting 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. More details on this to follow shortly.We have already started contacting our Early Contribution Agreement holders to provide them with further information.We will be publishing a user-friendly step-by-step token swap guide before the Huobi Prime Launch.If you have any questions regarding the token swap don’t hesitate to contact @tomboytrader or @Sidzuka via Telegram.Once again — stay safe. Always make sure you’re talking to real Akropolis representatives.Thank you for your support! Onward!Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialDo you have any questions? Please ask by email! team@akropolis.ioLearn more about Huobi Global:Website: https://www.hbg.comTwitter : https://twitter.com/HuobiGlobalTelegram (English): https://t.me/huobiglobalofficialAkropolis To Launch On Huobi Prime was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 02

Akropolis launches the firs...

The first step towards financial freedom: Akropolis launches the first Testnet AFO Governance ModuleOur team is pleased to announce the launch of the Testnet AFO Governance Module, allowing, from now on, all Akropolis users to create community-owned organization, where in the future — when we are fully operational in Mainnet — they will be able to save, transact, borrow, lend, and interact with various DeFi protocols — finally taking back the control of their own finances.An AFO (Autonomous Financial Organization) is a DAO, which is created for its members to achieve their goals, and expand their possibilities in terms of finances.IMPORTANT: This is a Testnet version. This means that none of the ETH/Tokens used can be exchanged for real assets — additionally, please NEVER send/transact with real ETH or any other ERC-20. Akropolis is being tested on the Rinkeby Ethereum Testnet and we still need to work a lot towards mainnet, where you will indeed be able to invest real assets.Below, you will find descriptions and guides for creating your test organization and the functionalities you will be able to test in this AFO module. In the future, you will be able to use all of this with real digital assets — but first make sure to familiarize yourself with the platform, so when it’s ready to launch, you will be an Akropolis AFO expert.Easy to operateSimple: the only requirement needed to set up your AFO is an Ethereum wallet that supports testnets — for the time being, Metamask — and later invite those people you decide to cooperate with.Transparency and security: all withdrawals, investment decisions, and other financial operations need to be approved by the majority of the AFO members.Fair application process: the decision to add new members to a organization is made by voting.Any member can create a vote -whether it’s for accepting new members, withdraw funds, or any decision you deem relevant. Users can speak their minds freely and submit their ideas to the AFO.Creating an AFONOTE: please make sure always to have Metamask enabled for the Rinkeby Test Network!Creating an AFO in the Akropolis Protocol is simple and easy-:Set up your Metamask Ethereum wallet.Select “Rinkeby Test Network” from the top menu with the networks (yellow dot indicates Rinkeby).Request funds to the Rinkeby Faucet, follow their steps.Request Test DAI tokens — please fill up this form, we will be sending test DAI on a daily basis.Check the funds are in your Rinkeby Wallet.Think which name suits your organization, and set the financial goals.After that, you only will need to sign a couple of test transactions, and in some minutes, voilá! Your organization will have been created, and you will already be able to put it to test.Fund managementAn Akropolis AFO is your opportunity to achieve financial goals together with your peers. After depositing funds individually, for instance, you can send the now joint funds to Compound and accumulate passive income by becoming borrowers (currently the interest is around 8%).Please note you will also be using Compound Testnet, which also uses test DAI only — do not try to send real DAI to Compound Testnet.In addition, any member of the organization can get access to social credit / social insurance: all that is needed is to make contributions on time and after the test period you will be able to get a loan / insurance from members of the AFO. You can also test this feature now.In short, the Akropolis Protocol enables the creation of a distributed financial network comprising member-owned financial organizations designed to step in to provide the trifecta of basic financial services (savings, investments, social insurance) through a distributed network without reliance on governments, banks or other legacy financial institutions.What‘s next?Currently we are building on top of the Ethereum blockchain as a test platform on which we can demonstrate the capabilities, features and potential of the Akropolis Protocol, as well as assessing benefits, challenges and other verticals that might arise from this first testing stage.On the other side of the spectrum, a further focus of our development team is the Akropolis Chain. Implementing our protocol as a parachain on Polkadot will allow us to open access to our users not only to investment, savings, loan tools on Ethereum but also to the whole Web3 ecosystem. The Akropolis chain, interconnected by the Polkadot protocol, will also be able to interoperate with other blockchains seamlessly and solve scalability issues, improving, for instance, the high costs of onchain voting that the current DAOs suffer from.We are looking forward to our community joining us — thank you, as always, for the support.Your feedback is key, please join us.Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialDo you have any questions? Please ask by email! team@akropolis.ioAkropolis launches the first Testnet AFO Governance Module was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 07. 01

Akropolis and ChainX partne...

