In this article, you’ll learn how to start using the Accelerator Token. We recommend printing this entire document so that you can reference it as you use Accelerator.
Before You Start
Before you jump into the tasks ahead, here are a few helpful things to know.
- Accelerator Token is a dapp (decentralized application) and runs within Ethereum. You must use an Ethereum wallet and Ethereum wallet software to interact with the Accelerator Token.
- It’s important to note that when you purchase ACC or ACCx, you agree to comply with our Terms.
Here’s an overview of the tasks we’ll cover in this article.
- Buying Accelerator Tokens
- Stake Accelerator Tokens
The Accelerator Token (ACC)
The Accelerator Token is a ERC20 based smart contract that runs on Ethereum. Accelerator Tokens can be sent, received, and traded on the Ethereum network.
Buy your Accelerator Tokens
We recommend you using Metamask at https://metamask.io/
First install Metamask into your browser by going to https://metamask.io/ and clicking “Get Extension” for your browser, we recommend using Google Chrome.
Next fund your new MetaMask wallet address by clicking the orange buy button.
After you have funded your MetaMask wallet with ETH from Coinbase.
You can now purchase Accelerator Tokens on the Accelerator Network website. https://accelerator.network/#exchange
Fill out the amount you wish to buy, then click confirm.
Click the Green “Submit” button on the Metamask extension popup window.
Next you must use MyEtherWallet to access your Accelerator Tokens on your account.
Go to MyEtherWallet.com and click “Send Ether & Tokens”, then click “MetaMask / Mist”, then click “Connect to MetaMask”.
Step 4 – Load tokens in your wallet.
Click the orange “Show all Tokens” button.
Then scroll down and “Click to Load” the “ACC” token.
After you click the orange “Only Show Balances” your screen should then look like this:
Stake Accelerator Tokens (3 days later)
The main feature of the Accelerator Token is its ability to stake. You will be rewarded based on how long you hold Accelerator Tokens and how many Accelerator Tokens you have. This methodology is called proof-of-stake because you are staking Accelerator Tokens by just holding on to them and then getting rewarded for that.
There are a couple of important rules you must follow before staking Accelerator Tokens.
- Accelerator Tokens do not stake on their own.
- You must hold Accelerator Tokens a minimum of 3 days before you can stake them.
- To save GAS you can wait to stake Accelerator Tokens for up to 90 days. Anything after 90 days will produce the same results as if you staked on the 90th day of holding Accelerator Tokens.
- You can continue to stake every 3 to 90 days until the Accelerator Token has reached its maximum total supply of 10 million ACC Tokens.
- You will receive credit for every day you wait to stake, however the more often you choose to stake the more compounding will occur.
- You will need to spend a small amount of Ether on GAS every time you want to Stake Accelerator Tokens. This will be approximately 20 – 80 cents USD in Ether.
- If you transfer ACC Tokens from your staking account without first staking you will lose the potential staking reward.
Step 1. – Top-up your account with Ether.
Make sure that your account holding the Accelerator Tokens has some Ether left in it to cover gas charges.
Step 2. – Stake Accelerator Tokens.
Now that your account has some Ether for GAS in it and it has been at least 3 days of holding the Accelerator Tokens, you are ready to start staking. To make sure the wallet is ready to be staked, please check with the staking calculator here: https://accelerator.network/#staking
When stake time says “0 Hours” you are ready to stake.
To stake, send any amount of Accelerator Tokens to yourself (The amount does not matter or factor into the staking, it just calls the staking function). Sending tokens is accomplished by copying your address and pasting in the “To Address” field. You must send your ACC tokens from the same wallet address to the same wallet address.
Select ACC from the dropdown
Put any amount (less than your ACC token balance) in the “Amount to Send”
[ex: 0.001] and click “Generate Transaction” and then click “Send Transaction”.
Next time you open your Ethereum wallet you will see your Accelerator Token balance has grown.
Congratulations! You have successfully staked some new Accelerator Tokens.
Here are the returns you should expect to receive.
Proof-of-stake Annual Inflation (Approximation)
|Year||ACC Inflation||Max Total Supply After|
|Starting October 6th 2017||300%||1 Million|
|Starting October 6th 2018||100%||2 Million|
|Starting October 6th 2019||50%||3 Million|
|Starting October 6th 2020||10%||10 million|
Max total supply
The max total supply of the Accelerator Token is set to 10 million. The max total supply will be reached sometime in the next 25 years. Once 10 million is reached no more Accelerator Tokens will be generated.
You might have additional questions about ACC. We compiled some frequently asked questions here: https://support.accelerator.network/?post_type=st_faq