The AMA consists of two parts:
Part 1: Introduction of guests and projects
Part 2: Live question (choose 5 questions)
Segment 1: Introduction of guests and projects
- Bell | Gate.io (Host): Today our guest is: Sean Kim — CEO Acent. Can you briefly introduce yourself and Acent?
Sean Kim — CEO Acent: Hello everyone!
I am glad to have such an excellent audience. Let me introduce myself briefly: I am Sean Kim, Founder/CEO of Acent, and have been in more than five years of experience in the blockchain field.
In Acent, we have developed many Web3.0 blockchain-based technology and products with the vision of establishing a token economy that combines blockchain-based Web3.0 Acent Browser and token to fuel its user-centric web services. It also serves as Web3.0 gateway to AAA-rated games and high-performance web services.
If you’ve ever done a little research on Acent, you’ll see that we are close to launching a public alpha test version of an Unreal Engine 5 based web service. It is the closest thing you can think of to a “Ready-Player-One” style immersive web service. We call this the #metaweb and define it as the immersive, decentralized, gamified infrastructure layer 1 network for social media and entertainment content interaction.
We have established the following criteria for a network to fall within the category of a #metaweb service for users to enjoy its benefits while guaranteeing their safety:
Sean Kim — CEO Acent: Done! That’s all I want to briefly introduce about Acent.
2. Bell | Gate.io (Host): Thanks, Powered by Acent, so what kind of metaverse is Your Earth DAO exactly?
Sean Kim — CEO Acent: This is the question that I and many of you are probably looking forward to. Your Earth DAO metaverse is the product that we are focusing the most resources on.
To implement the metaweb concept, we launched our most recent project, Your Earth DAO metaverse (YED). Your Earth DAO is an open-world decentralized metaverse within the #metaweb which Acent has defined it as a new immersive gamified internet service. With unprecedented modern technologies applied to a metaverse, YED provides participants (who are called meta-citizens) with an immersive experience within it like what one can encounter in popular entertainment products like “Ready Player One” or “The Sims” with high-end AR/VR graphics.What’s most unique is that Your Earth DAO provides tools to help developers and users publish meta-apps that are full-scale apps, high-end games, and other unique services. Supported by the DAO governance system, a free economy will be created with unlimited ideas from the community, forming the basis for a new generation of internet economy.
I’m also about to come here with a pretty interesting video footage from Your Earth DAO: https://twitter.com/Acent_tech/status/1542777525755121664?s=20&t=6SbutjEiJMlUvV7YLrttUQ
3. Bell | Gate.io (Host): With an open world metaverse like Your Earth DAO, the land is certainly a vital resource, so what role does land play in Your Earth DAO? And how can users benefit from your metaverse?
Sean Kim — CEO Acent: Yes, Land NFT will be an extremely important but limited resource in our metaverse, we call it Land Spot in the smallest unit.
There will be events that encourage first-adopters to enter our YED world, one of them will be the introduction of limited Acent city land spot sales. Acent city land is unique because it allows the owners to mine EDAO tokens. EDAO tokens gives you the power to receive ecosystem earnings along with governance benefits. We are planning the first Acent city Land Spot NFTs sales event on August 9th. As this is imminent it is best to stay tuned to our social media channels.
Besides the benefits of EDAO mining, many activities in Your Earth DAO require a land spot to proceed, such as: Mine in-app meta-resources and energy, land renting, build businesses, develop meta real estate and more. It is easy to understand since this is an open-space metaverse and land is an important resource. That’s why we always encourage passionate users to own Land Spot NFT early and come up with ideas to jointly build prosperous areas and share benefits.
For business models and revenue streams, Your Earth DAO’s creative freelance economic model will create a lot of revenue stream scenarios for participants. So, I want to summarize it by dividing it into the following 2 infographics.
Business Revenue Models.
Meta-Citizen Revenue Models.
Sean Kim — CEO Acent: Many earning ways, right?
4. Bell | Gate.io (Host): We know that Your Earth DAO has a governance system with the new EDAO token. Can you explain this system and how users obtain EDAO?
Sean Kim — CEO Acent: Absolutely! In summary, EDAO is the governance/revenue share token of Your Earth DAO. In addition to the right to propose and vote, EDAO also lets you earn $ACE incentives from the UBI wallet and the ecosystem incubation fund.
To explain the above 2 “treasures”, in order to foster the growth of the metaweb and push its adoption, a maximum of 15% of the Acent ($ACE) cryptocurrency, or approximately 300 million $ACE, is allocated to the Metaweb Incubation Fund. The Metaweb Incubation Fund is a community incubation fund that aims to reward the Acent pledgers who own EDAO tokens. And Universal Basic Income (UBI) is a pool to store fees collected from YED and will be redistributed to many objects as described in the following chart.
For meta-citizens, to obtain EDAO and exploit the above sustainable benefit funds, in addition to owning a Land Spot NFT as above question, you can also participate in the Acent Pledging program, mortgage your $ACE and get EDAO back as well with an attractive $ACE interest rate attached. For in the first year, you can earn an attractive ACE interest rate of 13%, not including a non-fixed bonus from UBI.
Sean Kim — CEO Acent: I’m also excited to announce that an Acent Pledging season is underway and you can join immediately to get your first EDAO tokens and possibly a chance to win very valuable NFTs. Details can be found at: I’m also excited to announce that an Acent Pledging season is underway and you can join immediately to get your first EDAO tokens and possibly a chance to win very valuable NFTs. Details can be found at: https://doc.yourearth.io/pledge-your-ace-and-earn-edao-tokens/
5. Bell | Gate.io (Host): As a pioneering blockchain technology company in the field of web3, Acent has developed a lot of technologies for its ecosystem. What I pay attention to here is the Acent Mainnet. So what capabilities does Acent mainnet offer compared to other blockchains to help operate Your Earth DAO?
