Pledge your $ACE and Earn EDAO tokens! (This event has ended)

Published in

Acent

9 min readJul 20, 2022

This article seeks to explain the benefits of earning EDAO tokens from pledging Acent ($ACE) including a quick and easy guide to acquire them and their incentives via pledging.

In Brief

Acent ($ACE) is the cryptocurrency of the Metaweb and the Acent blockchain — Pledging 1 $ACE provides 1 EDAO compensation token per year. On top of that, there are additional $ACE incentives from the UBI pool and the Metaweb Incubation Fund.
EDAO token incentives are more than just governance tokens — Other than the voting power and the privilege to submit proposals in the DAO, pledging EDAO tokens allows you to mine $ACE by supporting the metaweb ecosystem for a more decentralized web service.
Free NFTs — Complimentary NFTs will be given to everyone who joins the pledging event with a minimum amount until the month of September.
All pledging will be done on the DAPPX platform — Pledging starts from July 21, 2022 at 12pm (Thursday) Central Daylight Standard Time (CDT).
Minimum pledge is 3,000 $ACE.
Connect your Acent metawallet to the DAPPX platform to start pledging!

If you want to know more about the benefits of Acent pledging incentives, read below.

Pledging Incentives and Benefits

Collect Ecosystem Contribution Compensation

When you pledge a minimum of 3,000 $ACE you automatically earn EDAO tokens — an ARC-20 governance and utility token in the YED metaverse. Every $ACE pledged gets you one EDAO compensation token per year, calibrated per minute. As an EDAO token holder, you are entitled to receive contribution compensation from the entire ecosystem fee collected in the Universal Basic Income (UBI) pool and the Metaweb Incubation Fund, plus other NFT benefits.

By pledging your EDAO tokens, you will earn incentives from the Metaweb Incubation Fund limited to a 6-year period, as well as permanent $ACE profits from the UBI pool as long as you pledge your EDAO tokens. It is expected that as more people avail of the EDAO incentives, the greater the anticipated increase in the $ACE value.

2. Participate in Metaweb Governance

With EDAO tokens, you may participate in the key governance voting system of the YED. If you want to know more about EDAO tokens and how they empower users through governance, read the sub-chapter on Decentralized Autonomous Organization (DAO) of the Acent Whitepaper 2.0.

3. Trading EDAO Tokens at a Market Price

EDAO tokens are designed to be tradable on the Acent DEX. Availability of this feature to the public will be announced later in the community updates.

4. Get Free NFTs

Anyone who pledged the minimum amount required to receive a complimentary NFT will receive it.

For this pledging event, a limited edition 1 jetpack NFT will be given to people who pledge 50,000 $ACE or more — minted and effective only until the month of September 2022. With a jetpack, you will be able to hover and fly within the YED metaspace. The details regarding the timing of the implementation of the jetpack and many other functional NFTs will be released separately.

How Do I Get EDAO Tokens?

During the first years of the Your Earth DAO project, EDAO tokens can only be acquired initially through:

Acent ($ACE) Pledging

$ACE cryptocurrency holders would have the opportunity to participate in the Acent Pledging program starting July 21, 2022 at 12pm (Thursday) Central Daylight Standard Time (CDT) to earn EDAO tokens.

You can get an $ACE token by buying USDT first and exchanging it for $ACE at any of these platforms: Kucoin and Gate.io. Then transfer your $ACE from your account made in these exchanges to your Acent metawallet address to start pledging.

Below is the estimated maximum incentive for pledging $ACE:

Estimated maximum rewards from Acent pledging

Basically, 1 $ACE pledge will grant the pledger an equivalent of 1 EDAO token per year. With EDAO tokens, pledgers can mine more $ACE. The more EDAO tokens users pledge, the more $ACE they can mine from the UBI pool. Please keep in mind that a minimum of 3,000 $ACE is required to join the pledging pool and the withdrawal feature will be delivered in September 2022 according to our roadmap.

Suppose meta-citizen A pledged 50,000 $ACE. Under certain periods and market conditions, it gained him 6.27% of $ACE plus the UBI compensation and the appreciation of the $ACE currency as more people joined the metaweb.

On the other hand, Meta-citizen B, who pledged 2,000,000 $ACE within the same period and market condition as Meta-citizen A, got the full 13% maximum earnings plus UBI and $ACE appreciation on top of it.

**Hypothetical comparison of rewards based on their pledged $ACE tokens.**

Be advised that with all pledging or staking on any platform or blockchain, true yield earnings may vary depending on one or more of the following factors:

pledged amount,
market conditions,
cryptocurrency supply and demand,
number of pledgers,
lock-up period, and
DAO proposals for readjustments.

2. Purchasing a YED Spot of Land

YED land has unique benefits that include those of pledging. Purchasing a spot of land entitles the NFT landowners to mine EDAO tokens, which can be pledged to earn more incentives.

