# Abachi
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**Note:** This page is currently in active development and the content may change or be updated. We are working towards the launch of the Abachi and more information will be added closer to the launch and post launch.
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## What is Abachi
1. A platform that builds, funds and acquires tech that will onboard real world businesses to DeFi.
2. A staking mechanism that has an inflationary emission that starts at 192,300 and finishes at 10 million based on the Olympus DAO technology but without any backing via the main treasury. Backing is provided by utility of the token and a minimum viable price to keep the token functional and mint tokens only when demand for staking is high.
# What is Abachi Core
Abachi Core is the fundamental infrastructure and set of tools / SDKs that will enable traditional finance apps & services to interact with Abachi's DeFi tech. Some key components of Abachi Core are
* Fund / Build a **multi-chain wallet** which can be used via an SDK for partners, the wallet should enable recovery for real-world users and partners that are using the SDK to provide these services. (learn more)
* Launch (accredited & non-accredited) **stable coin pools** incentivized by ABI with the highest yields possible in the market. (learn more)
* Provide the **middleware services to partners** that can onboard real world users. e.g. Luca Plus, which has already completed the KYC & AML for them, and can tap into a shared pool of accredited lenders and borrowers. This again increases as more partners onboard as all of them can share the same pool. (learn more)
* **Tokenize these pools** and offer more complex markets with various yields from TradFi. E.g. Junk Bonds, Junk Credit pools. These would then become CDOs offered on-chain to an accredited market of buyers and sellers. (learn more).
* **Tokenize accreditation**, entity risks (credit scores) and KYC requirements so they can carry across when using shared pools. (learn more)
* Launch **markets for rated credit instruments** (e.g. CDOs), launch markets for on-chain currency swaps, launch markets for physical asset based lending. (learn more)
# Smart Bank & DeFi Wallets
This is a basic flow of how the SDK abstracts wallet features:\
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We will add more detail to this in the coming weeks. For Bank payments, the payment is facilitated "directly" from the banking app while the bank feed is streamed to the front-end facilitated by the SDK That will encapsulate various banking standard APIs.
For smart wallet payments, the payments are made "in-app" via the integrated smart wallet. See on-ramp for how a bank -> Wallet flow is proposed to work.
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**Note:** We already have access to banking feeds via our partner LUCA Plus for businesses that are onboard with them.
**Multi-Chain:**\
The wallet SDK will allow users to move assets between chains seamlessly. It does this by two ways:\
1\. Send the transaction back to Abachi SDK where the Abachi maintains enough balances across chains to facilitate a network transaction fee. It will swap ABI to native on-chain fee as needed. The transaction is then pushed via the network. On the UI the user will only see two balances (a stable coin like AUD or USD, and ABI). As their ABI balance goes lower, the user will only need to top this off to keep using the system. \
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2\. Partners will subsidise the above fee by only charging the customer they are servicing a fee in usd. In this case the transaction sends a message to the partner wallet which send back the estimated fee. The transaction is then wrapped with the fee and pushed directly on-chain.
3\. In case the funds need to be transferred across a bridge, they will be transferred using native integrations with popular bridges like composable, synapse and anyswap. The SDK remains trustless however there is a trusted relationship between the user and the provider of these services.
# Lending Pools
One of the major aims of Abachi is to be able to launch lending pools which can be shared across accredited lenders and borrowers.
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For high yield lending, we are currently funding 10k towards a strategy to use rebases as yields while fully hedged. You can learn more and join it here: [https://wagmi.ink ]()
Some more info on the funding here via Asfi's tweet: \
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**Proposed Lending Pools**
The initial structure of the lending pools is very similar to the three pool architecture in use today.
**Phase 1:**
In the first phase Abachi will launch Stable Earn pools incentivized by ABI tokens. To increase the earning potential the lenders will need to acquire the tokens and boost their earnings by locking them (very similar to e.g. curve).
The stable pools are then divided into three distinct sub-pools:
1. Accredited pools (on-demand, centralised)
2. Decentralised pools
3. Reserve & insurance pools
**Accredited / Permissioned pools**
For a borrower or lender to be able to use an accredited pool, they must have been previously verified as an accredited lender or borrower. This is done via a tokenized credentialing system which is tied to their wallets. The lender or borrower will be able to generate this without having to do anything as our front-end partners will power this via a simple click to register the wallet. See credentialing for more details.
In future phases we will slowly offer sub-pools inside the accredited pools. We hope to be able to launch pools yielding different yields. A web front-end app will be provided to lenders in the start, but eventually most of this logic will be abstracted via SDKs available for partners to use and integrate into their own apps.
The use of these pools and transactions will require small amounts of ABI charged via the SDK. We may see implementations use these pool outside the ABI ecosystem also.\
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The structure is being built for this, however initially we propose:\
1\. **1000** ABI is needed to stake per pool.\
2\. The staked ABI does not get any staking rewards and will be used to incentivize the pool. It will be paid back to the users of this pool.
