ACC Token

AN
Last updated 18 days ago

The Accelerator whitelist registration runs on the ACC token. 1,000 ACC tokens are burned per lightning node registration. On its own, 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.

  1. Accelerator Tokens do not stake on their own.

  2. You must hold Accelerator Tokens a minimum of 3 days before you can stake them.

  3. 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.

  4. 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.

  5. You will receive credit for every day you wait to stake, however the more often you choose to stake the more compounding will occur.

  6. 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.

  7. 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 - 50 years. Once 10 million is reached no more Accelerator Tokens will be generated.