[ENG] AMA Recap: Metaweb Discussion with Bang Pateng Community x Acent’s Your Earth DAO
AMA Recap: Metaweb Discussion with Bang Pateng Community x Acent’s Your Earth DAO
On June 24, 2022, ACENT’s founder, Sean Kim, participated in an Ask-Me-Anything (AMA) interview with Bang Pateng Community. The event gave him the opportunity to answer some interesting questions that enabled him to present the newest web service called the “metaweb”, including its fair distribution of incentives, its transparent and decentralized governance, and how Your Earth DAO intends to deliver all these things to make the metaweb a reality.
- SESI 1. Project Introduction
- SESI 2. Twitter Question
- SESI 3. Telegram Question
SESI 1 (Poject Introduction)
Q1: Please introduce yourself and tell us a bit about your background?
Sean Kim: 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 5 years of experience in the blockchain field. I am also DECENTERNET ASSOCIATION Hong Kong Founder and the creator of the web3.0 blockchain-based Acent Browser.
I have many years of experience in the IT field and have provided many blockchain and cloud mining technology solutions with many related patents. During that time, I have been exposed to and realized many outstanding problems that blockchain technology can solve, and realized the potential and future of a decentralized internet world. That’s why I decided to establish Acent as a Web3.0 blockchain-based technology company.
Q2: I see your team has come up with a novel concept called #metaweb, what is #metaweb in a nutshell?
Sean Kim: Interesting grasp! #metaweb is a concept that I really want to introduce to the community.
During the development of the internet & cryptocurrency world, we realized the need for a new immersive, captivating web infrastructure that can enforce essential benefits of Web3 such as transparent distributed governance policy systems is imminent.
Accordingly, we are defining the term “metaweb” as the immersive, decentralized, gamified infrastructure layer 1 network for social media and entertainment content interaction. As per the aforementioned factors, the following criteria must be met for a network to fall within the category of a metaweb service for users to enjoy its benefits while guaranteeing their safety, there are some certain standards:
- must have a DAO (Decentralized Autonomous Organization) based governance where the ability to propose and vote on major policies and feature enhancements should be enforced by a publicly verifiable blockchain;
- must be able to render high-end graphical features such as hyper-realistic graphics, AR, and VR support to allow metasites and meta-applications to be rendered and experienced with immersion;
- has a unique metaweb domain name system support such as MRL that is recognizable, searchable, connectable, reachable, and teleportable through a web 3.0 browser-based product
- must allow deployment of 3D object-based websites called meta-sites in a public meta-space where people can interact, connect with each other, perform social media interactions, and engage in business activities;
- must be capable of supporting enticing real-time dynamic activity-based play-to-earn (P2E) applications that reward users’ efforts in developing good competitive multiplayer skills and strategies rather than roll-the-dice style deterministic, simulated NFT ownership microgames of algorithmic games of chance.
- developer tool agnosticism must be guaranteed and not be limited within the parameters of expression provided by a centralized product developer authority.
- must have a public space for everyone to meet, connect, and interact henceforth defined as a metaspace.
In addition, there are some other criteria that we will fully introduce to you at: https://doc.acent.tech/whitepaper/#what-is-the-metaweb-and-why-do-we-need-it
Q3: Please introduce Your Earth DAO metaverse (what I know is powered by Acent). What kind of special experiences does it provide?
Sean Kim: I guess everyone here has a special interest in interesting metaverse products and NFTs.
To realize the concept of metaweb in the previous question, we are currently finishing the development of Your Earth DAO — an Opensource Decentralized Metaverse that is designed to be the ideal form of what I call an immersive gamified web.
We define it as “One Perfect Life — Platform Service” that provides #LivetoEarn experience because It is designed to allow the publishing and development of businesses and high-performance applications within a public meta-space of the actual size of our Planet.
Using ACENT as the base currency, new jobs and economies are created by compensating users based on the amount of traffic they attract. This may be easy to understand as it has the same compensation logic as past web applications such as Youtube or Facebook. An easier way of visualizing this is to imagine a Ready-Player-One style web service.
Realize that with the advent of a new breed of consumers seeking instant emotional gratification through short compelling visual cues and the proliferation/evolution of AV/VR technologies I think a much more exciting innovative way of experiencing the web should become a reality.
About the most special thing about Your Earth, we have knew that the current metaverse products do not offer anything compelling for the consumer because of their technical limitations. So far, there’s nothing significant that you can do with these products except, walk around and play minigames. Your Earth DAO’s are designed to change that. It is capable of allowing anyone to develop, submit and publish what we call “meta-apps”.
Meta-apps are defined as full-scale applications such as high-end games, CDN (Content Delivery Network), or Social media platforms within the Your Earth DAO thanks to our unique architecture which allows 3rd party developers to publish ACENT meta-apps with powerful tools such as Unity and Unreal Engine.
