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Akamon — Reward Distribution & Beta Transition 🔀

300k MELD, and Akagado Tokens distributed as the Akamon gateway shifts into Beta testing! 💰💸

Akamon Series

Akamon Alpha Testnet Live 🌉
Akamon Alpha — Update 1 ⏫
Akamon Alpha — Update 2⏫
Akamon Alpha — Update 3 + Rewards Announcement⏫

Akamon — The native gateway between Cardano and Polygon 🌉

Akamon Alpha ends, and Beta begins! Thank you, to each and every one of you who tested out the gateway, swapped ADA and MATIC to and from Polygon and Cardano, and left your feedback.

Please be aware that the Beta testnet is still a highly WIP, and many more fixes and improvements are coming soon (stated below). Instability could possibly be an issue on Cardano when the next hard fork hits the public testnet in the coming few days — where much of the off-chain infrastructure & tooling needs to be updated.

But for now, the time has come to announce the reward distributions and to begin Beta testing of Akamon! 🚀


Akamon Alpha Rewards
Beta Testnet

💸🎫 Akamon Alpha Rewards

We had 300k MELD and Akagado25 Tokens (25% discount for Akamon transactions) as rewards allocated for the Akamon Alpha Rewards Program. These were distributed to the best feedback providers, those that completed 100+ transactions, and to 9 record holders. Winners + transactions are listed below:

Best Feedback Providers

We are gathering the address of the best feedback providers on Discord to distribute the 125k MELD feedback rewards. Winners are listed below:

wen (sarcasm) nft#4805
alexey trovo#2881
AlexYam | Chiko & Roko#9124

100+ Transactions

We have distributed 125k MELD to 1502 users who have completed over 100 transactions. We have also distributed some tMELD (on testnet) to these people to further test our Beta testnet — wrapping MELD to Polygon and back. The mainnet transactions for reference are listed below:

9 Record Holders

45k MELD was shared among 9 record holders:

Most number transactions (4519):

Most ADA wrapped in a lifetime (2,001,740.295094)
and in a single transaction (2,001,405.295094):

Most MATIC wrapped in a lifetime (26,738)
and in a single transaction (999):

This address with thousands of transactions wins the longest total waiting time of nearly 6000 days:

Longest waiting time of a transaction at 14 days 21 hours 39 minutes and 6.755166 seconds:

Shortest waiting time of a transaction at 6.974791 seconds:

20,000th unique address:

We narrowly missed the 25,000th unique address at 24,805. The 5k MELD for this metric will be shared among good feedback providers that didn’t meet the top 20.

Akagado25 Tokens

We have distributed 2,748 Akagado25 Tokens to the 916 testers who have submitted their address. These tokens can be used once Akamon hits the mainnet to reduce bridging transaction fees.

👨‍💻 Beta Testnet

The Beta version of Akamon is LIVE and can be accessed through the same URL as Alpha:

Changes from Alpha thus far:

  • More decentralized with multi signatures for different node operators going forward.
  • Much more advanced contracts with whitelisting to wrap many more native tokens from both chains, a powerful fee system that enables discounts and paying fees in MELD (Babel fees at the application level), and much more advanced indexing and migrations.
  • Staking locked tokens at the contracts on both sides to reduce user fees as TVL increases.
  • Wrap MELD to Polygon and back!
  • Much higher throughput on Polygon with batching.
  • Much smaller throughput on Cardano due to the much more complex contracts.
  • More secure with much more on-chain guarantees and better chain rollback handling.

Changes coming to Beta:

  • Announce node operating partners and other integration plans.
  • UX improvements and community feedback handling.
  • More MELDapp functionalities for paying fees in MELD and discounts with Akagado.
  • Wrap stablecoins like USDT, USDC, and DAI to Cardano with detailed economic and dApp integration analysis.
  • Much higher throughput on Cardano with many planned optimizations from Alonzo to Babbage (coming to testnet on July 3rd).
  • Proper security analysis and audits.
  • A technical third white paper.

While we have already transitioned into the Beta era, we are still leaving an Alpha node up and running to process the remaining 60,000+ transactions from the backlog!

❤️️ Conclusion

Contribute to Akamon Beta

If you wish to contribute to the Akamon gateway, help improve the UI/UX, earn rewards, and help the greater MELD ecosystem, then come join our Discord! We have a dedicated channel to discuss Akamon, as well as a dedicated channel to request test MATIC tokens to take part in the Polygon side of the Akamon token transferring.

🔗Akamon Links

Akamon FAQ
Detailed step-by-step user experience of an Akamon transfer Akamon Public Issue Tracker

MELD — Be Your Own Bank

We think it’s essential for everyone to gain control of their financial lives and have equal access to financial instruments used by professionals, not just centralized institutions, governments, or the 1%. We want to provide financial freedom and control to the masses, including the unbanked.

We have a long-term goal to enable the $15 trillion that is currently locked out of the global economy, including 2 billion individuals worldwide that are either underbanked or have no access to banking services whatsoever, access to these tools. These are the people that are paying the highest fees, getting the worst customer service, and they are the ones that are having the most problems.

Our vision is to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. Whether that be creating a collateralized debt position (CDP) with cryptocurrency, earning an interest return for lending fiat to borrowers, or even participating in reward incentive programs, we strive to provide our users with the functions they need to manage their own financial lives.

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