Akropolis and ChainX partnership: decentralized finance and cross-chain interoperability for the Web3 ecosystemAkropolis and ChainX’s histories have many common threads. Both teams have led a similar path, contributing and following Web3 Foundation and most specifically, the Polkadot protocol since the early days before the first token sale. The Akropolis team has additionally been, to date, dedicating over 600 man-hours of R&D and development effort since January 2019.Both teams’ work falls within the Decentralized Finance (DeFi) sphere. DeFi is known for enabling interoperable financial primitives and trust-minimizing frameworks enabling novel financial instruments, new forms of disintermediation and substantial cost reduction compared to legacy finance.The partnership between ChainX and Akropolis is meant to advance the asset management / Decentralized Finance vertical within the Polkadot ecosystem. As Substrate evolves, the two teams will cooperate to support the efforts of both Parity, Polkadot and other parties involved in the Web3 ecosystem.As the Polkadot parachain architecture becomes more mature, ChainX’s DEX will be connected to the Polkadot relay chain, therefore connecting to all parachains. Akropolis plans to use ChainX to exchange value. Decentralized trading and other financial operations are core to the functioning of the Akropolis Protocol — and ChainX is the perfect match within the Polkadot protocol.“Akropolis believes that ChainX’s consistent and top quality work on Polkadot will be essential for the ecosystem forming around the protocol. This team has been a contributor from Day 1 and we are extremely glad to partner with them. To start supporting ChainX, we are running a validator node in their parachain. Together with ChainX we will cooperate in research with regards to staking, governance and Akropolis’ project to support the Polkadot vision, Polkahub” — Alex Maz, CTO, AkropolisChainX and Akropolis are also committed towards the improvement of developer experience and adoption growth. For this means, Polkahub will be a key focus: this is a Platform-as-a-Service (PaaS) for Substrate Nodes similar to Heroku . Polkahub’s goal is to create a managed container system — where developers will be able to deploy and run different parachains in “one click” and without relying on DevOps. Polkahub enables the automation of updates, resource management, and other features needed to run nodes. Furthermore, it offers a set of templates for easy parachain launching.We hope that through the combined efforts of Akropolis and ChainX, developer adoption in the Polkadot ecosystem will be able to grow faster and without unnecessary overhead for the newcomers, while leveraging the features that both the Akropolis and ChainX parachains will provide.About Akropolis: Half of all the assets in the world are owned by pension funds. The global pensions deficit currently standing at 3x global GDP or $47 trillion. Akropolis set out with the objective to build a protocol that enables creation of a distributed financial network comprising member-owned financial organizations designed to step in to provide the trifecta of basic financial services (savings, investments, social insurance) through a distributed network without reliance on governments, banks or other legacy financial institutions. Result: resilience to global contagion risks in the event of a financial crisis. More info here.About ChainX: ChainX is an inter-chain crypto-asset financial blockchain in Web3-Polkadot ecology. ChainX has completed the development of light-client BTC bridge and a fully on-chain DEX. ChainX had launched at May 2019 as the first released Polkadot eco-chain based on Substrate. ChainX will continue to relay Ethereum and other POS chains. Learn more here.Akropolis and ChainX partnership was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 06. 20

Akropolis Quest — Registrat...

Quest — Registrations Are OpenDear Akropolis community,As was announced last week, we will be starting a new Community Quest soon! Today we bring news including dates, registration, testing, and community initiatives — all (or almost all 👀) will be revealed in this post, so read on further.Navigating the Quest: what’s it about?What do you know about DeFi? And about DAOs? We put together a handful of topics to help you understand Akropolis and the crypto space in general. Would you like to show your friends that you are a seasoned veteran of the cryptoverse? Then join us!You already know the drill if you’ve participated before in our community activities, but for all the newcomers — here is a small tl;dr :You will need to complete 4 tasks to win the round. First, you must share your opinion on the given theme, then there’s a quiz, after which you must solve a puzzle, and to close it off there’s a brain-crashing word hunt! You think it’s easy? Think again!You have three hours to complete the first task. Take your time to think about your answer as much as you want. But, starting from the second task, you’re competing not only in knowledge but also in speed with other quest participants — so get those fingers ready!The total prize pool for this quest stands at $100,000 — here are more details!The quest will reward the top 40 winners daily, with up to 9,000$ of prizes allocated for each round. A point-based system which we’re introducing for this quest will also dish out additional rewards for the winners of flash quizzes, word hunts and more.For those who want to show their creativity or just generally are better with creating memes and spreading the word, we have additional prizes that are sure to tickle your fancy — check the wiki page for more details on that!https://medium.com/media/dec50b1dbd692176a82653af37568ce6/hrefSo.. when should we be ready to deep dive into the Quest?The journey begins on June 15th, get ready to take part in one of the most awaited community experiences in the cryptosphere.Registrations are open! Join in now and show us what you’ve got!*unfortunately, people from certain countries like US are not eligible to participate. To see the full list of the prohibited countries please check our T&C.Akropolis Quest — Registrations Are Open was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 06. 08

Explaining Akropolis v0.2

https://medium.com/media/fd79cf06b9516552c04de7018a32c64d/hrefThis post provides a detailed description of the product that the Akropolis team is currently working on now. Akropolis Network is a digital creation and management service for private savings funds. It aims to connect informal savings mechanisms, which operate in all developing countries for centuries, with DeFi and Web3 Technologies.Imagine a world where people would be able to financially operate and cooperate in a secure and trustless way: Akropolis enables people to kickstart and run their own Autonomous Financial Organizations (AFOs). With AFOs, they can request internal loans, or external ones from credit institutions, other AFOs, or new financial operatives. Whether the user is an already established, up and running cooperative; an informal savings group with a common goal, or an individual seeking financial assistance for a particular objective, Akropolis makes it possible for individuals to connect with each other and to regain control of their finances. On the Akropolis network, members can create or join small circles of trust that open up possibilities for global financial cooperation thanks to blockchain technologies.One of them is Walter Kim. Walter is a freelance architect, father of two, with an established career and growing social circle. In the last couple of months, however, he was facing certain issues with his employer — a construction company — resulting in a delay of his payments. Although he always has a “safety cushion” of funds for emergencies, his bank account was draining slowly from day-to-day expenses to support his young family.As a parent, Walter wants the best education possible for his children, and he thinks this should start as early as possible. Therefore, he had decided to enroll his two children in a bilingual private school — as the local public schools don’t offer the possibility to learn foreign languages at early ages.When soliciting credit from banks and traditional credit providers, these rejected his requests for the loan for different reasons — no stable income, no stable employer, or they simply thought that kids education is not important enough or can’t provide a “return on investment”. He tried to tell them that he is awaiting a big paycheck from his current employer in no later than three months’ time, but this was too risky for the institutions to accept and proceed with the loan. As school enrollment deadlines could not be moved, and the tuition payment period was due in a month — Walter needed to think of new options.He recalled hearing from a colleague about informal savings groups that can help their members get loans, insurance, and investments, facilitated by the Akropolis mobile platform. Walter decided to ask for an introduction and try his luck in receiving a loan through this option.After a quick introduction from his colleague who was already part of the savings group, he got admitted into it.After a going through a few, simple steps to set up his account, Walter opened a tab to check all the most important information about the cooperative he wanted to join — how many people there are and their financial goals — the core information. While going through it, he noticed that in order to receive a loan, he would need to make regular contributions throughout the month to prove his reliability. What an incredible new possibility! Much simpler than trying to negotiate with different banks. He checked the system features and found a fast fiat-on-off-ramp, Wyre, to make his contributions to the group.On a weekly schedule, Walter started making contributions of 50$, and after a month, he saw that was finally able to request a loan from the savings group.After creating a request, the members of the co-op checked what Walter wanted to use the funds for. They also reviewed his commitment to the community based on regular contributions. To Walter’s relief, the majority voted “yes” for him. When the voting period ended, Walter received a notification that funds were transferred to his account.And that’s the story of one architect that was able to pay for his kids’ education via a reliable novel way of interacting with like-minded individuals.Does this story resonate on you? Have you ever been rejected by a bank or any other traditional institution when you asked for a loan, wanted to invest in something or simply wanted to get access to insurance? Share it with us — and we’ll be happy to help you build an organization that can achieve your goals, and much more.What’s next?The Akropolis Protocol aims to be a full-fledged alternative for the traditional financial system. The vision is to offer much more than taking out loans. Our further work is focused on the following areas:— A wide range of earnings opportunities opening up through the integration with DeFi — decentralized finance — services:Investments in crypto-asset portfolios (Set, Melonport);Investments in traditional financial assets (like tokenized S&P500 index, implemented by Uma protocol);Crypto lending (Compound, Dharma);Crypto liquidity provision for bZx Protocol, dYdX;— The possibility to create legal entities (via Akropolis’ integration with Consensys’ OpenLaw);— The possibility to create an interoperable network between AFOs and external third parties, where value (e.g. co-investments, loans, trade) can be exchanged freely in a fast, secure and transparent trust-minimized way.The work on the implementation of these added functionalities is underway and progressing fast — we will keep you informed about our updates.Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialExplaining Akropolis v0.2 was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 06. 06

