Frequently Asked Questions

  • What does Acumen do?

    Acumen seeks to use DeFi to do good through microfinance by offering users to stake stablecoins and lock them up for 6, 12 or 18 months, receiving an attractive, uncrorrelated yield depending on the period of lock up. The money is converted to fiat and lent out to entrepreneurs in El Salvador who do not have regular or easy access to traditional banking. These business owners currently need to tap the 'grey' market for such loans and often pay in excess of 30% interest per month to loan sharks. Microfinance has been proven to be a true force in achieving financial inclusion and Acumen's team is driven by improving the lives of entrepreneurs in their home land. After successfully setting up in El Salvador, Acumen seeks to bring its model of using DeFi for good to the world, starting in Africa, where early partnership discussions have already begun with local partners.

  • Most DeFi yield is correlated to crypto market activity. When people want to buy a lot of crypto, yields rise. When demand goes down, yields fall. Some users might prefer a yield that can stay at an attractive level for the duration of its life, independent of crypto market sentiment, which is what Acumen provides.

  • Acumen has been able to achieve a number of milestones. First and foremost, the Acumen DAO has become the first DAO recognized by a country's central bank as an authorized lender. This means that the DAO can liquidate and collect on collateral in the real world. It also meaningfully reduces counterparty risk for anyone engaging with the DAO. Secondly, Acumen has successfully deployed its first tranche of microfinance loans and has proven social impact with the entrepreneurs it lent to, as well as generated an attactive income for DeFi users. Finally, Acumen has partnered with numerous blockchains to help grow its ecosystem and attract liquidity, while also successfully funding operations and its microfinance dapp. These partnerships will be announced over the coming weeks and months. Acumen is not just a virtual front - there are numerous real-world regulations that the team is dealing with. All this while acting as a DAO (decentralized autonomous organization), an institutional form most governments have never interacted with. While that means speed of progress may not be as fast as with others, purely virtual DeFi projects, we believe that we are building a lasting initiative that can change lives and in turn also improve the standing of DeFi and crypto in the eyes of the world. A short documentary on Acumen's early success in changing lived can be found here https://vimeo.com/751788692 .

  • Loan operations are not a trivial pursuit. Collateral needs to be evaluated, agreements need to be made and creditworthiness needs to be assessed. Acumen is proud to partner with the Small and Medium Business Association of El Salvador for local operations and has already established early discussions for global expansion as well.

  • This differs by tranche and details will be offered to users. Broadly speaking, real-world collateral always backs the loans given by Acumen to some degree and a careful assessment is done regarding the recipient's ability to pay back the loan in order to minimize defaults. The big factor in Acumen's favor is that a business owner moving from 30% interest per month (!) paid to sketchy loan sharks to a new loan that requires a payment of just 1-2% per month has a lot of fresh, unencumbered cash flow available for use to service their debt. Nonetheless, defaults are a risk of giving out loans and capital is fully at risk.

  • Originally, the Acumen team selected Solana as its home base, even releasing the network's first operational lending platform as its proof of concept. However, over time numerous reasons made the team reconsider. The main reason became Solana's unreliable network performance over a long period of time. Lending, even when done in a 'trustless' manner always entails some amount of trust and the team found that trust in its brand was being eroded by unstable network performance. Furthermore, it has always been Acumen's vision to operate fully cross-chain in order to access the best possible liquidity for its microfinance operations. Solana may remain one of Acumen's homes in the future.