Land is available in a limited supply. For more details about how to obtain YED land and the land distribution schedules, check our social media pages below this article for the NFT land minting event of YED.

Initially, no sales of any kind for EDAO tokens will be available in the market unless a holder decides to sell them. After the total numbers of EDAO are distributed and exhausted, there will be no more public issuance of EDAO. This means that users will have to acquire them in the future at their market value on the Acent DEX.

Below is a step-by-step guide on how to pledge your $ACE and EDAO tokens on the DAPPX platform:

ACENT Pledging Guide

Step 1. Launch the Acent (Osiris) Web 3.0 browser, or download and install it from https://browseosiris.com/. This will enable you to open an Acent metawallet. The icon can be found in the upper right corner of the Acent (Osiris) browser address bar.

**Acent metawallet offers fast and seamless crypto transactions.**

Step 2. Connect the Acent metawallet to the DAPPX profile to verify the user. Click “Sign” below Signature Request. It will prompt you to the user dashboard, where you will see your token balances.

**Signature verification via DAPPX and Acent metawallet**

Step 3. On your dashboard, click on Acent. It will show your $ACE balances in the vault and active $ACE. Below your Active $ACE are the Pledge, Unpledge, and Transfer buttons. Click “Pledge.”

**Acent pledging button within the DAPPX platform**

Step 4. Click the “Metaweb Governance Pledge” that entitles the users to earn EDAO tokens.

**Metaweb Governance Pledge allows users to earn EDAO tokens**

Step 5. Enter the number of $ACE tokens you want to pledge. After inputting the value, tick the small box, and then click “Continue”. On the succeeding interface, click “Submit”.

**Field for pledging a certain amount of $ACE**

Take note that there’s a certain amount of $ACE that is required to pay for the protocol fees (i.e., a maximum of 3%), which is recycled back into the UBI and Acent Core Ecosystem Dev Fund in the following distribution:

1.5% goes to the UBI pool; and
1.5 % goes to the Core Ecosystem Development Fund

You have now successfully pledged your $ACE. See the instructional video below for the complete process for pledging $ACE.

Acent pledgers may unpledge their $ACE tokens at any time. Take note that there is a penalty for unpledging before 144 hours. The amount of penalty and length of time may vary in the future depending on the agreed decisions of the meta-citizens enforced through the EDAO governance.

How to Earn From the UBI Pool by Pledging EDAO?

Step 2. Connect the Acent metawallet to the DAPPX profile to verify the user. It will prompt you to the user dashboard, where you will see your token balances.

Step 3. On your dashboard, click on Governance/UBI Earnings. It will show your EDAO balances in the vault and active EDAOs. Below your Active EDAO are the Pledge and Unpledge buttons. Click “Pledge.”

**User interface after clicking the Governance/UBI Earning**

Step 4. Enter the number of EDAO tokens you want to pledge. After inputting the value, tick the small box, and then click “Continue”. On the succeeding interface, click “Submit”.

You have now successfully pledged your EDAO tokens. See the instructional video below for the complete process.

**Complete process for pledging EDAO tokens**

EDAO pledgers may unpledge their EDAO tokens at any time. Take note that there is a penalty for unpledging before 144 hours. When users unpledged, they will be charged 6% for the unpledging fee. This will be distributed as follows:

3% goes to the UBI pool; and
3% goes to the Core Ecosystem Development Fund.

As mentioned above, the amount of penalty and length of time may vary in the future depending on the agreed decisions of the meta-citizens enforced through the EDAO governance.

How to Check the Balance for Earned UBI Compensation?

ACE Gov Pledging
EDAO earnings from the current pledge are reflected in the Current EDAO Balance and Active EDAO of the account. Both are visible within the Governance/UBI Earning page.

Accumulated earnings are shown in Total EDAO Earned and are visible within the Governance Pledge section of the Acent page.

EDAO Gov Pledging
$ACE earnings from the current pledge are reflected in the Current ACE Balance and Active ACE of the account. Both can be found on the Acent page.

Accumulated earnings are shown in Total ACE Earned through ACE pledging is visible within the Governance Pledge section of the Governance/UBI Earning page.

Conclusion

Your Earth DAO is the realization of Acent’s vision to implement the ideal form of an open source parallel reality for an immersive gamified web service experience. Through the EDAO tokens, the YED is able to implement its mission to distribute fair compensation for network supporters and ensure a transparent DAO governance system that can nowhere be found in traditional web services.

As discussed above, pledging $ACE provides many tangible benefits. But the one that the Acent team and the whole YED community might value the most is how the EDAO compensation tokens would enable every member of the YED ecosystem to be involved in building a fully decentralized live-to-earn (L2E) platform that can eventually run on its own.