Akropolis Community Update

Dear Akropolis community,Today, we want to share some of our plans for the Summer!Akropolis Quest 3We hope you are well-prepared and eager to start this new community journey: we’re announcing a new iteration of the Akropolis Quest!Are you up for challenging your knowledge of the Finance, DeFi, DAOs, and Blockchain space? Would you like to show your friends that you indeed practice what you preach when you say “I’m in it for the tech”? Then this brainy adventure is for you.The Quest will take you through various tasks, quizzes and riddles to find hidden words over the course of 6 rounds, while in between we will have flash challenges and content competitions with total prize pool up to 100,000$ worth of rewards. For this quest, we will be introducing a point-based system that is meant to prize the most acute minds of all and where every action will be counted.The journey will begin in June, get ready to take part in one of the most awaited community experiences in the cryptosphere. We will be sharing more info about the quest process and prizes in the following weeks!Token unlock and distributionWe are working on it. Please know that this is one of our top priorities. Final dates will be announced during the quest, as well as exciting announcements on technical progress, biz-dev, and marketing news.Please stay tuned and patient — we are aware we are slightly delayed but it’s because we are making sure to look after the interests of our community as a whole.With regards to the participants of previous quests — rewards will be distributed at the same time as the rewards from this upcoming one. Same goes to our ambassador campaign participants :)Community building and marketingAs we are moving closer to our MVP release, we will be gearing up our marketing with a focus on Asia — Korea, China, and Vietnam. Our co-founder, Kate Kurbanova, is now in Korea with our Asian marketing and product partners working to build a stronger local community and strengthen relations in the region. Write to us via team@akropolis.io or in Telegram if you want to arrange a meeting with her.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}Korea is so crypto native — @tomboytraderfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Ana is in another part of the globe now — she is Toronto, preparing to speak and judge CryptoChicks hackathon alongside Vitalik Buterin, Vlad Zamfir, Ryan Zurrer from #Web3Foundation, Ben Goertzel from Singularity & more!body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}Ana Andrianova of @akropolisio will take to the stage at the #CryptoChicks Toronto Hackathon + Conference May 31 - June 02 to discuss the Real-world applications: lessons for DAO design and governance from co-operatives and mutuals. You won't want to miss this! #CCHack2019 — @crypto_chicksfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}We will also share some sneak peeks from our development process in the coming days — stay tuned!Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialAkropolis Community Update was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 05. 31

