Akropolis (AKRO)

What is Akropolis?

Akropolis is a domain-specific protocol that allows users to save in groups and get access to cheap uncollateralized loans, pensions and other financial services. Akropolis tokenizes credit unions and allows user groups to get uncollateralized loans, provide capital to pools, and earn interest out of it.

Oustanding Feautures

What is the project trying to achieve?

Akropolis wanted to create a solution alternative to current pension schemes - a way to save money, protect wealth against inflation, ensure access to credit and basic insurance, and remittances through a p2p network that can communicate with but doesn't structurally depend on the banking system. It was started with more of an enterprise angle, with institutional parties support but it became clear that their enthusiasm for exploring alternatives in this sector closely tracks public sentiment, which in turn was negatively affected by the collapse in prices in 2018. And, of course, client acquisition in enterprise usually exceeds 12 months.

What is the unique selling point?

Akropolis was conceived as a distributed savings and pensions fund — a solution to what it described in its initial announcement as ""a looming pension deficit apocalypse"" resulting from the inevitable collapse of state pensions systems. But in August 2020, the company stated that it had shifted its focus to building the underlying framework for such a system by creating AkropolisOS to allow for the rapid launch of for-profit capital pools.

AkropolisOS is a Solidity-based, modular framework for the creation and management of distributed capital pools and serves as the base for the company's Sparta and Delphi platforms, with the former providing access to uncollateralized loans. Akropolis has claimed that unlike other DeFi protocols, its products reduce the risk associated with these loans by providing community incentives in the form of AKRO to those who provide accurate risk assessments.

Akropolis offers many outstanding features including:

• No intervention of intermediary banks
• Integration of DeFi financial services
• Participants do not have to spend too much time locked in their loan assets to receive interest
• The system is designed to resist fraud and manipulation
• High ability to pay
• Participants still have the ability to receive their funds even if the organization they joined is dissolved
• There is potential to expand cooperation with banking models
• Rely on the token economy to create momentum for network development with low costs and faster service delivery
• Funds are kept in the on-chain ledger and only authenticated people can access them
• Blockchain is used to create transparency, real-time and immutability of user data
• Smart Contract helps to create automatic financial algorithms/tools, without the need for additional intervention by any other 3rd party.

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