Akropolis – Ethereum-based DeFi protocol review

Akropolis (AKRO) is a digital asset designed and built on the Akropolis.io network to supply users with the necessary tools to save, grow, and scale. The project’s vision is to build an alternative to informal financial institutions such as ROSCAs, mutuals, guilds, co-ops, etc. 

The Akropolis DeFi-token eradicates dependence on geographical locations, middlemen, and central counterparties. Built on these ideas, AkropolisOS is a light and modular framework that’s best for the creation of profit-driven Decentralized Autonomous Organizations (DAOs). It comes with an easily customizable user interface and an automated liquidity feature that’s made possible by the bonding curve mechanism, treasury management, and programmatic liquidity.

Key Points

  • Akropolis is the best blockchain solution for pension-related problems.
  • The AKRO token will help individuals to create their own pension funds. It is designed to provide a solution to the challenge of establishing trust between principal network actors and enabling good network governance.
  • The token can be swapped for fiat money or other cryptocurrencies.
  • Users of Akropolis will no longer experience pension payment delays, as they will decide when they want their payments made.
  • Sparta is Akropolis’ first product is a community-owned fund that makes it possible for undercollateralized loans and passively generated yields to benefit from the maximum available APR across a range of DeFi protocols. 
  • Delphi is another Akropolis product that allows users to easily dollar-cost average their cash into BTC & ETH and partake in various yield harvesting opportunities. 

Platform Features

  • Does not require a bank account.
  • Designed to be fraud or manipulation proof.
  • User incentives to help grow the network by lowering the cost of use and fast-tracking service delivery.
  • DeFi integration capabilities provide for a continuous savings rate.
  • Offers continuous interest payments eliminating the need for   long-term lockups in order to qualify for interest earnings.
  • Transparent, real-time, immutable financial record-keeping.
  • Users are able to create automated financial algorithms through programmable immutable smart-contracts.

Ecosystem Participants 

  • End-users/all network users, participating in at least one Autonomous Finance Organizations (AFO)
  • AFOs and their associations (Guilds)
  • Capital providers
  • Network keepers

The Problem

Akropolis is a project that combines the blockchain and elements of a non-governmental pension fund. It is a fact that over 40% of retirees fail to receive pension payments. A lot of factors can be responsible for this and some of them include:

  • Undependable public and private pension funds
  • Inadequate pension contributions
  • The political or financial instability of relevant government arms

The Akropolis Solution

According to data obtained in 2015, the global pension deficit is 70 trillion USD. By 2050, experts predict that the amount will surge to 400 trillion USD. A lot of countries are presently grappling with unsecured pension liabilities. The traditional pension system can no longer be trusted, hence the need for something better and more effective.

Akropolis is the long-awaited solution that promises to bring an end to these problems through the introduction of new methods of operating the pension system, which will have their foundation on intellectual contracts. A sub-market will also be generated by Akropolis via the issuing of its token. Anyone in possession of the token can conduct internal cryptocurrency transactions.

Using the funds raised during the issuing of tokens, Akropolis will make investments in the crypto market or the real sector of the economy. Owners of the token can carry out other functions like forming their pension funds, investing in a wide range of projects, or good old token storage. The entire system will run on the blockchain.

From all the above, it is obvious that Akropolis is a project that comes with many functions – cryptocurrency exchange operations, mutual settlements market, accumulation, mutual investment instruments, and lots more. This blockchain-based project is a first of its kind and aims to transform the US-funded pension system. 

How Does it Work?

Akropolis offers a decentralized platform for pension funds. With the accumulated pension funds, individuals can determine when they want to receive their pension. The process will be carried out with the platform’s native token, which can either be exchanged for real money or other crypto assets.

Akropolis is designed to have a 2 layered data system, namely: off-chain and on-chain. Although all data is stored in the blockchain, off-chain is stored in the private database, while on-chain has its storage in the public database.

Based on this architecture, the public database will handle all processes related to account keeping and will also provide data storage. The private database, on the other hand, will house all corporate and personal information. With this sophisticated model, the Akropolis platform may have the ability to solve problems cost-effectively and securely.

There are five agents on the Akropolis system that are actively involved in the interaction on the platform: 

  • Asset Tokenizer
  • Pension Funds
  • Individual Users
  • Developers
  • Fund Managers

Users of Akropolis will carry out all activities utilizing their profiles, which are well protected from unauthorized external influence, theft, or alterations of pension accrual and investment data.

Both free and premium services are available to individual users. Fund managers will be able to locate new clients and additional sources of capital. Institutional users will easily access services, data, and capabilities. The community of developers will have access to various tools and opportunities that are useful for ecosystem development.

Conclusion

Akropolis is a developing community and a fast-growing one. AkropolisOS is an exceptional financial tool that will facilitate the launch of hundreds of user-controlled banking products. AkropolisOS is built using the OpenZeppelin SDK and Facade Pattern, designed for fast, scalable, and flexible development. The team behind Akropolis appears to be experienced, capable, and smart. They are well versed in blockchain technology, fund management, pensions, and insurance.

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