Discover and read the best of Twitter Threads about #Acumen
Most recents (3)
1/ #Yield generation for $USDC, $USDT, $DAI or other #stablecoins has been pretty much dead after #FTX and the #Mango hack. However, there is still a very nice opportunity to generate high yield in #Defi:
#Acumen, home on #AVAX @avalancheavax. A short 𧔠shows how to get it:
#Acumen, home on #AVAX @avalancheavax. A short 𧔠shows how to get it:
2/ #Acumen generates #yield from real world #microfinance activities. It is based in #ElSalvador and that is also its first market. The team genuinely wants to improve lives of the people who live there and they just launched on #AVAX.
How does microfinance generate the yield?
How does microfinance generate the yield?
3/ In #ElSalvador, a lot people and small businesses do not have access to traditional banking. Worse, even if they now get a bank account, they lack a "credit history", so the bank is not willing to lend to them. To build a business and invest, they turn to loan sharks.
I really love all the project we work with. Truly. But my favorite project in #crypto at the moment is doing its #IDO soon so I wanted to share a bit: Acumen Network @acumenofficial building on #solana.
A đ§”on why I like it so much and why I think itâs just what #DeFi needs:
A đ§”on why I like it so much and why I think itâs just what #DeFi needs:
1/ Acumen has set out to use the power of #DeFi to bring #microfinance to underserved segments of the world, starting in El Salvador.
Microfinance means giving out very small loans to people who otherwise donât have access to financing to start a business or keep it going.
Microfinance means giving out very small loans to people who otherwise donât have access to financing to start a business or keep it going.
2/ Famously the inventor of microfinance, Muhammad Yunus, received the nobel prize for peace for his invention and the effect it has on communities if done right.
This isnât to say it canât be criticized. Lotâs can still go wrong and some microfinance is exploitative.
This isnât to say it canât be criticized. Lotâs can still go wrong and some microfinance is exploitative.
When the coronavirus pandemic first really hit Nigeria in March, we all didn't know what to expect. As the impact on supply chains, employment, funding rounds & national economies became more manifest, many startups braced themselves for The End.
As layoffs were announced, some businesses folded up, VCâs (we @vp_fund kept investing) warned of dark times ahead & restructuring experts predicted the beginning of a âgreat unwindingâ after a decade-long boom.
Five months later while challenges persist, especially with the impact on consumer spending & access to working capital, startups that offer virtual learning, telehealth, e-commerce, streaming, and software for remote workers are seeing a surge in demand.
