Overview
A decentralized governance structure that incentivizes local growth and the future development of further financial tools. The ACX Network is a self-sustaining token economy that empowers participants to define financial access for themselves. Participants are incentivized to create long-term value for one another by democratically controlling the distribution of the Network’s Incentive Pool. These interactions are enabled by a modular suite of smart contracts that self-amend and distribute funds throughout the ecosystem according to the will of the network. The ecosystem consists of five core layers:
ACX utility token
Governance Protocol
Incentive Pool
Decision Modules
Off-chain services
ACX Network’s intrinsic token (ACX) is used for the following
• Voting in on-chain protocols
• Participating in auxiliary services that incentivized contributors develop
6 Billion ACX will be unlocked over time to represent the 6 Billion financially underserved and allocated to ensure equitable distribution and aligned incentives among participants in the token generation event, the underserved, and future network contributors.
ACX Network will provide true economic freedom and accelerate financial inclusion to those that need it most and provide the previously underserved with an equitable say in the evolution of their financial freedom, connecting communities so that they may all co-create and thrive together.
Problem Statement
· Crypto Communities Need Access to the Underserved.
· The Underserved Need Access to Decentralized Technology.
Team:
· Mickey Costa, Co-founder
· James Shuler, Co-founder
Problems
Ever since Bitcoin appeared following the financial crisis of 2008, crypto and blockchain enthusiasts have been optimistic about the potential for blockchain technology to usher in an era of economic efficiency and inclusivity. Yet, while a vanguard of technologists focuses on designing distributed cryptosystems to empower the people, 2 billion unbanked adults, that affect a total of nearly 6 billion lives are waiting on the side-lines. For these people engagement is forestalled by the following:
• Financially, a lack of local exchanges precludes individuals from ’buying in’ to crypto-networks
• Technologically, the lack of smartphones and internet access precludes individuals from practically utilizing crypto-network development and ’working in’ to the crypto economy.
Solutions
Atlas Money is a P2P branchless banking platform that allows anyone to become their own community micro-bank. Atlas Money Agents go door-to-door daily to Atlas Money Users collecting deposits, issuing withdrawals and offering microloans.
Atlas Money is leveraging its mobile banking platform and the borderless, programmable nature of cryptocurrency tokens to launch the ACX Network, a self-sufficient token economy that incentivizes participants in the developing and developed world to create value for one another. In doing so, we aim to enable emerging markets to leapfrog developed economies while avoiding the path of inefficient and disempowering centralized systems.
Participants will utilize ACX in democratic decision-making processes that direct incentives towards projects that contribute utility value to the ecosystem. This will allow users to continually define, price, and reward utility as they see fit. A suite of smart contracts deployed to the Ethereum blockchain will transparently mediate this process, enabling diverse sets of stakeholders to collaborate in a trustless manner.
To align interests among developing world users, developers, and developed world users, ACX will be distributed through the Access Underserved Exchange (AUE), Incentive Pool, and a Token Generation Event. Each component of this three-legged stool will provide a critical access point between the ACX token economy and relevant stakeholders in the global economy. The AUE serves as a fiat/crypto exchange for underserved populations in the developing world.
Incentive Pool rewards participants who contribute to the Access ecosystem. Token holders will use trustless decision-making procedures to decide which projects to fund and how to price them.
ACX Access Token
· ACX is an ERC-20 token that will be used to participate in on-chain decision processes as well as the auxiliary services rendered in various off-chain contexts. The entire Access Ecosystem relies on the circulation of ACX, which is analogous to a key that grants its holder the ability to participate in the network. ACX will have several core functions that multiply as the ecosystem diversifies and expands.
· The Governance Protocol gives ACX holders the power to alter on-chain components of the ACX Network by drafting and ratifying new decision modules and governance amendments • The Incentive Pool unlocks ACX tokens to reward participants who contribute to the ecosystem • Once the Polling Module is deployed, ACX tokens will be used to participate in the process of delegating, voting, and submitting polls that will allocate and disburse Incentive Pool funds to Access contributors.
· Lastly, ACX will be used as the medium of exchange and unit of account in the applications, markets, and communities that are built around the network.
The Team
Mickey Costa — Co-Founder — Techstars; Boost VC; Serial Entrepreneur; GW Law ‘12
James Shuler — Co-founder — Thiel Fellow; YC SC ’12, CTO of Eligible
Token Matrix & Distribution
Total Supply — 6,000,000,000 ACX
27% Token Generation Event
27% Access Underserved Exchange
27% Incentive Pool
12% Founders
4% Advisors
3% Community Rewards
ACX designed to speed up overall development through continued improvements to their state of financial access, accomplished by an incentivized token economy that they can govern and control for themselves. The ACX Network offers the crypto-community an elegant future-proof on-chain governance protocol and a sizeable incentive pool to stimulate innovation of the ecosystem.
Importantly, the ACX initial deployment via Atlas Money offers the crypto-community access to a fast-growing base of thousands of underbanked users whom they can directly communicate with and serve. ACX is born to connect and empower these two communities so they may thrive and co-create together.