Akropolis Development Update

We are happy to share with you our latest Development Update, and our plans for the future.TL;DR: Having delved into R&D with institutions and pension fund professionals, we returned full circle to the organization types that have been used for centuries: informal financial organizations, such as chamas, co-ops, and others. Read more in our recent post.Based on our market and user research, we came to the conclusion that there was an existing use-case we could tap into, and on-board into DeFi with the right tools. So we set out to build a new financial infrastructure resistant to the future global financial crisis.We migrated the development work to a modular approach, in order to be able to incorporate new nascent Web3 technologies without unnecessary development overhead. This approach dramatically optimizes and streamlines the development of new components and adapt them into the existing modules. Below you will be able to find updates on the modules we are currently focused on.The Akropolis Network development is on track and has been going on in accordance to the roadmap specified in the new Whitepaper.Our updates, classified by product development areas:1. Creation of the backbone for financial transactionsThe C2FC financial primitive was designed and implemented on our platform CashflowRelay for exchanging/selling financial obligations. Currently, financial commitments are created and administered by individuals. In the next iteration of our development, we will be adding the ability to operate C2FC by DAOs or organizations. The initial platform was released in February 2019, according to our roadmap.2. Development of a module for creating and operating on-chain co-operatives/DAOsDevelopment is carried out according to the roadmap, we are on track to make a co-op Governance Module demo around June 2019. The initial design will allow you to create a cooperative to achieve joint financial goals, contribute funds, make decisions about joint investments by voting. Here is a sneak peek into it:Users can set joint financial goals and monitor their achievements on the co-op pageWithdrawals from the cooperative is carried out after a majority of its members vote for it3. TokenomicsAs of today, we implemented staking in CashflowRelay which is used for the C2FC creation. However, we believe this model can be improved in the next product iteration. We are introducing a more advanced model based on the adaptation of the learnings from the Livepeer and MakerDAO tokenomics for our product, in our whitepaper. At the moment, we’re at the final stage of the R&D phase on the token model creation.During the protocol design and development, as mentioned, we adopted a modular approach towards our development and singled out several independent modules that collectively make up our product:The CashflowRelay module has been implemented for exchanging/selling financial obligations. Financial commitments are created and administered by individuals — owners of ETH wallets. It’s worth noting that the owner of the wallet can be not only an individual but also an organization. All decisions in such organization are made off-chain.We are working on the co-op governance module — a module for creating and operating financial cooperatives on-chain. We aim to complete the first version of the module by the end of June 2019.This module will allow organizations to make decisions and conduct their activities on-chain. In the future, cooperatives will be able to raise funds/invest their own funds through CashflowRelay.In the process of implementing this module, we studied the existing DAO platforms: Aragon, DAOStack, Colony.We are using AragonOS as a platform to implement the MVP of our protocol — as it provides a large set of tools for creating and administering DAOs.Right now, one of the limitations of the current state of Aragon is the lack of a single entry point for managing membership in all organizations. To eliminate this drawback, we have developed a primitive version of the identity module for users and organizations— you can check it out here.4. Tech designLast, but not least:We created the Akropolis wiki 👉 https://wiki.akropolis.io/, your one-stop shop for all things relevant to our project.The new Whitepaper is published — find more information about incentives, modular approach, users, and more here 👉https://wiki.akropolis.io/whitepaper/.We have developed a new tokenomics model to encourage AFO to actively interact with each other. The model is based on the adaptation of the Livepeer and MakerDAO tokenomics and is described in detail here 👉https://wiki.akropolis.io/tokenomics/.The Road Ahead:Currently, Akropolis MVP is under ongoing development with the co-op Governance module for creating and operating on-chain co-operatives/DAOs. This is set to be presented by the end of June 2019, we look forward to our users testing and experiencing true financial freedom.Moreover, we are cognizant and moving towards scaling the protocol to accomplish our goal to contribute to the construction of a crisis-resistant financial service. Scalability is key to achieve this.Therefore, we are working on the Polkadot implementation of the protocol.In order to enable the creation and life-cycle management of cashflow-based financial products and solutions that can be used by other blockchains connected to the Polkadot network, Akropolis has already launched a parachain on Polkadot and will be expanding its implementation over the course of our roadmap. More to come on this front soon.Thank you for your support — we could not have done this without our community.Disclaimer: All images and numbers represented in this document are for illustration purpose only. Actual product may vary due to product enhancement and ongoing development.Learn more about Akropolis:Website: https://akropolis.io/Twitter: https://twitter.com/akropolisioTelegram: https://t.me/akropolis_officialAkropolis Development Update was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 05. 21

Empowering Informal Economi...

In a novel industry like blockchain, user experience (UX) plays a big role — we are building tools and protocols from scratch, and people need to be onboarded correctly and easily in order to adopt them. Even the best ideas and technologies can be limited by their usability. A clunky, unintuitive UX will frustrate users and limit their understanding and willingness to use a product.The Web3 ecosystem has many UX challenges to address in order to be fully functional. For instance: public and private key management and associated risks, understanding what is gas and how to set it up, etc. It is our responsibility to alleviate such issues, and bring new users into the ecosystem.Akropolis protocol is a layer-2 solution, designed to be implemented on any Turing-complete blockchain. The objective of the protocol is to enable an alternative financial infrastructure to creation, manage, and connect bank-independent member-owned financial organizations (co-ops, mutuals, etc).Akropolis announces their partnership with POA Network, towards better UX standards for end-user adoption. POA Network has been developing products with the end user in mind, including an open source explorer, BlockScout, POA Core, and xDai Chain.The xDai Chain is an Ethereum-based blockchain, created by POA Network in partnership with MakerDAO, that uses USD-stable xDai (a representation of Dai token) as the native coin of the network and leverages Proof of Autonomy consensus model, in which the validator set is managed by a decentralized autonomous organization (DAO).Akropolis on xDai ChainUsing xDai will allow us to build time- and cost-effective solutions using both traditional currencies and stablecoins, reducing cryptocurrency volatility risk and UX friction.xDai block time of 5s offers quick finality. Its constant gas price is fixed at 1Gwei and is payable with xDAI stablecoin. These two factors are key to paving an easier path to adoption through superior UX.About the Akropolis NetworkAkropolis is a domain-specific financial protocol dedicated to the needs of the informal economy. It is designed to:enable anybody regardless of their geographical location to quickly set up, operate and grow informal autonomous financial organisations (AFOs), e.g. digital co-ops, guilds, mutualsenable an interoperable scalable network between them and external third parties, whereby value can be exchanged freely in a trust-minimised way (e.g. co-invest, lend/borrow, trade).reduce instances of fraud and misuse of fundsAbout POA NetworkPOA products are for people who believe that the Ethereum protocol must be cheap, fast, and scalable. We are focusing on bringing the best developer experience for blockchain professionals. We promise that engaging with POA will help you create a first-class application on the platform.Website: https://poa.network/Twitter: https://twitter.com/poanetworkMedium: https://medium.com/poa-networkForum: https://forum.poa.network/Reddit: https://reddit.com/r/poaEmpowering Informal Economies via DeFi: POA Network and Akropolis announce their partnership was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 04. 25

