Dive in! How to test Akropolis Beta

Akropolis
Akropolis
Mar 2 · 3 min read

We have launched our public testnet recently — now our users are free to test and try out taking undercollateralized loans on the Rinkeby testnet.

The Akropolis Beta testnet features basic functionalities, and it is an initial frontend version.

How does it work?

You can check the current functionality of Testnet v0.4 in our latest development update. As to mechanics of pool — please find the short version of how our pool works below:

All logic behind the pool is based on the automation of market relations between pool participants and borrowers. Both parties are interested in profit.

You enter the pool by depositing DAI — and at the same moment, you receive a new token (pToken) in return. The price of pToken is based on the Bonding Curve mechanics and dependent on the overall liquidity of the pool, utilization ratio, etc. (learn more here).

Each new member receives pTokens for their DAI, and in the first version of the pool pTokens are non-transferable (the only transfers available are between each user and the pool).

We want to make the user experience as simple as possible, so all the balances in the pool are in “DAI”, but the actual balances are correlated with the pToken price, and these are always visible in your wallet. As users continue to make deposits, or participants take/repay loans (liquidity in the pool changes) — balances also change their value, rising and falling.

This is a testing phase, so there are no real assets involved. It’s meant to prove that in most cases, the pool generates interest. It depends on the loans issued in the pool and the total liquidity of the pool. Even if you do not do anything, do not participate in the staking for loan proposals, you may still receive interest.

Please note that working with a pool is not a short-term investment. Don’t be concerned if after first deposits your profit is shown with a “-” sign, this is due to the difference in the entry and exit prices of pTokens, which are formed according to the Bonding Curve model. Just work with the pool or wait a little while, and the parameters will improve.

We also prepared a FAQ with answers to possible questions and a step-by-step guide. Please ping us if you think we need to add anything else — we’d like your experience to be optimal.

For developers:

Please take some time to learn our protocol — your participation matters.

1. The actual and finalized code, that is undergoing an audit, is now published here: https://github.com/akropolisio/akropolisOS

2. The list of actual smart-contracts deployed on Rinkeby testnet:

  • FreeDAI: 0x3F5B698332572Fb6188492F5D53ba75f81797F9d

3. To get FreeDAI for testing you can call the smart contract 0x3F5B698332572Fb6188492F5D53ba75f81797F9d function mint()
Run https://www.myetherwallet.com/convert-units

4. Check our dApp: https://pool.akropolis.io.

5. Learn about our protocol and product here.

6. If you find any inaccuracies, bugs, or if you have any questions about working with smart contracts, you can create a new issue in the Akropolis Github repo, we’ll be on it in no time.

7. Happy hacking!

As this is our Beta version, Akropolis at this point might be buggy.

We are continually fixing it and adding new functionalities on a weekly basis during our development sprints, and your feedback helps us progress faster and better.

If you have some feedback or additional comments, we have set up a Discord where you can discuss technicals such as pool implementation, UX design, potential bugs, possible integrations, etc.

Akropolis

The Financial Protocol for the Informal Economy

Akropolis

Written by

Akropolis

Financial Protocol for the Informal Economy https://akropolis.io/

Akropolis

Akropolis

The Financial Protocol for the Informal Economy

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