Each transaction on the pool will be paid using ABI. We propose a 0.03% fee per transaction to start, however as the protocol is built and used, this may change.
**Decentralised pools (permissioned):**
For example aave arc and any other decentralised options where the lenders can earn a stable yield, no accreditation is required. Abachi will provide a simple SDK for front-end apps to call and integrate directly with platforms such as Aave as part of its core services offered.
Decentralised pools will charge 0.01% per transaction in ABI fees.
**Reserve & Insurance pools:**
Abachi will move some of the earned yields automatically into a reserve / insurance pool. This will be used to invest into decentralised insurance products e.g. Nexus Mutual that add to the protocol security.\
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ABI is used to buy insurance for the protocols as this is a core requirement for the core services to function.
# Accreditation & KYC
Permissioned pools and KYC requirements are already a reality. We see this with the Aave Arc approach. Abachi wants to extend this support as credentialing and verification can be tokenized and shared across partners if all of them are using the Abachi SDK with on-chain proofs available.
This is what the current flow for Aave Arc looks like on the left side. \
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On the right side is what Abachi hopes to accomplish. \
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**Some features**:\
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KYC/AML rules will in most cases already be available on the front-end app. Abachi SDK will allow the front-end app to tokenize these against entity IDs (tenantIDs, businessIDs etc.). Once tokenized, they can then be shared across with partners and carry through properties which can be extended. These include expiry of the KYC token, accreditation level, risk profile, jurisdictional compliance rules etc. The possibilities are endless to essentially tokenize compliance on a per entity.
As such more services can also be powered by partners. Abachi core will also provide integrations with third party services so e.g. if you do not have a KYC provider, you can use the Abachi service to tap into BlockPass and others. Any relevant data stays with the front-end partner, a tokenized proof of that data is tokenized and shared.
# Becoming an Accreditor Node
Any partner working within the Abachi ecosystem can apply to become an accreditor. To ensure the actor is not malicious and is vested in the protocol, they provide a stake to join the accreditor pool.\
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Once this is done, the partner can then issue business DID and certificates along with tokenized form of Compliance via KYC/AML tokens. \
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This will allow any wallet that has this token to be used across the ecosystem without sharing any data. The NFT / Token that represents the KYC can be tracked back the accreditor.\
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Accreditor nodes also provide the service of providing trust and compliance knowledge between various partners. Each node in the system will need to stake to provide a proof of stake to the system and thwart any malicious activity.\
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A way to think about accreditor nodes is akin to on-chain KYC providers.
# On-Ramp for Partners
Solving the on-ramp for partners without getting into depository issues is a problem we wish to solve. Below is a proposed approach, as we build this out it will be refined.\
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There are also alternative approaches to this which we are exploring including completely API banking via neo / digital only banks.\
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We are using **FTX** api as a **reference** here. **We are in no way affiliated with FTX** and we took this approach because:
* *The LUCA Plus team is **currently working on** integrating the FTX pay APIs for in app payments and crypto deposits. Instead of using a smart wallet, it uses the wallet generated on FTX. This is still in a proof of concept phase and we have also considered opennodes and coinbase merchant APIs.*
* The account segregation while using the FTX apis is much better.
* FTX has KYC status updates on their API which we may be able to leverage.
* On-chain (eth) deposits and withdrawals are cheapest.
However the below can also be accomplished by any other CEX or on-ramp e.g. Binance, Bitfinex etc.
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To the end user this entire transaction will be denominated in ABI for any transaction fees or use of the protocol and the dollar value or crypto amounts they are using. All transactions land on the main abachi smart contract which then routed them appropriately and charges a small fee. (Think stripe or paypal but using a smart contract).
# Real-World Bonds
Abachi's mission is to enable real-world bonds for small-to-medium enterprises so they can address their short-term liquidity needs.
This requires a lot of work and has been broken into phases. Please see below to understand how this will eventually work. **Abachi is a multi-year and multi-phase ambitious project.** \
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Abachi will also need to work with various jurisdictions to see how these can be offered but it will start by looking into the Singapore and Australia markets via fully accredited front-end partners.\
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The technology and use of the protocol will be licensed in ABI.\
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**Phase 1:**
In the initial phase Abachi will launch with the simple DeFi three pool structure.\
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1\. Stable Earn Pools: These pools power lending and borrowing on accredited pools, users will be able to pool their money in these pools and earn ABI as an incentive. The pool is then used to power borrowing needed across the ecosystem.