Akropolis Q1 Update

From An Institutional Approach to Finding Insights in Informal Networks1-Minute SummaryAs a project, our mission is to give people the tools to save, grow and provision for the future safely and without dependence on a geography, a central counterparty, or falling prey to predatorial financial practices of multiple intermediaries.What we set out to build is not about social impact or “banking the unbanked”. It is not about technology per se, though it plays an important part. It is about how we see meta-trends affecting our lives, lives of our (future) children and peers regardless of geography. There are multiple attack vectors to focus on. We chose financial security, due to our asset management expertise, institutional pension fund experience and innate empathy to the scenarios when a nation-state purposefully fails its most vulnerable citizens.We believe that on a sub-10-year timeframe, many a state pension and social security plans will face bankruptcy. Western consumers by and large won’t be prepared, accustomed to the dependency on the nation-state and its institutions. Technology on its own is not and will not be the answer.We see an incredible amount of promise in enabling a mesh network of digital equivalents of informal savings circles, socio-economic archetypes used by millions of people for centuries and therefore by far the most robust socio-economic primitive in human history. We carefully take those centuries-old constructs and make them scaleable, fraud-proof, and geographically agnostic using the blockchain technology. Our product therefore is a protocol that enables creation of scalable robust decentralised p2p alternatives to pension/social security funds.Our VisionThe Akropolis project was conceived from a thesis that the global economy is on the verge of a long overdue global financial crisis with global pensions deficit crisis (meaning total outstanding pensions liabilities to people, incl all asset classes) currently stands at $78 trillion and is expected to reach 4x global GBP by 2050 [1]. A 7.0–8.0% return assumed in actuarial models of Western pension funds is long a subject of fiction due to multiple injections of liquidity into the monetary system through quantitative easing. “At some point, the bubble will pop”, indeed.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}Americans now have more than $4 trillion of collective debt for the first time in history. $4,000,000,000,000 At some point, the bubble will pop.... — @APomplianofunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Ask yourself a question: how did people use to save and prepare for the future before there banks, insurance companies, etc? Informal savings communities or circles of trust is the centuries-proven solution, that still forms a dominant part of the emerging markets economies, contributing to substantial share of the GDP in countries across Africa and South-East Asia.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}You probably have only a small group of people you know well enough to trust. Outside of this small group, it's more scalable to trust people's incentives than the people themselves Systems that align incentives are systems that scale trust — @RyanSAdamsfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}However, trust-based communities have a natural cap, not unlike a Dunbar number, and therefore they cannot easily scale. We address that, along with the two main daily pain-points of our target audience: accounting fraud and misappropriation of funds. More on this in our next update.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}There isn't going to be "the next big social network" The next big social network is the 1000 social networks built with purpose for a specific community, with a specific purpose Facebook, LinkedIn etc are being splintered — @gregisenbergfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Our Place in The DeFi EcosystemDeFi is by far the most promising area of blockchain application, with a number of high-quality interoperable projects promising the future of transparent, fully auditable, efficient peer-to-peer interactions, based both on existing financial primitives and creating novel ways to generate and exchange value.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}Transparency is one #DeFi's most radical improvements over the traditional financial system. To put our money where our mouth is, we're open sourcing Dharma's growth numbers. Think of this as 'ETH Locked in Dharma' h/t @mikeraymcdonald https://t.co/wZl78OnfZG — @DharmaProtocolfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Yet due to the nascent nature of the ecosystem, DeFi is still very much looking for its product-market fit beyond the immediate community of developers and sophisticated speculators. In our research, we turned to the good old “painkiller vs vitamin” metaphore and over a number of months researched and identified a product-market fit, that, in Kayvon’s words “speak to a mass audience” and address a basic need in financial terms and a real pain point: (in)ability to save and grow one’s savings safely and effectively.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}The blockchain space is filled with backend engineers tweaking what's already a proven technology. None of this will move the needle. What will? Building experiences that speak to a mass audience. We want billions of users. Not a few hundred ETH heads debating governance. — @saturnialfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Mass adoption of the technology will not happen until it is unnoticeable, abstracted away as a part of the solution addressing people’s essential needs. Majority of the population do not care about or have the knowledge to trade, take a synthetic position on an Apple stock or engage in the mental acrobatics of margin trading. Let’s get to the basis of the Maslow’s pyramid and adapt it for the DeFi ecosystem. What “billions of users” care about is to be able to:Earn: preserving ability to earn a living (attack vectors: inflation in all its guises)Save: being able to save safely (attack vectors: inflation in all its guises, reliance on centralised financial institutions as custodians, liquidity controls, hidden or poorly understood fees in financial products & services, etc.)Grow: being able to grow their savings safely and reliably plan for future uncertainty (attack vectors: psychological difficulty of saving alone, difficulty growing wealth as a group sustainably and safely; when co-investing in groups).Without imposing new behavioural patterns on users who have already been operating like this for years, we carefully recreate these centuries-old constructs as digitally-enabled DAOs, make them scaleable, fraud-proof, and geography-agnostic using the blockchain technology.Finding a Product-Market Fit [PMF]The search for the elusive product-market fit starts with an understanding what it stands for and when it doesn’t exist, despite our best intentions (“confirmation bias is strong with this one”). Marc Andreesen of a16z loosely defines product-market fit as:You can always feel when product/market fit is not happening. The customers aren’t quite getting value out of the product, word of mouth isn’t spreading, usage isn’t growing that fast, press reviews are kind of ‘blah,’ the sales cycle takes too long, and lots of deals never close (Marc Andreesen, [2])So we did a bit of reading, and a lot of face-to-face customer research to understand the secret of longevity behind informal savings groups.Our internal research databaseFor centuries, well before the industrial and early financial revolution, and before any concept of government provision for its subjects, trust-based communities were the only source of security, whereby economic transactions were rooted in trust and social reputation. In the West, they evolved into co-ops and then mutuals and banks. In many an emerging market they still form an essential backbone of what is known as “informal economy”. Its main unit is a savings group, which is a member-owned institution, typically <20 members who save together and take small loans from the common savings pool. The names for the savings group phenomenon vary by country: it’s chamas in Kenya, ekub in Ethiopia, susu in West Africa and the Carribean, stokvel in South Africa, paluwagan in Philippines, pandeiros in Brazil.Geographic and cultural differences notwithstanding, these socio-economic archetypes have proven to be remarkably robust. They all have a common goal: to create an alternative financial structure where they can save, invest and lend together, as well as borrow money they need without long procedures, official documents for loan applications, and oftentimes without using a bank. This day, they remain a competitively-priced source of credit. As member-owned organisations, there is no external cost of capital return to factor into the economics — all the capital is internal and can be sourced through the network.Our analysis turned to one of the most interesting fintech markets in Africa: Kenya. What we saw was that clearly articulated goals and mutual member support are major contributing factor to co-op growth from 10 members to 25,000+ members and multi-million-dollar treasuries accumulated by its member base. Indeed, most successful chamas have grown from 10-person village groups into banks or mutuals that uncannily remind DAOs.When you superimpose that on a 91% mobile penetration rate, high mobile money adoption rate, young population with the average age of 20, and existing centuries-old behavioural patterns that belie savings circles with relatively weak legacy financial infrastructure, you get a fascinating market that in respect of familiarity with digital financial infrastructure is more advanced than what we have in the US and Europe.