Whitepaper

Algorand Standard Assets Portfolio

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Welcome to ASAPORTFOLIO!


In the last few months, the Algorand Dapps ecosystem has seen an explosion of great projects, to a point that it has become impossible to follow and participate in each and all of them.


Being invested in many of those projects ourselves, we quickly realized that no portfolio app lets you track your investments in ASAs. Especially, when you want to know your gains or losses in the tokens you had invested in.


During the bull market of ASAs in November-December and up until the Tinyman exploit (2-1-2022), we were taking screenshots every night, or copy-pasting data to spreadsheets, and manually checking each one of them to see which were winning and which were losing.


There are many charts projects right now, and they all look great and promising, but we haven't been able to find one simple portfolio app, where you can quickly see a list of the ASAs you are invested in and check your gains/losses.


We took advantage of the Christmas holidays to assemble a close team of family and friends, composed of developers, IT engineers, businessmen, marketing managers, and lawyers, and we quickly realized what a great project it would be to create a portfolio App, specialized in the sprouting Algorand ecosystem, community-based and run as a Decentralized Autonomous Organization (DAO).


First of all, we analyzed the existing phone portfolio apps, and we could see a few problems. To begin with, as said, none of them list our beloved Algorand Standard Assets. At most, they list ALGO and maybe one or two of its biggest ASAs.


Secondly, most portfolio apps outside of Algorand are owned by big centralized exchanges, and we could detect unfair behaviors, for instance, failing to list assets from their competition, so their centralized product can't be trusted by a user who wants unbiased information.

We decided to embark on this project to build the ASA Portfolio App, and defined the principles our project had to be established on:


1. Algorand Ecosystem-based.


2. Decentralized: community based and run as a DAO.


3. Self-sustained: after the initial funding and developing phase, the app will be self-sustainable, earning income by links to exchanges, websites, and advertising.


4. Community-run: the app will have its own ASA, and the owners of the token have "team member status": once the app has been released, all holders of $APF will have to participate and help in strategic, design, feature and marketing decisions and get rewards for their work.

To put the project through, we have established the following ROADMAP:


1st Q 2022: 


1-Project definition, uploaded first website draft, contacted Algorand Inc and Foundation to apply for grants and verification. Token APF minted. Backend development starts. 


2-Presentation of the project to the community, via Reddit and Twitter, and opening the Presale period for early backers to start participating in the project. 


2nd Q 2022:

 

3-Closing the presale window, launching liquidity on Tinyman (and/or other similar AMMs). Releasing the beta app to early backers for beta testing and suggestions. Developers continue production of the app and implementation of desired features.


4- Presale participants will receive their tokens on layered vesting, at a rate of 10% each week after launch, for a total of 10 weeks wait. The exact date and time of each distribution are not disclosed (stealth). As the presale allocation is 10% of the whole supply, this means that 1% of the total supply will be distributed every week. This condition has been updated as of 22-March-2022 to improve conditions for early backers and protect investors from excessive price volatility around presale distribution, and follows the advice from experienced ASA creators and advisors in the Algorand ecosystem. (Previous plan was to distribute 100% of the presale token after a 3 month wait).

3rd Q 2022 and further


5- App launch into the market via the Play store and Apple store. Controlled release of the token through marketing by influencers, airdrops, and social networks. The token reserves are also slowly distributed to holders providing liquidity and as a reward for staking into staking pools. No $APF will be put in circulation from the reserves until early backers have received their full share of their allocation.


6- Advertising and sponsorship deals are signed with other ASAs, DEXs, VCs, etc, providing revenue for the app to be self-sustained.


7- Every substantial decision into the future of the app will be submitted to governance votes. $APF token holder's votes will be equivalent to their share of total supply. Profits made by the app will be shared with $APF holders as rewards for staking, providing liquidity, voting in governance and other forms of active participation in the project.

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