* Accredited stable pools (wallet must have been approved before)
* Decentralised non-accredited pools
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2\. Centralised Borrowers: Accredited pools will power all centralised lending and borrowing for our partners. An accredited business can deposit USD or AUD into a pool which is accredited (launched by a known partner, [read how](/abachi-core/what-is-abachi-core/accreditation-and-kyc/becoming-an-accreditor-node)). The pool can be shared across various other accredited front-ends that allow their own KYC/Accredited users to borrow or lend. Abachi SDK will make it simple to launch these pools and provide a Web app to manage them. This money can now be used to provide credit svcs to real-world. In this case the partner would need to acquire any required licensing for regulations or KYC/AML. They are incentivized to do this via ABI rewards and they are charged a fee per transaction.\
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3\. Reserve & Insurance Fund: Funds from the stable coin pools will also be used to keep some funds in deposit as insurance or reserve. This is to ensure that if the staked ABI is not able to cover the cost of any malicious attempt to the system, there is another pool that can be used to cover. This includes any coverage we need for smart contract code also.\
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**Phase 2:**
In the second phase, we hope to bring all the pools we launched in the traditional DeFi three pool strategy to all be powered by the underlying tech.\
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1\. Bond issuers will need to stake ABI into a smart contract. These are denotes as **reserve bonds**. These act as a guarantee against any issues originating from a given issuer and ensures no malicious bonds enter the system. Where the protocol or governance deems a breach of this, the reserve bonds are withheld by Abachi. Both staked and unstaked ABI can be used for these bonds.\
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2\. Tokenized credit pools & Bonds. Once the issuer / partner has staked the required bonds, they will then have access to both a Web UI and underlying contracts (by adding their address to allow-list). They can use this to issue 1:1 bonds, tokenize credit pools and launch those pools, or even bring in third party real-world assets in via other services e.g. centrifuge to offer into the markets.
3\. Abachi will launch a market for accredited partners that have gone through the compliance needed to be able to trade these bonds, nft credit obligations etc. [Read on how Abachi Handles compliance across partners](/abachi-core/what-is-abachi-core/accreditation-and-kyc).
# Audits
Abachi plans to have every piece of code it uses audited. \
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1\. Initial discord sale contract for aABI was conducted by Paladin Sec
2\. KYC checks were performed by RugDoc
Abachi has also engaged Paladin Sec to Audit its **staking & minting code** which has been forked from Olympus DAO with some key **fundamental changes**.\
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Abachi also plans to retain Paladin Sec on an ongoing basis after the first audit reports come out as mentioned above.
# Abachi Treasury Use
Abachi will keep treasuries in different multi-sig safes and add signers from within the community who are well reputed and deeply vested in the project. Currently we plan on keeping on treasuries on gnosis safes.\
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Abachi may at a future time decide to change the proposed use of these treasuries however these decisions will be made with snapshot voting with 100% community visibility.\
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**pABI**\
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Limited number of pABI tokens have been sold. These will provide a secondary treasury to bootstrap while the protocol is being launched and mechanics fine tuned. ([read more](broken://pages/VkXIlyaaRor96XHQNggp)).\
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**aABI** \
All funds raised from the aABI sale will land into the main Abachi treasury. \
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The treasury will be used as proposed below:
1. 10% of the treasury will be allocated into an insurance funds which will buy insurance for the various core services and lending pools in use. This includes Nexus Mutual or real-world insurers. (This is in addition to the reserve shown in [phase 1](/abachi-core/real-world-bonds) of lending pools)
2. 10% of the treasury will be allocated into a marketing & compliance fund. The core purpose of Abachi is to also educate and help with compliance for its products and services.
3. 50% of the treasury is controlled by governance and paid back to stakers in the form of new ABI or via reduction of supply by buy backs and burns. This is also the pool used to incentive core services (see core services). Main treasury also performs the rebalance and provides minimum viable price when the overall price of ABI falls below [RFV](/abi/intrinsic-value-and-treasury).
4. 30% of the treasury is used to fund partnerships, acquisitions and projects that will help grow the Abachi core services. This includes any in-house projects.
# Contract Addresses
## **Token Contract Addresses:**
**ABI on ETH Mainnet:** [0xBF0B8b7475EdB32D103001Efd19FdD2753d7B76D](https://etherscan.io/token/0xbf0b8b7475edb32d103001efd19fdd2753d7b76d)
**ABI on Arbitrum:** [0xB827710314A05BCBeE9180E11c2abE5823289422](https://arbiscan.io/token/0xb827710314a05bcbee9180e11c2abe5823289422)
## Treasury Multi-sig
**ETH Mainnet:** [0x6fce4c6cdd8c4e6c7486553d09bdd9aee61cf095](https://etherscan.io/address/0x6fce4c6cdd8c4e6c7486553d09bdd9aee61cf095)
DeBank: [abachi.eth](https://debank.com/profile/0x6fce4c6cdd8c4e6c7486553d09bdd9aee61cf095)
## Official Liquidity Pools:
### ETH Mainnet
**ABI/WETH :**
### Arbitrum
**ABI/wstETH:**
# Staking
Abachi follows the same staking structure as utilized by Olympus with some key differences.\
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1\. Abachi has a maximum supply of **10 million**.
2\. Abachi does not have any intrinsic value, the value is derived from the utility of the token and the staking treasury works as a backup mechanism to ensue the token does not go below a price where its viable to use it.
3\. Staking does not give any direct governance rights.
4\. Stakers enjoy a passive return when ABI is burnt and removed from circulation.