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}@lrettig @davecraige we got used to that in kenya for the past 10 years via Mpesa — @Nextstevejobfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Other surprising factoid include 300,000+ registered chamas in the country controlling more than US$3.5 billion worth of assets [3] and ca.1,000,000 unregistered chamas. According to the World Bank, remittances to Sub-Saharan Africa reached US$38 billion in 2017 [4], of which a large part is formed by diaspora remittances. Continent-wide AuM estimates for informal savings circles vary from $90 to $100 billion worth of assets.Our market analysis, fintech/web3.0 opportunities review and PMF process and how we are thinking about building a consumer-facing product on top of a protocol will be covered in our later updates.Progress to DateCore protocol logic defined, portable across a number of blockchainsWe researched Polkadot/Substrate for the purposes of our build. Akropolis node on Substrate launched by Alex Koz, our blockchain R&D specialist:A core financial primitive “Commitments to Future Cashflows” designed by Ana, shaped and put into code by our hero CTO Alex Maz and Product Manager Ilgiz, has been shipped to the Ethereum mainnet whilst on the train on the way to M-1 in Zug. The whole team worked exceptionally hard to deliver not only our financial primitive but the dApp, CashflowRelay, built with 0x+MakerDAO. Alex, Ilgiz, Eugene, Dima, Misha and Dima — thank you!💪 The work has been awarded a second place at the 0x+Coinlist hackathon out of ca.700 submissions:Our friends at Zerion took the first place. We are not even bitter. Honest!body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}Cashflow Relay lets you represent and trade future cashflows. This concept is core to a vast number of financial transactions in the traditional world. It opens up massive opportunities in the token world. https://t.co/CIZUjeXPaT — @andy_brombergfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Product-Market Fit [PMF] identified and validated through 250+ hours of deep customer research advised by leading fintech EM product specialists from a $800mm NASDAQ-listed company. This produced valuable insights in other exciting areas, e.g. practical DAO governance, which we presented to a full audience at Full Node in Berlin tonight.body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}We are super amped for the next Ethereum meetup on DAOs, at Full Node, 14.3. 🌱 Presentations from @stellarmagnet of @autarklabs, @nat_scherer of @daostack, @ana_andrianova of @akropolisio, @tim_bansemer, and Gnosis Product Manager @c3rnst on the #dxDAO. https://t.co/M0cKcCAFr5 — @gnosisPMfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}body[data-twttr-rendered="true"] {background-color: transparent;}.twitter-tweet {margin: auto !important;}So proud of our @ethereum meetup! People from different backgrounds, new faces, fascinating content, a full house and yes - everyone stayed till the end! Kudos to @ana_andrianova @Nat_Scherer @c3rnst @stellarmagnet @tim_bansemer @maurreth and the @ETHBerlin @fullnode_berlin crew — @MPtherealMVPfunction notifyResize(height) {height = height ? height : document.documentElement.offsetHeight; var resized = false; if (window.donkey && donkey.resize) {donkey.resize(height); resized = true;}if (parent && parent._resizeIframe) {var obj = {iframe: window.frameElement, height: height}; parent._resizeIframe(obj); resized = true;}if (window.location && window.location.hash === "#amp=1" && window.parent && window.parent.postMessage) {window.parent.postMessage({sentinel: "amp", type: "embed-size", height: height}, "*");}if (window.webkit && window.webkit.messageHandlers && window.webkit.messageHandlers.resize) {window.webkit.messageHandlers.resize.postMessage(height); resized = true;}return resized;}twttr.events.bind('rendered', function (event) {notifyResize();}); twttr.events.bind('resize', function (event) {notifyResize();});if (parent && parent._resizeIframe) {var maxWidth = parseInt(window.frameElement.getAttribute("width")); if ( 500 < maxWidth) {window.frameElement.setAttribute("width", "500");}}Kate, our Head of People, has been putting in exceptionally long hours leading the customer research process in Kenya with our customised 70-item long questionnaire. Special thanks are extended to our advisor Ian Grigg and Tayo Akinyemi of The Rockefeller FoundationPartnership with MakerDAO for our Use Case №1. We will be using DAI and their interest-bearing savings accounts in our MVP testing it with real people. Exciting times!How Does it All Fit Together? A RetrospectiveWhen we first embarked on the Akropolis project, our mission was to research and prototype a viable alternative to the broken pensions system that addresses our admittedly rather dark 10-year vision. The path to identifying it, learning from our mistakes and assimilating new findings into a product has not been a straightforward one. To put things in perspective, leading researchers have been publicly battling this very topic for over 35 years! However, it wasn’t until now that a confluence of the technology enabled p2p networks, openness to alternatives and emergence of viable challenger models, that a scalable solution was possible.We believe that by now we have the right building blocks in place.What’s Next?Tech and ProductProtocol-level work continues. Documentation is pending. As always you can monitor the progress on our Github, and we will be announcing our roadmap to the mainnet in our next update.A detailed article on the search for the elusive PMF, methodology, mistakes, qualitative and quantitative research methods that we found to be applicableNew improved token model, now with no artificial additives and fully organicAppearancesMarch: we will be presenting our solution with MakerDAO Head of Product in Oslo at the end of this monthApril: EDCON in Sydney is on the cards[TBD]: a field research in Africa with our local beta-testers is being planned as we speak.Product, Distribution and Technology PartnershipsWe _may_ be cooking something up with the incredible Austin Griffith and his burner walletSome big fintech names, some lesser known names, all in the name of building stuff that (a) works and (b) can be productised.Lastly…We would like to leave you with this quote by a much respected Andy Rachleff, a co-founder of the $10bn AuM Wealthfront and Benchmark Capital. His 500Startups customer development deck is a classic. Rachleff’s analysis of the product-market fit decisions made by the prodigious Sequoia founder Don Valentine led him to the following observation:“If you look at the most successful startups, they actually didn’t have the world’s best management teams in the very early days. They happened to have conceived, or more likely pivoted into, an idea that addresses an amazing point of pain around which consumers where desperate for a solution”.Yours truly,The Akro Team.References[1] Citi GPS Report (2016) ‘The coming pension crisis: recommendations for Keeping the Global Pensions System Afloat’, Actualité financière et économique — Information finance avec l’AGEFI, No data [Online]. Available at: http://www.agefi.fr/sites/agefi.fr/files/fichiers/2016/03/citi_retraite_hors_bilan_21_mars_1.pdf [Accessed: 14-Mar-2019].[2] a16z Crypto Blog (2017) ’12 Things about Product-Market Fit’, a16z Crypto Blog, 18 February [Online]. Available: https://a16z.com/2017/02/18/12-things-about-product-market-fit [Accessed: 14-Mar-2019][3] Kenya Association of Investment Groups (2016) ‘The Chama Handbook: third edition’, Kenya Association of Investment Groups, No data [Online]. Available: http://kaig.org/kaig/_dwnld_fls/0kaig e-version.pdf [Accessed: 14-Mar-2019].[4] Kenya Association of Investment Groups (2016) ‘The Chama Handbook: third edition’, Kenya Association of Investment Groups, No data [Online]. Available: http://kaig.org/kaig/_dwnld_fls/0kaig e-version.pdf [Accessed: 14-Mar-2019].Akropolis Q1 Update was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

