Acumen Network: Team Update!
After some gruelling developments, it’s time for an update on the Acumen ecosystem! Despite our initial deployment on Solana, we decided that it would be much more effective for our pursuit of providing cheaper access to capital to be available on multiple chains. As a result, we have been working on deployment on EVM-compatible networks. This will also allow our users a cheaper DeFi experience as it overcomes the issue of ETH gas fees!
We are currently gearing up to deploy on the Avalanche network with plans to open up pools of varying length, with a soft cap of 20mm. Not only will this capital be used to empower SMEs with financial freedom, but depositors of these pools will also be able to yield a sustainable APY. This has already been delivered to the depositors of the initial 250k pool, of which 100% of the capital was successfully loaned to SMEs in El Salvador via our credit partners! Once deployed, users will be able to earn a yield on their USDT, USDC and DAI!
As we begin to progress our way through the AVAX Network, we will be preparing for our launch on various EVM-compatible chains, starting with NEAR and FUEL! We believe our partnerships and integrations with these blockchains will aid us in the growth of our ecosystem whilst providing sustainable yields for users and empowering emerging economies. We are also in talks with 15+ of the largest blockchains and we believe these discussions will result in mutually beneficial strategic partnerships formed aiding our mission of financial empowerment of emerging economies.
ACM: Token Revenue Generation
Unlike various DeFi protocols where the token is simply used for governance, we strategically ensured our token holders were receiving a portion of the revenue the protocol was able to generate. As a result holders of the ACM token are able to net more revenue, as our protocol scales!
The market may be volatile, but that does not mean our work rate has to be! Post-launch, we plan to scale up and start rolling out across various EVM chains as well as opening up a variety of new pools. Check out our updated roadmap below!
Want to keep up with the latest and greatest from the team? Be sure to follow us on Twitter and come say Hi in our discord. We also keep the community updated through our Telegram channel!👇