5\. Staking provides Abachi a mechanism to own its own liquidity without relying on others in the market to provide this. This discourages those who will pull liquidity out when rewards are low thus causing pool imbalance. Abachi core services rely on liquidity pools and will be able to generate on demand ones as needed. [Liquidity](/abachi-staking/staking/liquidity)
# Liquidity
Liquidity is often swept under the rug, and many people devalue the importance of it. At a high level, liquidity facilitates markets, allowing users to trade between two tokens. This is often seen in DeFi in AMMs (automatic market markers).
To incentivize liquidity, protocols reward those who do with their native token. However that attracts mercenary capital that farms incentives and leaves as soon as a new farm pops up.
To mitigate this, we have partnered with Timeless Finance and utilized Bunni Pro platform for liquidity aggregation & incentivization.
In order to earn a passive yield on your ABI, you can provide liquidity on Ethereum Mainnet and Arbitrum through Bunni Pro.
More details can be found in the following article:\
# Traditional DAOs vs Abachi
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It is important to understand that Abachi is **not** a DAO when it will launch. Governance of Abachi is not dependent on the number of tokens you hold. While we are committed to moving Abachi to a completely decentralised and DAO structure, this will happen in the future when legislations around DAOs are clearly defined. \
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Please read on our governance section on how we plan to do it, also read the disclaimer to understand the risks and issues related to this. Once the staking contract is launched the governance will move to a DAO with treasuries also moved to multiple signers.\
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Here are some important considerations to keep in mind:
1. ABI is a **utility token which powers all core services**, and the staking mechanism only provides a minimum viable price backing for the token. It does this by utilising a portion of its current treasury to buy back and burn the token removing it from circulation. As the price of the token fluctuates, the supply of the token will also fluctuate based on **demand** and the need from core services.
2. Governance of the protocol and community contributors will have a say in protocol decisions and we will be publishing everything in an open and transparent way. Read more about governance [here](/abachi-governance/overview). When Abachi does indeed move to a decentralized autonomous organizational structure we may make changes to governance however this should not be assumed.
3. Abachi token itself carries no value. The value of the token is created as more services are added and use the token. This drives a burn and buyback mechanism. The second way the protocol tries to keep itself healthy to grow is to acquire OHM as much as possible to bootstrap its treasury. We strongly believe OHM is that asset. This is no different than any other protocol keeping their treasury in their own native coin. e.g. Ethereum Foundation keeps a healthy portion in ETH and Block.One acquried bitcoin for its treasury.
4. As inflation increases throughout the protocol with staking rewards, the protocol will try to balance its staking rewards and may bring them down. There will only ever be a maximum of 10 million ABI tokens that can be minted.
5. **APY** on staking calculations in Abachi are based on current circulating ABI, number of stakers & RFV.
1. If the number of people staking goes down, the protocol will increase its staking rewards to incentivize more people to stake.
2. If the price falls below the [RFV](/abi/intrinsic-value-and-treasury) the protocol will try and maximise to increase the treasury holdings to lend ABI a minimum viable price support. It does this by acquiring more OHM and discounting stable coin minting of ABI (bonds).
3. The backing price of ABI has **absolutely no bearing** on market price of ABI as the protocol will never go back and buy ABI from the market. The treasury is utilised as outlined in our [treasury ](/abachi-staking/abachi-treasury-use)section.
6. Abachi uses the open source Olympus DAO code and technology to let users deposit and mint new tokens, and also stake them. It does not use all the calculations Olympus currently uses to maintain its BCV, RFV and Backing.
# Total Supply & Emissions
**Total Supply: 1 million**
A total of 1 million ABI can ever be minted. Although the full supply has been minted, however a large portion of the supply is non-circulating and resides in the Abachi Treasury.
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**Emissions vs Burn vs Total Supply**
In our proposal we have 10% of the treasury used to buy back and burn ABI in circulation. This rewards stakers into the system and secures the longer term viability of the system. It also rewards our lending pools, partners and other core services that rely on ABI to function.\
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100% of partner revenue profits will be used to **buy and burn** the ABI token. This may change slightly once the DAO meets for its policy meeting, there is discussion to reduce partner profits to 90% when buying back.
# Intrinsic Value & Treasury
The ABI token itself **holds no intrinsic value**. The protocol does work to ensure the token has a minimum viable value to be useful.
ABI is a utility token and as part of its utility the treasury needs to ensure that ABI holds enough liquidity to allow cross chain transactions, lending pools, accreditation issuing and other services to function. Please see how the treasury is [**utilised**](/abachi-staking/abachi-treasury-use).\
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The mechanics may be changed in the future as we research and build out the protocol.
# ABI Use Cases
ABI is used throughout the ABACHI protocol. Keep in mind that \
Abachi is two pieces:\
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1\. Staking
2\. Core services. \
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ABI provides a token to incentivize and use the services offered by Abachi core. As it **does not have an intrinsic value**, it derives a value based on the OHM it holds and how **useful** the core services are. \
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As proposed 100% of the fees generated by the core services will buy back and burn the token supply further incentivizing users to provide these services.