I also have a cool infographic here to briefly show you how Your Earth DAO will be able to change the metaverse game
Q4: Can you give an overview of the Acent & Your Earth DAO Tokenomics?
Sean Kim: If you are interested, we recently launched a new tokenomics model for Acent and YED with the participation of new EDAO governance tokens.
To provide a strong financial support structure for Your Earth DAO (YED) as the first Layer 1 metaweb ecosystem through the Acent blockchain and to allow rigorous monetization of the creative activity of the YED community, an innovative Acent tokenomics reflecting the best practices of the first-gen metaverse projects is implemented.
In the Your Earth DAO, all assets and meta-app creation tools are accessible by third parties. This is to encourage the YED community and developers to build their own immersive, hyper-realistic play-to-earn games, tools, and apps and share their experiences on the YED metaweb.
For a fully functional and sustainable tokenomics, YED pools the 3% service charge of all services or meta-app provided within the YED ecosystem in addition to the 91% of all on-chain transaction fees (or so-called Nitro fees) of the Acent mainnet. These are used to:
develop the core metaweb ecosystem:
- develop the core metaweb ecosystem;
- compensate the EDAO governance token holders, including landowners;
- deploy a self-sufficient, robust, decentralized immersive web service.
ACENT Metaweb Earnings Distribution Model
EDAO tokens are ARC-20 governance and ecosystem revenue share tokens in the YED metaverse. Holders of EDAO tokens will be able to claim privileges and rewards in the following ways:
- pledging EDAO to receive revenue share rewards from the entire ecosystem fee collected in the UBI pool;
- trading on the Acent DEX; and
- participating in the key governance voting system of the YED
For further detailed information and how to obtain EDAO token, you can visit or whitepaper https://doc.acent.tech/whitepaper/#acent-metaweb-tokenomics-overview
Q5: What are Acent’s plans for the near future of YED? Are there any interesting things that we need to grasp quickly?
Sean Kim: The development of Your Earth DAO according to our vision will be massive and divided into several stages. Currently our team is trying to provide the first impressive YED experience to users as soon as possible. There will be events that encourage first-adopters to enter our YED world, one of them will be the introduction of YED’s land spot NFTs to the community in this Q3. I think you should not miss this information on Acent’s media channel: https://twitter.com/Acent_tech
There are some key points about our YED Land spot NFTs:
- A total of 10, 000 parcels of YED land will be made available to the public during the first sales event. Each parcel of YED land is ARC-20 built on the Acent blockchain.
- The YED will also create unique land areas with special benefits and rewards, such as Acent City. This is the only place in the YED territories where you can mine digital electricity (called the ZEP).
- Mines EDAO tokens and participate the metaverse governance: When users own land, they can mine EDAO tokens that enable them to participate in the metaverse governance through voting or submitting DAO proposals. The mined EDAO will also earn ACE from the UBI pool as long as they stake their EDAO tokens.
- Users can exchange and own NFT lands, mine multiple kinds of tradable resources through Pylon NFTs & ZEP on your lands.
- Constructs buildings & properties, starts businesses and provides various services/apps/games within the metaverse (even to the real life).
- Monetizes by foot traffic of your NFT lands, creating & selling unique NFTs, and charge service/meta-app fee from your business
SESI 2 (Twitter Question)
Q1: What are the strengths that ACENT has to ensure that it will scale quickly? What is your approach? How will users benefit from your approach?
Sean Kim: Our strong point is that Acent develop and own ourselves a comprehensive technology platform and ecosystem, this will allow Acent and the products in the ecosystem to scale quickly while ensuring long-term sustainability. Currently, we have many products in our ecosystem:
- Web 3.0 Acent Browser: Acent Browser is a blockchain-only browser that understands the blockchain language well and is designed to be most compatible with blockchain.
- ACENT Mainnet: Acent Mainnet is a unique blockchain algorithm network designed to co-exist with major blockchain networks. By building the Acent network, we provide various solutions to the problems of current blockchain networks, provide improved functions to build a virtuous cycle ecosystem.
- Metawallet: Metawallet is an Acent Browser built-in multi-wallet that supports crypto-related activities in a harmonious and safe manner. (payment, remittance, deposit, network compatibility, etc.)
- Liberty Meta Search Engine: 100% open-source search engine that promotes freedom of speech with top exposure of trusted internet information through a user reliability review system.
- dAppstore(DAPPX): The dAppstore(DAPPX) provides the most optimized blockchain service to users by integrating with the blockchain-friendly Acent Browser that serves all blockchain-related content.
- Your Earth DAO Metaverse: Your Earth DAO is Acent’s metaverse service that provides businesses and enthusiasts alike a ‘life business’ platform that would fuel their passion and creativity.