19. 03. 15

Akropolis Q4 Update

Akropolis Q4 UpdateHello World,Last few months have not been without their challenges. With the market downturn, we repositioned our development team, adjusted our development roadmap and focussed our resources squarely on protocol development using Rust+WASM technologies.Photo by David Boca on UnsplashTech stack migrated to Rust+WASM to ensure robustness, compliance with enterprise standards and cross-chain portability. To this end, we added three Rust engineers to our team.Approached by the World Bank Group and a leading Irish life insurer ($90bn AuM)IBM technical partnership for enterprise application defined and MoU in progressA Re-cap: What problem are we addressing?Pensions are boring and complicated. Yet pension funds own almost half of the world’s total assets by value. Globally, they represent over USD47.0 trillion in asset value, whilst in Europe, pensions are one of the largest and most profitable markets with combined assets of EUR7.0 trillion.With the sheer volume of asset under management and sticky long-term nature, the legacy players have had no incentive not only to innovate but to address the mismatch of incentives in the system. With providers of capital having no self-sovereignty over their assets and seeing their returns eroded through a complex web of intermediaries with no “single source of truth” or portability of pensions records, the case for disruption of this critically important sector becomes more compelling every year.A number of analysts forecast a series of worldwide bankruptcies of major pension schemes. Some may receive government bailouts, some may not. What remains is the sheer size, complexity and urgent need to find a solution.If you have 1.5 hrs over this festive break, we highly recommend you watch the two excellent documentaries: The Coming Retirement Crisis by Goldman Sachs’ Raul Pal (our brief video summary is here) and The Pension Gamble by the Frontline.The Coming Retirement CrisisOur SolutionWhat we are targeting is a complex issue, that we believe is one of the limited number of a genuine real-world blockchain applications with ability to materially impact millions of users and therefore drive adoption, driven by need rather than entertainment, whereby alternatives can be developed without reliance on traditional “trusted intermediaries”. As such, systems design and economic incentives design as just as important as the code.Our solution is presented as a blockchain-agnostic layer-2 protocol rooted in Rust and WASM to ensure compliance with enterprise standards, upgradeability and adaptability of the code. It was important for us to ensure that our technological stack allows us to produce a universal protocol capable of portability across chains as technology evolves and to minimise dependency on a single blockchain.The protocol is designed to enable the following features:Ability to create a user-centric system, with user self-sovereignty of their data and assetsAny qualified party can set up a digital “pension fund”: unraidable and provably solvent at all timesProgrammable money: allows a sender to programme the destination into the transaction, ensuring that funds are spent for a specific purposeAbility to create novel payout models, especially for “communities of interest”Ability to create novel, user-defined contribution and benefit schedulesMarketplace for fulfillment of investment mandatesImprovement on UBI — due to matching mechanism, “salary/earnings top-up”, by a benefactor, corporation, government, anonymous philanthropist, etc.Same-day and fractional liquidity, if the fund permits itReal-time transparencyContribution or benefit pausingAutomated enrolment, administration and reportingMicropensionsMost importantly, an individual previously unavailable economic alignment of interests between capital providers (beneficiaries) and capital utilisers (fund managers). The protocol will enable the following use cases:Pensions/savings platform for freelancers (benefits: portable immutable track record)Open-source pensions/savings platform for decentralised communities of interestTransparent pensions marketplaceProgrammable pensions/benefits (multi-jurisdictional over time)UBI delivery platform linked to partial or full employmentWe are continuous reviewing protocol design to ensure the elements of the functionality can be used in the enterprise use case, as well open source.Where is the Innovation?The value of blockchain is not in simply a de facto API for legacy financial infrastructure to talk to. Instead, the value is in moving from the system-of-record at the level of the firm to an authoritative system-of-record deployable market-wide.This means developing and pushing forward the adoption of open unified standards for the consistent and cost-effective , financial primitives and common semantic approaches.To this end, we proposed and developed a financial primitive which allows for a more flexible protocol implementation. To get to the core of the underlying relationships, we abstracted the key interactions between capital providers and capital utilisers, and stripped them down to exchange of cashflows between the parties. The tokenised cashflow agreements, if correctly implemented, can be batched and traded, thus simplifying architecture and infrastructure requirements at the protocol level. More on the EIP in later posts.We will be seeking to utilise ACTUS (Algorithmic Contract Types Unified Structures), a domain-specific language of financial instruments, developed by a team of financial sector specialists from the US and Switzerland (props to the Trinkler Software team). ACTUS formalizes and implements in machine-readable form the terms and business-logic of virtually all financial contracts.We believe that a domain-specific language therefore is instrumental in building the new financial infrastructure and is just as important as the tech stack if we are not to repeat past failures and ensure cross-chain functionality on a semantic level.Ecosystem and Business DevelopmentDuring October and November, we received direct inbound requests from the World Bank Group in Washington and the largest life insurance company in Ireland via a San-Francisco InsureTech incubator. We presented our protocol and vision to both organisations, provided a vision for how a blockchain and smart contract enabled infrastructure can align incentives, eliminate costs, and provide to an increasingly mobile workforce a compelling alternative. We also shared a high level overview of our business model, market development and partnering strategy. Both institutions requested a follow-up and proposed collaboration.A more