1. **Security & Decentralization**\
ABI provides security to the entire protocol by aligning those who have a higher stake in the system to have a much more role in day to day function of the protocol. It does this by ensuring that those who want to be a part of the governance can lock their tokens for a longer term. The protocol rewards them for this via passive emissions (see emissions section) and via rebasing. Locked ABI cannot be removed until the lock expires. This adds to decentralisation to the protocol and is key to ensure the protocol changes and core services are always aligned with the goals Abachi wants to achieve.
2. **Lending Pools**\
Abachi will launch accredited lending pools for borrowers and lenders. Currently in the DeFi space most protocols incentivise these pools to attract liquidity. This incentive will also be paid by Abachi via ABI. The DAO will vote and decide on the emissions for these.
1. Discourage pool hoppers to try and leech yields based on rates only and provide liquidity for a longer term.
2. Bootstrap enough liquidity to ensure lending and borrowing can function correctly without any slippage.
3. Allow longer term actors in the ecosystem to acquire ABI to be able to launch these lending pools as a stake.
3. **Multi Wallet Smart Chains** \
One of the core services Abachi will launch first is the smart wallet product. This product allows users to pay invoices, bills, and any other payment via front-end partners using a simple click to pay. To make this as seamless as possible the wallets are directly integrated into the end-users apps. Abachi handles any network fee or transaction fee on the backend by automatically converting ABI to the local network being used. \
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e.g. If a user with a smart wallet has their digital assets on Polygon and wants to make a payment to another user who is using Ethereum. The smart wallet will calculate the $ amount the payee needs to make. In the backend it will automatically convert ABI to the local fee for transaction (on-chain) so that to the user it will appear as a single transaction. This way Abachi allows interaction between multiple chains & protocols.
4. **ENS & Other business transactions**\
We understand that to bring business transactions on-chain, the user experience needs to be simplified considerably. A user of the Abachi core services will always denominate in $ amount for any service. e.g. ENS business registrations. Each transaction is sent back via the SDK to the relevant chain it belongs to. Partners only need to hold ABI in their treasuries, making their use much simpler. Any fees for using these services will be deducted automatically from the ABI they hold. They can also hold sABI and the partner pool for paying these fees will automatically rebase also.
5. **Minting new tokens & Staking**\
Since Abachi is an open source protocol and aims to increase transparency as much as possible, there are two treasuries that the protocol manages. Money raised in pABI sales go towards the initial setup of the protocol and these have been kept **very low** on purpose. \
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Sales of aABI tokens go directly into the main treasury allowing people to stake their token to earn staking rewards or mint new tokens by depositing assets. The function of the Abachi treasury is to help it grow. As demand for the token grows, the treasury grows and can expand the system as much. The growth of the protocol is directly related to how well the main treasury is doing. Read more about treasury and use of those funds [here](/abachi-staking/abachi-treasury-use).\
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Staking provides three core functions:\
\- Increase liquidity ([read more here](/abachi-staking/staking/liquidity))\
\- Provide minimal value to function ([read more here](/abi/intrinsic-value-and-treasury))\
\- Provide insurance and compliance services to the protocol ([read more here](/abachi-staking/abachi-treasury-use))\
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Staking is designed to be based on the rebase model and will provide early adopters with much higher rewards.
# Disclaimer
#### GENERAL INFORMATION
The Abachi token ABI (from here on referred to as ABI) does not have the legal qualification of a security, since it does not give any rights to dividends or interests.
The present White Paper is not and cannot be considered as a prospectus nor as an offering of securities in any foreign jurisdiction. The purchaser of ABI is aware that national securities laws, which ensure that investors are sold investments that include all the proper disclosures and are subject to regulatory scrutiny for the investor’s protection, are not applicable. It is the sole and exclusive responsibility of anyone willing to purchase ABI to carefully observe the law, rules and regulations that apply in relation to the sale of ABI in her/his/its/their domicile/place of incorporation.
Anyone purchasing ABI expressly acknowledges and represents that she/he/it/them has carefully reviewed these documents and fully understands the risks, costs and benefits associated with the purchase of ABI. The sale of ABI is final and non-refundable.
#### KNOWLEDGE REQUIRED
The purchaser of ABI undertakes that she/he/it/them understands and has significant experience of cryptocurrencies, blockchain technology and services. She/he/it/them fully understands the risks associated with the coin offering or auction (hereinafter referred to as “ICO”) as well as the mechanism related to the use of cryptocurrencies (incl. storage).
The purchaser of ABI is responsible to take all reasonable and appropriate measures to secure her/his/its/their wallet or means used to purchase ABI and to receive/store ABI. Abachi shall not be responsible and hereby excludes any and all liability for any issues related to the access to the purchased ABI or security breaches relating to the receipt, possession, storage, transfer or use of ABI, which lead to the loss of the purchased ABI. Neither Abachi, nor its subsidiaries, agents, employees or representatives shall be liable for events such as hacking, theft, fraud, cyber-attack, which result in a loss of the purchased ABI.