As you can see, because we are developing a comprehensive ecosystem, we will become the fastest and most convenient destination for crypto and blockchain users, especially those who are new. It’s also how we and our users approach each other. With YED Metaverse, we provide unique tools and experiences to our users and help them express themselves freely, and create new opportunities in your life.
Q2: What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
Sean Kim: Because Your Earth DAO is a more tangible product and is the main topic of today, it will be easier to visualize to compare with metaverse products currently on the market. As there have been many walls of text, it will be more satisfactory to have a nice infographic as an answer here:
Q3: Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term and what is your plan to increase the demand and scarcity of the token?
Sean Kim: Before giving a few thoughts on this question, I would recommend that interested people consult our whitepaper on tokenomics section at: https://doc.acent.tech/whitepaper/#acent-metaweb-tokenomics-overview
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 especially Your Earth DAO.
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 will give back pledgers 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.
Q4: Acent is built on the ERC20 network which makes it difficult for a lot of users to access Acent because of the expensive and slow network fees. So, does Acent plan to run on other chains like BSC, SOL or PlatON network?
Sean Kim: In fact, only the current ACE token is based on the Ethereum blockchain because of its high compatibility and strong network. The orientation of products in the Acent ecosystem is based on our own blockchain — Acent mainnet. Migration to Acent mainnet will be made easy once we ensure the stability, responsiveness and security of the Acent network.
Q5: Many games today set high costs to start the game & therefore start with a small player base. Does “Acent_tech” require an entrance fee or starting conditions & if so, what are they? Do I need to hold an NFT or hold a certain amount of tokens in order to enjoy & play the game?”
Sean Kim: I think you are referring to the entrance fee of Your Earth DAO, Your Earth DAO is actually an open world, you can imagine it’s very close to “Ready Player One” style. Although ACE will be the basic token of the economy in Your Earth DAO, we are expected to ask no or very little fee to be able to join this world at the start.
But since there will be a lot of interesting economic activities and services inside Your Earth DAO provided by other users, of course to experience them you have to pay in ACE tokens. In addition, you will likely realize business and profit opportunities, which is when NFTs will play an important role in your entrepreneurial journey within Your Earth DAO.
SESI 3 (Telegram Question)
Q1. Can they visit our LAND. If so, what are the benefits for us? And one more, LAND in YED divided by how many specifications?
Sean Kim: Sure, Your Earth DAO is an open world so you can go to any land and vice versa, people and friends can also visit your land and buildings. That’s what we call foot traffic. In terms of benefits, if you have a land spot with high traffic, you can completely rent it out for a reasonable price.
The monthly average user (MAU) is the parameter by which the YED algorithm will compute the foot traffic a spot of land attracts in a month. This determines statistically how much minimum rent you can charge from anyone who wants to do business on your land in case you choose to just rent it out.
Below is a provisional range of G-Level Status based on the MAU:
- G0 Level — 0 ~ 900 MAU
- G1 Level — 901~1800 MAU
- G2 Level — 1801 ~ 2700 MAU
- G3 Level — 2501~ 3600 MAU
- G4 Level — 3601~ 4500 MAU
- G5 Level — 4501 ~ 5400 MAU
- G6 Level — 5401 ~ 6,300 MAU
- G7-G9 Level — Undefined as of now
Q2. How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?
Sean Kim: We’ve been developing the project for a few years and are always trying to keep up and deliver products and experiences that are at the forefront of our field. Currently our new roadmap can be checked on: https://doc.acent.tech/whitepaper/#acent-roadmap-2-0
Q3. Do token holders have the right to participate in the management of other projects? Will they be able to vote on a new decision about the project?
Sean Kim: In Your Earth DAO, there is a kind of governance token symbolized EDAO.
With EDAO, holders can exercise their voting rights on the YED platform. This includes important matters such as foundation grant attributions with regard to content or creation of several features in the YED platform, including prioritization or inclusion of some important activities in the YED roadmap. Other governance benefits of the EDAO include:
- the ability to submit proposals that could affect the governance of the YED platform; and
- the privilege of reviewing and commenting on the DAO proposals submitted by the members of the community on the YED platform.
There will be 8.1 billion total EDAO tokens available (representing the UN projection of the world’s population by 2025). This is to quantify the value of EDAO as the unit of measurement for the value of monetized creativity, self-governance, and economic power a single person can have on the metaweb. In other words, whatever EDAO is worth, it will be priced as the equivalent of how much creativity, financial potential, and political intelligence an average human being represents. Its token distribution is as follows:
Q4. IS This Your project only for elite investors, how about others with small funds, is it open to everyone?
Sean Kim: ACENT is open to any type of investor to accompany us on a very long journey to develop products. In addition to funding, we are eager to bring our products to as many users as possible. Therefore, there will be no barriers to capital for those who want to invest and experience our products, especially in Your Earth DAO.