Akropolis TGE update

Akropolis
Akropolis
Jul 23, 2018 · 4 min read
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Monday, 23 July 2018

Dear Akropolis Community,

We’ve always set the security of the Akropolis ecosystem and its organic development as our top priorities.

In this important update we’ll be covering essential items including our presale status, key partnerships, new institutional investments as well as our hard cap reduction.

Akropolis is not just a token sale project.

We are building a new financial infrastructure from the ground up with the purpose of solving a US$36 trillion problem that will become a US$400 trillion problem according to WEF. A protocol that will be used to pre-empt and address the main pain points in the pension sector — a heavily regulated and old-fashioned sector of the global economy.

Thus, we need to be extra-careful in regards to the legal aspects of the Akropolis model.

After extensive discussions with our early backers, partners and advisors, we have decided to reschedule the token sale to September 2018. The exact date will be announced closer to the time.

Akropolis presale status

The Akropolis pre-sale was split into two rounds, the first round took place last January while the second round was the late spring community round.

The first round was designed for our strategic partners, advisors and institutional contributors, while the second round was designed to engage our active community members.

Among our early backers are the world-class blockchain investment companies, such as Kenetic Capital, Prime Block Capital (Beyond Blocks), Polymath, and Blockground Capital.

We are grateful to our early supporters for understanding our decision to reschedule the token sale. In fact, some of them asked us to postpone it to give the project the best chance to adapt to the increasingly challenging ecosystem conditions.

We have observed a number of unauthorised pools claiming to have allocations to the project. Unauthorised pools have not been given access to the pre-sale, which is now closed. All our early contributors are actively involved in supporting the project by contributing their technical expertise, community and ecosystem development initiatives, and asset management sector partnerships.

To address prior questions, we would like to emphasize that ETH/USD rate for the private pre-sale is pegged 48 hours before the token generation event, which means that both private and crowdsale participants will have the same rate.

Institutional Investment and Product Co-Development Partnership

We are excited to announce an investment and product co-development partnership with a Singapore-based asset management firm AREA Partners serving the top 6 global pension funds and sovereign wealth funds, including Canada Pension Plan Investment Board (US$356 billion AuM (“Assets under Management”) and Malaysia Employee Provident Fund (US$ 290 billion AuM).

In an ecosystem rife with gratuitous partnerships that have little to no substance, what does this partnership announcement mean for Akropolis and its token holders?

First, as a product and a mission-focused company, we’ve been extremely concentrated on the product since the initial fund raise earlier this year. We’ve utilised this time to make significant progress and beat our own internal timelines, which has resulted in significant reduction of execution risks and validation of our vision through careful planning and dialogue with our industry expert group. As a result, we have gained greater visibility around key execution dependencies, technical and business roadmap, and revised capital requirements.

Second, the opportunity to co-design a protocol and its practical implementations with input from the major global industry players and blockchain experts increases chances of Akropolis becoming a key protocol for driving crypto adoption through the pensions and savings vertical of the financial ecosystem.

So what does this all mean and lead to?

We are working hard on things that truly matter!

More substantive announcements are in the pipeline: more of key institutional and major blockchain partnerships, a concrete roadmap to individual user acquisition, all along methodical protocol specification and build work with our growing developer team — more news on that later!

  • All prior whitelisted candidates retain priority during the crowdsale process
  • Our MVU is available on Ethereum Ropsten testnet. A detailed overview will be published in the next days, including analysis of the code, which you will be able to review in our Github.
  • In the meantime, we will be dialling up our community initiatives, so stay tuned for updates!

Thank you for your support.

Here is to building a trustless financial future for everyone.

If you have any questions about Akropolis, our products, pension crisis or our Token Generation Event, we are happy to answer them 24/7 in our official Telegram chatroom!

Akropolis

The Financial Protocol for the Informal Economy

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