detailed business development status is below:Institutional clients or partners pipeline: In addition to our existing relationship with a leading Singaporean pensions asset manager, our pipeline currently includes responding to inbound inquiries from the World Bank Group, a number of life insurance companies and leading global pensions advisory teams looking for alternative solutions.Technology partnerships: we are in MoU stage with several blockchain companies in Korea and Europe. The flagship partnership with a leading global enterprise solutions provider is planned for early 2019.Ecosystem development: we are happy to announce that we joined a DeFi Network, alongside Dharma, Set Protocol, Maker, and other notable teams moving our ecosystem forward. Our involvement and participation will be covered in the next post.Academic partnerships: we will be announcing a DeFi venture initiative with two of the leading academic research centres for Blockchain and Big Data in the UK.Grant-making bodies: we have been invited to apply for a European Commission fintech grant through the initiative established as part of the EU plan to invest €340 million in blockchain tech by 2020.Development UpdateWe are making some of the repos public in our GitHub, where you can monitor our development progress. Our interim MVUs can be found in November and August repos. Last month, we updated our GitHub with smart contract backbone and key user journeys.Current WorkAs a result of the decision to migrate to Rust+WASM, we revised our tech stack to ensure as technology evolves, we can produce a more secure, faster, universal protocol capable of portability across chains, thus minimising dependency on a single blockchain.Our transaction broadcast layer exist to fulfil a sole purpose of affording an easy UI of approving broadcast transactions by a user without Akropolis having to interact with users’ private keys, and providing a secure solution to users. To this end, we selected two established wallets, CoinbaseWallet by Coinbase and TrustWallet by Binance.The oracle layer comprises the following elements: Chainlink which supports Ethereum, Bitcoin, Hyperledger; Proof-of-Authority bridge and Polkadot substrate.Chainlink is a blockchain-agnostic oracle provider that is currently compatible with Ethereum, Bitcoin, Hyperledger and other leading blockchains.Polkadot Substrate allows us to build an independent blockchain network (Proof-of-authority parachain) that will support WASM and can be integrated with other blockchain systems using Polkadot. Thus, Akro will effectively be a parachain, where every PF is a node.Using Polkadot Substrate allows us to quickly and efficiently deploy our protocol on the Ethereum mainnet. Jack Fransham, a software developer at Parity Technologies explains well what Substrate is.Future WorkProtocol developmentOngoing protocol specification [current work]Working on commitments to future cash flows specification and implementationIntegration and initial implementation to reduce dependency on Ethereum as we are closely monitoring the scalability progressReporting: creating a unified blockchain explorer for transaction monitoring inside the Akropolis networkUser on-boardingIntegration with Binance’s TrustwalletImproved UX/UI [in progress]Partnerships [see section below]Institutional pilot scoping — user feedback gathering and case study modellingBlockchain client pilot scoping — user feedback gathering and case study modellingResearch & DevelopmentWe continue with our R&D efforts to improve the token utility, which is an industry-wide challenge. The team has structured its work around four pillars:Token model improvementsEconomic and governance incentivesMathematical modellingReal-world testingThe sole purpose of the token design R&D was to reconcile two problems:How can we ensure that users get the best possible selection from a list of options given the voter apathy? In other words, to how align economic incentives over 2 conflicting types of actors of capital providers and service providers over long time frames (beneficiaries vs. fund managers and pension fund managers)Prevent collusions and reduce attack vectorsThe team has experimented with imitation and multiagent modeling to test and refine the optimal parameters of operation, as well as externalities that can lead to unstable performance. We use Python as basic algorithmic language, in addition to the following program packages:PyMC3 for dynamic modeling using Markoff Chain Monte CarloTensorFlow, Keras for solving optimization tasksNumPy, scikit-learn, StatsModels — mathematical program packagesOne of the current hypothesis of the team is that the model may also resolve a wider set of industries and business issues, in the context of improved allocation outcomes where information asymmetry delivers sub-par results. In order to validate this, a set of experiments will be carried out.In the process of our R&D work, we have developed a new methodology for marketplace governance that we believe has a wide set of applications outside of our use case. The approach is based on Token Curated Registries, first introduced by Mike Goldin of Consensys[1] and further developed by teams behind Ocean Protocol[2,3], Messari[4], Parattii[5], Civil[6] and other projects. Our model addresses the shortcomings of a single-TCR model and currently being prepared for a peer review. Mathematical modelling of the potential outcomes of our governance and incentives model has commenced.ConclusionDespite a deeply bearish sentiment in the cryptocurrency market and anticipation of a long winter, the interest amongst a wider traditional investor community in the problem we are addressing is only rising. As a genuine use case for the application of the blockchain technology, our mission also has a strong economic and social element. With an increasing number of market incumbent under pressure to find or fund solutions, our plan is to identify and execute on effective routes to market, as the ecosystem matures.References:https://medium.com/@ilovebagels/token-curated-registries-1-0-61a232f8dac7https://blog.oceanprotocol.com/artdaos-curation-markets-and-tcrs-2d2847e4a0f9https://blog.oceanprotocol.com/the-layered-tcr-56cc5b4cdc45https://messari.github.io/tcr/whitepaper.pdfhttps://medium.com/paratii/curation-markets-infinite-staking-247e8b72caa3https://blog.joincivil.com/the-civil-registry-a-tcr-for-quality-journalism-a2452f363665Akropolis Q4 Update was originally published in Akropolis on Medium, where people are continuing the conversation by highlighting and responding to this story.

Akropolis

18. 12. 21

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