#### RISKS
Acquiring and storing ABI involves various risks, in particular (but not limited) the risk that Abachi may not be able to provide all planned services and related operations or is forced (in particular due to change in the legal environment and/or issuance of new law or regulations) to stop its operations or change its business model.
Therefore, and prior to acquiring ABI, any interested person should carefully consider the risks, costs and benefits of acquiring ABI in the context of the Private Sale and, if necessary, obtain any independent advice in this regard. Any interested person who is not in the position to accept or to understand the risks associated with Abachi's activities or any other risks as indicated in the Terms & Conditions of the Sale should not acquire ABI.
#### IMPORTANT DISCLAIMER
This White Paper, Pitch Deck & Docs shall not and cannot be considered as an advice nor a recommendation or an invitation to purchase, hold or sell ABI. In particular, it is not intended to provide and must not be deemed as advice on whether to purchase ABI. The White Paper, Pitch Deck & Docs does not include nor contain any information or indication that might be considered as a recommendation or that might be used to base any investment decision.
This White Paper, Pitch Deck & Docs does not constitute or relate in any way nor should be considered as an offering of securities in any jurisdiction (see General Information here above). It does not constitute an offer or an invitation to sell shares, securities or rights belonging to Abachi or any subsidiary or other related company. The ABI is a utility token, which can be used only in relation to Abachi core services. It is not intended to be used as an investment.
The purpose of the Private Sale is to develop its network through a community of future ABI users. After the sale, purchasers of ABI will have the possibility to use the ABI for fee discounts in relation to Abachi core services (see core services section). The offering of ABI relates exclusively to Abachi's above-mentioned activities and planned use of the ABI and does not have speculative purposes.
Abachi is not to be considered as an advisor in any legal, tax or financial matters. Any information in the White Paper, Pitch Deck & Docs is given for general information purpose only and Abachi does not provide with any warranty as to the accuracy and completeness of this information now or in the future. The information set out in this document may be subject to amendments, updating, revision, completion and verification. Given the lack of crypto-token qualifications in most countries, any person undertaking to acquire ABI is strongly advised to carry out a legal and tax analysis concerning the purchase and ownership of ABI according to her/his nationality and/or her/his/it place of residence or incorporation.
The purchase of ABI during the private sale will require the positive conclusion of a Know Your Customer (KYC) identification process.
The ABI confers no direct or indirect right to Abachi's capital or income, nor does it confer any governance rights within Abachi (incl. its subsidiaries); the ABI is no proof of ownership or a right of control over Abachi and does not grant the purchaser any asset or share in Abachi (incl. its subsidiaries). The ABI does not grant to the purchaser any right of control or governance over Abachi's management or decision-making set-up (incl. its subsidiaries).
Regulatory authorities are carefully scrutinizing businesses and operations associated with cryptocurrencies in the world. In that respect, regulatory measures, investigations or actions may impact Abachi as well as the Subsidiary’s business and even limit or prevent it from continuing to carry out and develop its operations. Any person undertaking to acquire ABI must be aware that Abachi's (incl. the Subsidiary) business model, the White Paper, Pitch Deck & Docs or the Terms & Conditions of the Sale may change or need to be modified because of new regulatory and compliance requirements from any applicable laws in any jurisdictions. In such a case, anyone undertaking to acquire ABI acknowledges and understands that neither Abachi nor any of its subsidiaries shall be held liable for any direct or indirect loss or damage caused by such changes.
The ABI will be issued by a technical process referred to as “Blockchain”. This is an open source IT protocol over which neither Abachi nor its subsidiaries have rights or liability in terms of its development and operation. The token distribution mechanism will be controlled by a Smart Contract; this involves a computer program that can be executed on the Polygon network or on any blockchain network that is compatible with Smart Contract programming language. Any person undertaking to acquire ABI acknowledge and understand that Abachi (incl. its subsidiaries, bodies and employees) assumes no liability or responsibility for any loss or damage that would result from or relate to the incapacity to use ABI, except in case of intentional misconduct or gross negligence.
The ABI is based on the Ethereum protocol. Therefore, any malfunction, unplanned function or unexpected operation of the Ethereum protocol or the Polygon Protocol may cause the ABI to malfunction or operate in a way that is not expected. Ether, the native Ethereum protocol account unit may itself lose value in a similar way to the ABI, and also in other ways.
