Acumen Price (ACMN)

What Is Acumen(ACMN)?

The Acumen protocol is an autonomous, non-custodial interest rate protocol native to the Solana blockchain that uses algorithmically set interest rates to enable open financial applications.

Acumen facilitates seamless interest-earning by establishing decentralized money markets, which are pools of assets with algorithmically set interest rates based on the supply and demand of loanable funds. Acumen engenders the ability to earn interest on your SPL tokens by connecting suppliers and borrowers of assets together. The Acumen protocol is inspired by Compound and Aave. Interest rate models and the architecture have been modeled off these protocols.

How Acumen Works?

A major problem that plagues most DeFi protocols on the Ethereum blockchain are gas fees. Since Acumen is natively built on Solana, Acumen can attain the network’s sub-second finality and the average transaction fee of $0.0001, making the protocol faster and more efficient while at the same time saving money. Speed and cost is an essential component for lending protocols; if gas fees are too high it makes basic transactions unprofitable and ineffective. By leveraging Solana, we are able to remedy the problem that plagues most lending protocols on the Ethereum blockchain and make micro lending a profitable reality.

Acumen protocol also has other use cases. Individuals who are bullish on a specific asset can use the protocol to earn additional returns on their investment by supplying assets in the protocol. For example, if someone was bullish on SOL, they can lend out SOL and earn interest on it. Conversely, the Acumen protocol can also be used to short tokens. For example, if an individual believes that token X will depreciate, they can borrow asset X sell it for a stablecoin, and when asset X depreciates, buy it again, repay the loan and keep the difference.

Individuals can also benefit from the easy-to-use liquidation platform (covered more in-depth later on). In order to be a liquidator on most protocols, one must have an innate knowledge of smart contracts to code and launch their own bot. Acumen makes liquidation easier by allowing users to see all undercollateralized loans. From the liquidation tab, users can then choose which loans they want to liquidate. Essentially, buying their assets at a discounted rate, this will be discussed further in the documentation.

Acumen (ACMN) Community

• Twitter: https://twitter.com/Acumenofficial
• Discord: https://discord.gg/UXDnngxRmn
• Medium: https://acumenofficial.medium.com
• Telegram: https://t.me/AcumenOfficial

What is Acumen (ACMN) Contracts address?

• Solana: ACUMENkbnxQPAsN8XrNA11sY3NmXDNKVCqS82EiDqMYB