AKROPOLIS WEEKLY UPDATES

January 29th, 2021:

Data as of January 29th, 2021: 

$10.24M TVL     2865 Members   64.56% AKRO Staking APY

Intro

Welcome everyone to another round of Akropolis weekly! This week was full of some big updates, so let’s dig in!

Product 

  • We have officially migrated to our V1 Akropolis product (a separate and distinct product from Delphi) and have integrated Yearn vaults into the interface! Check out the announcement here!

  • This update is a stepping stone to future integrations which include: Yearn V2 vaults and a fiat on-ramp via ramp.network.

  • We also plan to update the UI/UX shortly - stay tuned!

ICYMI, we published an update regarding the voluntary ADEL>AKRO swap specifics and the hack compensation plan. Check it out here!

ADEL>AKRO swap TLDR;

  • ADEL can be voluntarily swapped for AKRO at a 1:15 ratio (1 ADEL = 15 AKRO) with a two month swap duration starting March 1st.

  • All swapped tokens will have a 24 month linear vesting period (AKRO will be released 1/24th on a monthly basis).

  • For your ADEL tokens to be eligible for the swap THEY MUST BE IN YOUR PERSONAL WALLET (NOT AN EXCHANGE) OR IN STAKING/REWARDS PRIOR TO MONDAY FEB 1, 2021; 2400 UTC.

  • For more information regarding swap eligibility please refer to the article here.

Hack compensation plan TLDR;

  • 50% of the hack will be compensated in the form of vAKRO allocated from team funds at a rate of $0.012 per AKRO (the price immediately prior to the hack), which will be vested linearly over 24 months.

  • The remaining 50% will be compensated via protocol fees.

  • Finally, we have begun the process of deprecating Sparta by closing all deposits, lending, and borrowing. If you hold funds and/or loans in Sparta please payback and/or withdraw them as soon as possible.

Community

  • We have been getting a lot of love from our friends over at Yearn - check out this tweet from Andre Cronje here. We hope that this fantastic partnership and recognition will bring more users into our community!

  • Moreover, we have been getting a lot of great feedback from the community with respect to vault integrations and hope to make the UI/UX as seamless as possible. If you have any questions or feedback, please reach out to us via our social channels.

  • Finally, we hope to share a prototype of our new landing page soon and would love community feedback - stay tuned.

Governance

  • We are still in the process of setting up ADEL only and AKRO only Snapshot pages to govern Delphi V1 and Akropolis V1 respectively - stay tuned for more information!

As always, feel free to reach out to us on our social media channels and thank you for your continued support!