#### REPRESENTATIONS AND WARRANTIES
By participating in the private sale, the purchaser agrees to the above and in particular, she/he/it represents and warrants that she/he/it/them:
**•** has read carefully the T\&C & documents and agrees to their full contents and accepts to be legally bound by them;
**•** has obtained sufficient information about the Abachi Project and the planned use of the ABI to make an informed decision to participate in the Token Sale pursuant to these T\&C;
**•** is authorized and has full power to purchase ABI according to the laws that apply in his/her/its jurisdiction of domicile/place of incorporation;
**•** is not a U.S. resident or entity (a “U.S. Person”) under Rule 902 of Regulation S promulgated under the United States Securities Act of 1933, nor is she/he/it purchasing ABI or signing on behalf of a U.S. Person;
**•** lives in a jurisdiction which allows Abachi to sell the ABI through a private auction sale without requiring any local authorization and is in compliance with the local, state and national laws and regulations when purchasing, selling and/or using ABI;
**•** does not live in a jurisdiction which is qualifying token issued through an ICO as securities;
**•** is familiar with all related regulations in the specific jurisdiction in which she/he/it/they are based and that purchasing cryptographic tokens in that jurisdiction is not prohibited, restricted or subject to additional conditions of any kind;
**•** will not use the Token Sale for any illegal activity, including but not limited to money laundering and the financing terrorism;
**•** has sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens (like ETH), token storage facilities (including digital token wallets), blockchain technology and blockchain-based software systems;
**•** is solely responsible for determining whether the acquisition of ABI is appropriate for her/him/it/them;
**•** is acquiring ABI exclusively for its use in relation to Abachi's operations and is not purchasing ABI for the purpose of speculative investment;
**•** understands the risks associated with the planned Token Sale, Abachi Project and the legal environment under development;
**•** acknowledges and accepts that the Token Sale is taking place within a legal environment that is still under development.
#### GOVERNING LAW - ARBITRATION
Abachi Foundation Pty Ltd is incorporated in the Cayman Islands, while the token sales are conducted under a BVI incorporation Abachi Ltd. See our governance section for more details. However any statement made in the documents which is in the future should not be assumed will happen.
# Overview
The Abachi team is working hard behind the scenes to start putting in place policy, ux, partnerships, marketing and dev teams. Our research team is already in place. All of these positions other than a few core team members from day 1 will be filled from the community.
We are ***committed*** to move Abachi eventually into a legal DAO structure. Until a DAO is established, Abachi will be run under a for profit foundation and we will still utilise snapshot for governance decisions with transparency to the community.
**Want to be a part of the new teams? DM any of the core team, founders, mods.**
While the greatest weight of governance is given to those who lock staked ABI for 2 years in a governance contract.
# Abachi Foundation
The staking mechanism will eventually be converted into a DAO as Abachi is committed to the protocol becoming a DAO and to decentralise it in every way possible. Currently the Caymen Island Foundation structure is the most conducive to this and Abachi has **filed** in the Caymen Islands to get this processes completed. The process takes a couple of weeks to complete.
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The private token sale, discord offering and pABI sales have been conducted under a BVI private company structure (Abachi Pty Ltd) with restrictions on countries including Australia and United States. We will be working on moving this structure into the Foundation structure mentioned above.\
\
While Abachi uses the same mechanism as Olympus DAO to bootstrap its treasury, there are key differences that need to be taken into consideration as the ABI uses it as an efficient system to reward stakers.\
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Abachi will also be setting up a foundation in Singapore. The foundation in Singapore will be a private limited for profit that will develop and license out the technology we build. We may at a later stage introduce a funding round for the Singapore entity which will be completely unrelated to the Abachi protocol or DAO and **only** handle real-world integrations.
# Community Contributors
Abachi strongly believes that for any foundation to succeed it needs to pull in talent from the community. This talent will be working on our open source software and will be included in any governance proposals regardless of their holdings.
# LUCA Plus
LUCA Plus was seeded and founded by one of the Abachi founders and has a very strong commitment to the whole crypto space. \
\
**LUCA Plus in Numbers:**\
\
1\. **20-40** new small to medium businesses are onboarded on LUCA Plus each month, who are using Xero, MYOB, QuickBooks or the LUCA Plus invoicing solutions.
2\. LUCA Plus integrated via API to these solutions has access to payables and receivables, but also live feeds. It uses this for account automation, invoice delivery and payment confirmations. It currently uses an in-house build federated quorum chain to provide on-chain audits.
**LUCA Plus in News:**
1. [**2020 Australian Fintech Finalist for Digital Currencies & Wallets**](https://blog.lucaplus.com/2020/10/13/fintech-start-up-once-again-champions-australian-innovation/)
2. [**LUCA Plus winner of 1st Price in HSBC/ALIBABA Global Competition (200k in award & 5m in investment)**](https://blog.lucaplus.com/2020/07/01/aussie-startup-blitzes-field-in-global-pitch-competition/)
3. [**Member of AUSTRADE (Government Body) with 5 other companies.**](https://blog.lucaplus.com/2020/10/15/luca-plus-represents-australia-in-global-blockchain-bootcamp/)
4. [**Finalist Digital Accountancy 2019**](https://blog.lucaplus.com/2019/10/07/the-8th-digital-accountancy-forum-and-awards-2019/)
5. [**LUCA Plus partners up with Australian Tax Office**](https://blog.lucaplus.com/2020/07/03/luca-teams-up-with-ato-to-help-drive-the-education-on-e-invoicing/)
6. [**EY Foundry & Incubation**](https://blog.lucaplus.com/2019/11/07/block-ledger-wins-more-than-entry-to-ey-foundry/)\
\
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Here is a quick video of what the current experience looks like including why we think in-app experiences will take over and are the best way to onboard TradFi:
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**Below is a 3rd Party longer video featuring LUCA PLUS by MYOB & ATO**\
{% embed url="" %}
# Privacy Policy
Abachi.io is committed to providing quality services to you and this policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.
