Afreum launches AFR, AFRX tokens, and stablecoins to power new DeFi apps for Africa

CENTRAL, Hong Kong - Nov. 2, 2020 - PRLog -- Afreum is pleased to announce the launch of a new DeFi app ecosystem aimed at driving blockchain adoption across Africa. Afreum combines some of the key concepts of DeFi, such as staking, liquidity pools, and yield farming, while facilitating transfers, payments, remittances, savings, loans, and more, on the continent. The Afreum Ecosystem is powered by multiple tokens, including AFREUM (AFR), the main token used for international transactions, AFREUM X (AFRX), the incentives and governance token, and country-specific utility tokens, or stablecoins, to facilitate everyday transactions in different countries.

"With the AFR and AFRX tokens, local stablecoins, and the upcoming suite of custom-built DeFi applications, Afreum aims to satisfy the everyday transaction needs of African populations, while meeting the DeFi expectations of the crypto community at large. The aim is that AFR becomes a viable conduit for transactions with and between African countries, and a reliable store of value for sophisticated actors," said Sahr Johnny, founder of Afreum.

Afreum will act as a payments layer on top of the Stellar platform, with custom apps giving Africans seamless access to fast transactions, low fees, and easy on-boarding through fiat anchors, and the upcoming Afreum P2P Exchange. The Afreum Ecosystem differs from other payment systems in that it allows international actors to play a central role by staking AFR tokens to earn a share of transaction fees, plus free AFRX governance tokens.

To facilitate local acceptance and adoption, utility tokens or stablecoins, will be launched for each African country, allowing users to transact digitally in their local currency. Users will be able send, receive, pay, and manage their accounts either through SMS messages, or with the help of trusted intermediaries. For more details, please view the Afreum whitepaper located at https://afreum.com/Afreum_Whitepaper.pdf

"The AFR token is designed for international crypto users who are already familiar with the concepts of liquidity pools, staking, and liquidity mining, but would like to extend these to new markets, tapping into new value chains. By staking AFR, users are able to put their money to work, and benefit from economic activity across Africa, without taking on any of the associated risks," said Sahr Johnny.

Prior to launch in a few months, Afreum is holding a private sale of 4% of the total supply of AFREUM (AFR) tokens from 1st November, 2020 to 30th November, 2020. This will be followed by an airdrop of AFRX tokens, delivered proportionally to all AFR token holders from the private sale. At launch, all tokens in the Afreum ecosystem will be freely tradable on Stellar's decentralized exchange, and within the Afreum Wallet. Visit https://afreum.com to find out more.