  • When Acumen was in the initial proof of concept phase, it rewarded early users with a placeholder token, called ACMN on Solana. There used to be an unofficial market for this token opened by one of the users, but directly from the DAO these token were exclusively given out as fair launch token to early supporters without having received money for them. In other words, these are free token awarded for early protocol usage. It is important to bear that in mind. Acumen will airdrop the official governance token ACM (or an EVM version of it) to all ACMN holders (as determined in a snapshot at a previous date that had been announced on all its social media channels; current ACMN token are worthless - do not buy them) as per the original promise. The timing of this will be voted on by the DAO, however proposals will be made to accomodate liquidity in the token. This means that the airdrop may well take much more time that users would hope for, but as Acumen is not looking to become 'just another pump and dump crypto', it is vital to ensure airdrop token do not imperill the long term mission by undermining token price. This is a long and elaborate way to say: airdrop token will be paid when the market is liquid and mature enough to sustain the amount easily. Progress towards the team's goals is made daily in the mean time, so the likelihood that you will receive your token at a more statisfactory value than if they were paid out now is considerable. It has to be stressed again that these token were awarded for free. There are approximately 500,000 token in total that will be distributed over time in this airdrop.

  • Stablecoin tranches that fund the lending efforts are opened on the app regularly. You can stay up to date on Acumen's social media.

  • Currently, the Acumen governance token is live only on Solana with a small IDO compelled on Dexlab to get early activities on the way. The token (ACM) is tradeable on Dexlab.space. As discussed above, Acumen is fully launching its micofinance dapp on EVM compatible chains to access greater liquidity. During this process, the home of Acumen's governance token will also shift from Solana. Details of this shift will be announced and neither the airdrop participants, nor the current ACM token holders will be left out. The token currently trading on Dexlab is a fully valid Acumen governance token.

  • The circulating supply is currently around 1 million tokens. The total supply is fixed at no more than 19 million token.

  • Currently on dexlab.space but as Acumen completes its migration to EVM chains, venues may change. Centralized exchange listings are likely as well and discussions have already successfully concluded. Discussions with market making firms are in progress. However, as with everything regarding Acumen, this project seeks to build sustainably. Just because a CEX listing is possible does not make it the right time yet. Note that decentralized token markets can be set up by anyone and the Acumen DAO does not currently make the market. No token are sold from the DAO to users.

  • Acumen token holders control the DAO. Governance proposals can be made by all holders and voting is open to all. The team is bound by governance votes. Furthermore, it is possible that token holders decide on rewards for those holders locking up their Acumen token in single asset staking in the future, providing an attractive utility to all holders. Finally, you are supporting a crypto project that seeks to do good in the world. Don't forget that.

  • Single asset staking will be released some time after the EVM migration is completed after a DAO vote and will play a key role in ensuring long-term alignment of token holders with the DAO's vision and vice versa. It will also likely entail rewards.

  • This depends in numerous items, first and foremost on finding the best partners for onchain microfinance. That process is well underway and first partners have been announced. It is expected to complete in Q4 2022. Please remember that, as stated above, Acumen is not just another pump and dump. We may move slower than some other projects but we are striving for real world impact. Patience is a virtue.

  • The Acumen DAO is built for financial inclusion. That means it is designed to enable everyone to participate in finance in an open and decentralized manner. Acumen's vision is also to use DeFi to do good. Therefore, it is fully compliant with the laws of the countries Acumen operates in. Services and token are not available in certain jurisdictions. The team hopes that this can change as regulatory clarity improves and has already made preparations to satisfy KYC & AML regs in jurisdictions where it does not currently operate, but hopes to in the future. It should be noted that, by combating the grey sector and promoting financial inclusion, Acumen's activities are welcomed by governments where it operates.

  • Acumen is meant to be a true DAO. Financial inclusion also means a move away from centralization. Furthermore, Acumen is competing with loan sharks that are not happy about an alternative to their outrageous loan rates appearing on the market and in countries where harm has come to those fighting powerful adversaries before. For these reasons, the team would like to maintain a first layer of privacy. Nonetheless, Acumen (while recognized officially as a DAO) does have legal representation in the countries where it operates and has interacted with government agencies, so as for the team 'exit scamming', you may be reassured by the fact that partners and lawyers do know the team personally. The team solely represents the DAO; all decisions are taken by the community.

  • Telegram: https://t.me/AcumenOfficial Discord: https://discord.gg/UXDnngxRmn

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