### What is Personal Information and why do we collect it?
Personal Information is information or an opinion that identifies an individual. Examples of Personal Information we collect include: names, addresses, email addresses, phone and facsimile numbers.
This Personal Information is obtained in many ways including via our website , and from third parties. We don’t guarantee website links or policy of authorised third parties.
We collect your Personal Information for the primary purpose of providing our services to you, providing information to our clients and marketing. We may also use your Personal Information for secondary purposes closely related to the primary purpose, in circumstances where you would reasonably expect such use or disclosure. You may unsubscribe from our mailing/marketing lists at any time by contacting us in writing.
When we collect Personal Information, we will, where appropriate and where possible, explain to you why we are collecting the information and how we plan to use it.
### Sensitive Information
Sensitive information is defined in the Privacy Act to include information or opinion about such things as an individual's racial or ethnic origin, political opinions, membership of a political association, religious or philosophical beliefs, membership of a trade union or other professional body, criminal record or health information.
Sensitive information will be used by us only:
• For the primary purpose for which it was obtained
• For a secondary purpose that is directly related to the primary purpose
• With your consent; or where required or authorised by law.
### Third Parties
Where reasonable and practicable to do so, we will collect your Personal Information only from you. However, in some circumstances we may be provided with information by third parties. In such a case we will take reasonable steps to ensure that you are made aware of the information provided to us by the third party.
### Disclosure of Personal Information
Your Personal Information may be disclosed in a number of circumstances including the following:
• Third parties where you consent to the use or disclosure; and
• Where required or authorised by law.
### Security of Personal Information
Your Personal Information is stored in a manner that reasonably protects it from misuse and loss and from unauthorized access, modification or disclosure.
When your Personal Information is no longer needed for the purpose for which it was obtained, we will take reasonable steps to destroy or permanently de-identify your Personal Information. However, most of the Personal Information is or will be stored in client files which will be kept by us for a minimum of 7 years.
### Access to your Personal Information
You may access the Personal Information we hold about you and to update and/or correct it, subject to certain exceptions. If you wish to access your Personal Information, please contact us in writing.
Abachi.io will not charge any fee for your access request, but may charge an administrative fee for providing a copy of your Personal Information.
In order to protect your Personal Information, we may require identification from you before releasing the requested information.
### Maintaining the Quality of your Personal Information
It is an important to us that your Personal Information is up to date. We will take reasonable steps to make sure that your Personal Information is accurate, complete and up-to-date. If you find that the information we have is not up to date or is inaccurate, please advise us as soon as practicable so we can update our records and ensure we can continue to provide quality services to you.
### Policy Updates
This Policy may change from time to time and is available on our website.
### Privacy Policy Complaints and Enquiries
If you have any queries or complaints about our Privacy Policy, please contact us at:
Abachi.io
# Terms of Service
Please read these terms of service ("terms of service", "terms") carefully before using abachi.io website (“website”, "service") operated by Abachi.io ("us", 'we", "our").
**Conditions of use**
By using this website, you certify that you have read and reviewed this Agreement and that you agree to comply with its terms. If you do not want to be bound by the terms of this Agreement, you are advised to leave the website accordingly. Abachi.io only grants use and access of this website, its products, and its services to those who have accepted its terms.
**Privacy policy**
Before you continue using our website, we advise you to read our privacy policy regarding our user data collection. It will help you better understand our practices.
**Age restriction**
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You grant Abachi.io a royalty-free and non-exclusive license to display, use, copy, transmit, and broadcast the content you upload and publish. For issues regarding intellectual property claims, you should contact the company in order to come to an agreement.
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As a user of this website, you may be asked to register with us and provide private information. You are responsible for ensuring the accuracy of this information, and you are responsible for maintaining the safety and security of your identifying information. You are also responsible for all activities that occur under your account or password.
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We reserve all rights to terminate accounts, edit or remove content and cancel orders in their sole discretion.
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By visiting this website, you agree that the laws of Caymean Islands, without regard to principles of conflict laws, will govern these terms and conditions, or any dispute of any sort that might come between Abachi.io and you, or its business partners and associates.
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Abachi.io is not liable for any damages that may occur to you as a result of your misuse of our website.
Abachi.io reserves the right to edit, modify, and change this Agreement any time. We shall let our users know of these changes through electronic mail. This Agreement is an understanding between Abachi.io and the user, and this supersedes and replaces all prior agreements regarding the use of this website.