Akropolis and ChainX partnership: decentralized finance and cross-chain interoperability for the Web3 ecosystem
Akropolis 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, Akropolis
ChainX 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.