Sean Kim — CEO Acent: Okay, the last question is an interesting technical question.
In the process of learning about the technical requirements for building a full-scale metaverse, we realized that building the metaverse on the Ethereum mainnet (Layer 1) would most likely address security but not scalability due to its low throughput of only 17 transactions per second (TPS), potentially resulting in extremely high gas fees.
As a result, we has created a new solution to run the Your Earth DAO metaverse was proposed: a first-layer protocol built on the Acent blockchain that would address all inefficiencies in existing metaverses. The Acent blockchain technology will provide the following capabilities to the Your Earth DAO metaverse:
Full compatibility with decentralized applications from other chains: this allows users and developers to import Ethereum-based decentralized applications (dApps) into YED.
- Lower fees: Because Nitro fees of Acent, which are similar to gas fees in Ethereum, are relatively inexpensive in Layer 1 solutions.
Fewer validators equate to faster transactions: Acent’s Proof of Staked Authority consensus mechanism validates the chain coming in the blocks with only a few validators but is very stable and fast.
Here is the result of Acent POSA with 4 validators is 45 TPS or 0.02 seconds per transaction.
- Reduces scalability issues: Acent blockchain is able to process NFT and crypto exchanges at a higher but stable 400–500 on-chain transactions per second (TPS) and 300,000 digital transactions per second (DTPS).
- Promotes Decentralized Autonomous Organization (DAO).Protects NFT digital assets from hacks.
We also have prepared an infographic for audience to describe other complementary technologies that will contribute to Your Earth DAO’s technological advantage.
Segment 2: Live questions
- First question: Hello, Most popular BROWSERS use Ads revenue generation model and MONETISE user INFORMATION without their permission. Does your browser has ad-blocker and are users in charge of their browser data or history? Do you also make profit from ads? @Evettemacon
We have developed Acent Browser as a web3.0 blockchain-only browser that understands the blockchain language well and is designed to be most compatible with blockchain. It has excellent ad-blocking performance and never collect users data without mission.
We also have Liberty Meta Search Engine that is a 100% open-source search engine that promotes freedom of speech. Users can earn income by opting in to view reward based ads. Liberty ads can also be integrated on other platforms related to Acent such as Your Earth DAO.
You can download and experience Osiris Browser at: https://browseosiris.com/
- Second question: IMPORTANT QUESTION ? Audit is important for both trust and security. Have you done any audit of smart contract? @eloy_stockton_1994
One of the key criteria in our products is the balance between performance and security. Currently, our project is being audited by CertiK: https://www.certik.com/projects/acent.We choose CertiK because they are the pioneer in blockchain security, utilizing best-in-class Formal Verification and AI technology to secure and monitor blockchains, smart contracts, and Web3 apps.
Completing an audit with Certik will ensure the safety and security of our platform and uncover other product improvement issues and security threats. We developed our own technologies and products to help increase the level of security for the platform and for the users.
- Third Question: How are ACE tokens used in Your Earth DAO? And how can you ensure for the investors that holding this token is more beneficial for long-term? @nhattran227
First, as ethereum is the base currency on the ethereum blockchain, Acent is the base currency used as cash and required for all transactions on the metaweb. You will need it to deploy dapps, meta-apps, pay for nitro(gas in Ethereum), therefore it is the first currency for the metaweb.
Secondly, There are many ACE pledging (similar to staking) programs that will encourage users to accumulate and lock up their ACE tokens to receive rewards from our products. For example, pledging ACE for Your Earth DAP will give back pledgers EDAO, NFTs and other valuable rewards.
Thirdly, There are buy back mechanisms and partial burn mechanisms for ACE tokens we collect from service charges and on-chain transaction fees inside Your Earth DAO.
- Fourth Question: When is your mainnet launch ? what top priorities are on your roadmap for now? @Eunatidwell44
Qur Acent mainnet deployment is expected to take place in Q3 of this year. We are still perfecting it to the fullest extent to be able to meet the high requirements of Your Earth DAO.
One of our top priorities is completing OPEN WORLD STAGE of Your Earth DAO. Then user can virtually walk and wander around the 4D virtual spaces and environment that are beautifully rendered via VR technology or other compatible applications.
You can check out our full road map here: https://doc.acent.tech/whitepaper/#acent-roadmap-2-0
- The last question: During these days, be a Multi-chain platform is an obligation to be considered a competitive project, so can you explain who how many chains are you able to support? @FriedaVickery45
Although we develop and own our own mainnet — Acent Blockchain with many leading advantages. Compatibility and coexistence with today’s major blockchains is extremely important, necessary and brings convenience to users. Currently Acent is 100% compatible with Ethereum developer environment tools and in our roadmap, we plan to integrate the following networks into Acent Metawallet:
> Q1–2023: Acent Metawallet Matic Native support
> Q3-Q4.2023: Acent Metawallet Solana & Polkadot Mainnet Integration
- Acent Homepage: https://acent.tech
- Acent Official Twitter: https://twitter.com/Acent_tech
- Acent Official Telegram: https://t.me/AcentOfficialChat
- Your Earth DAO Homepage: https://yourearth.io
- Your Earth DAO Discord: https://discord.com/invite/et2fZJWGge
- Whitepaper 2.0: https://doc.yourearth.io/whitepaper
