Launched on October 5, 2021 by London School of Economics graduate, Sahr Johnny, Afreum aims to bring the entire continent of Africa into the blockchain era by building an ecosystem of apps that Africans need, such as payments, savings, loans, remittances, atomic swaps, staking, peer-to-peer transactions, and investments, on the Stellar blockchain.
The Afreum ecosystem is powered by the AFREUM (AFR) main token, the AFREUM X (AFRX) incentives and governance token, and over 40 local tokens for each African country. African tokens include ANGN, AXOF, and AZAR. It is envisaged that over time, the Afreum ecosystem and tokens provide a viable alternative for the financially excluded, and the unbanked of Africa, while offering DeFi opportunities for international users.
International users are incentivized to provide liquidity through DeFi-like features such as savings and staking pools, while African users leverage Afreum's fast and inexpensive transactions to handle various financial aspects of everyday life via apps such as Afreum Wallet, Afreum Save, Afreum Earn, and Afreum Cash.