Kaon

What is Akropolis?

Akropolis, established in 2017, envisions an alternative financial system anchored in non-USD-denominated, real-world assets (RWA)-based stablecoins and decentralized autonomous organizations (DAOs) akin to contemporary pension funds, community banks, and credit unions. Transitioning to a DAO since 2022, Akropolis has been managed by contributors, including long-standing community members.

Notable achievements include the first guarded launch in DeFi, reaching an all-time high total value locked (TVL) of US$25 million, and participation in the IDEO Colab DeFi Incubator & Residency Programme. Currently, Akropolis offers yVaults for optimized yields and serves as a frontend provider for Liquity troves and staking.

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Recent Video Interview

Main points of the interview:

• Akropolis' transition from institutional finance to a crypto-native approach
• Focusing on synthetic savings accounts and under-collateralized lending.
• Akropolis has launched Delphi, a yield aggregator, and Sparta, a lending solution.
• The project faced significant challenges, including a rogue market maker, but has resolved issues and resumed trading.

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Why Use Akropolis?

• Sustainable Yields: Vortex ensures sustainable yields while remaining market-neutral.
• Accessible yVaults: Simplified access to Yearn vaults.
• Automated Management: High capital efficiency liquidity provision is forthcoming.

What is Vortex?

Vortex (v1) stands as an on-chain basis trading strategy developed by Akropolis, aiming to provide long-term, sustainable, and rewarding yields while maintaining market neutrality.

Advantages of using Vortex:

• Market Neutrality: Vortex enables users to generate yields without being exposed to directional price risk, ensuring sustainability across various market conditions.
• Rewarding Yields: Historically outperforming other market-neutral strategies, Vortex offers profitable yields in all market scenarios.
• Single Asset: Users can deposit a single asset, USDC, making Vortex an efficient alternative to stablecoin lending or farming.
• Low Maintenance: Passively managed by users but actively monitored by strategists, Vortex offers periodic compounding of returns, enhancing yield.
• Ecosystem Benefits: Vortex enhances liquidity crucial for decentralized derivative exchanges offering perpetual contracts.

Risks of using Vortex:

• Smart Contract Risks: Vortex interacts with multiple external smart contracts, each carrying its own inherent risks.
• Negative Returns: Possible scenarios leading to negative returns include consistent funding rate against Vortex on perpetual exchanges, position liquidation, and excessive slippage.
• Centralization: Initial launch of Vortex involves elements of centralization, with control by a predetermined strategist.
• Temporary Suspensions: Deposit and withdrawal suspensions may occur, communicated through social channels with reasons and time estimates provided.
• Limits: Deposit limits for Vortex will be enforced, scaling over time but temporarily preventing further deposits upon reaching the displayed limit until it is increased.

AKRO Staking

Akropolis facilitates AKRO staking, a user-friendly process allowing participants to earn AKRO tokens without the constraints of lock-ups. Through the Akropolis app, users connect their wallets containing AKRO tokens and navigate to the staking page. Here, they input their desired token amount or deposit all available AKRO. By clicking 'Approve' or 'Deposit,' depending on prior approvals, users confirm the transaction within their wallet. Once confirmed, the deposited balance promptly reflects in the interface, affording participants the flexibility to withdraw their tokens at any time. This streamlined approach underscores Akropolis's commitment to accessible and efficient DeFi solutions.

AKRO Utility

AKRO serves as a governance token empowering holders to participate in decisions affecting Akropolis. This includes voting on new features, protocol upgrades, financial strategies, and DevFund distribution, placing AKRO holders at the core of platform governance.

Team Background, Investors and Similar Assets

Founded in 2017, Akropolis emerged with a vision of an alternative financial system, emphasizing non-USD-denominated, real-world asset (RWA)-backed stablecoins and decentralized autonomous organizations (DAOs) mirroring the functions of contemporary pension funds, community banks, and credit unions. Transitioning to a DAO since 2022, Akropolis operates through contributions from its community, including longstanding members.

Akropolis is backed by Spartan Group, IdeoColab Ventures, and Ledger Prime.

Some similar assets to AKRO are Badger, Cream, Harvest Finance, mStable Governance: Meta, Rari Governance, Sushi, UMA...