2022 ACME Roadmap (White Paper)
Q4 2021 - Q1-4 2022
December 2021 ACME was Born on the Avalanche (AVAX) Blockchain and 110 Million Tokens were Minted. Its Burnable, Mintable C-Chain ERC20 Token.
ACME is a decentralized community-driven project with a growing and dedicated group of talented
and passionate individuals around the world. We are aligned in the vision and necessity of building a safe, secure, and
decentralized foundation capable of realizing the full potential of what DeFi Staking has to offer humanity
and the environment we depend upon. Through putting education of cryptocurrency investing safety, security, and fundamentals first, ACME is able to offer unparalleled features for a growing decentralized community:
● Safety and Security
Proof of History - Vastly improved security means vastly improved performance
Reliable and efficient rust-based programming language
Modern WebAssembly smart contracts with parallel runtime
Increased decentralization and accessibility - An ACME Token Service innovation
● Significant advancements in energy efficiency - A Avalanche innovation
Innovative contract staking to reduce the world energy stress caused from mining.
● No ICO - Completely decentralized non-security
● Fair Distribution
● No Developer/Founder Fees (Costs paid by 10% of Staking Pool Interest Earned)
● A Fixed Cap of only 110 million supply with low emissions:
We leave hyper-inflation to fiat and some IEOs. Our Coin is/will be staking pools for yield farming to add 90% per annum Liquidity, giving mitigated risks for Holders and Investors.
● Powerful Smart contracts with capabilities including, but not limited to:
a. Decentralized Finance (DeFi)
i. non Fungible Tokens
ii. Decentralized non-custodial exchanges with performance of centralized ones
iii. Erc20 compatible tokens
b. High performance gaming
c. Cross chain compatibility (including, but not limited to):
More About Avalanche & ACME Network
The purpose of this tutorial is to give a general overview of Avalanche and to serve as a starting point for new users to the Avalanche ecosystem. General knowledge of cryptocurrency is assumed, and in particular familiarity with the Ethereum ecosystem. If you don’t understand something right away, that’s OK. Search for an answer online, and if you don’t find it, ask on our Discord.
We recommend reading this document entirely before using Avalanche so that you can avoid common pitfalls and problems that new users run into. There are many facets of Avalanche, so it’s best to get a full picture of things before diving in to save yourself confusion. Also, this guide contains tips and warnings to help you avoid falling victim to scammers.
You can find a general overview of ACME Avalanche here. It will be useful in understanding similarities and differences between Avalanche and other platforms.
ACME AVAX Token and Fees
All fees on Avalanche are paid in the native token, AVAX, so you’ll need some in order to interact with the Avalanche network. You can get it through exchanges. Another way to acquire AVAX is via credit card purchase on Pangolin and you can Purchase/Swap ACME on Pagolin. Other ways are explained below.
If you use the Avalanche Bridge to transfer assets to Avalanche, you will need some AVAX to move/swap your assets. The Avalanche Bridge provides an airdrop of AVAX to users who transfer more than a certain value of assets to Avalanche. Use this AVAX to swap some of your bridged assets for AVAX so that you can pay future transaction fees.
An address can hold a balance of cryptocurrencies. A wallet controls a set of addresses. Think of an address like a lockbox, and a wallet as a key for many lockboxes. A wallet is accessible by providing a unique, secret 24 word passphrase. If you lose this passphrase, you don’t have access to your wallet, and there is no way to recover your assets! Therefore, it’s very important to safely store your wallet’s secret passphrase securely. At the same time, anyone with your passphrase can access and take all of your assets, so it’s vital to make sure nobody else knows your passphrase. It’s best practice to not have your passphrase saved on any computer.
You can access your wallet on the Avalanche Wallet website. You can follow this guide to set up a new own wallet.
You can and should use a hardware Ledger to log into your wallet. Using a hardware wallet is the most secure way of accessing your tokens because your private keys and the passphrase never leave the device.
Once you have your wallet, you may want to send your AVAX from an exchange to your wallet. See here for a guide on doing so.
Avalanche’s Primary Network consists of three different chains, as explained in the overview article linked above. To move your funds from one chain to another, you will need to make cross-chain transfers.
Most of the activity on the Avalanche network happens on various dapps (decentralized apps). To interact with them, you can use a browser extension that will connect your wallet with the dapp. Metamask is one such popular wallet extension.
By default, Metamask connects to Ethereum. To connect to Avalanche, you need to add Avalanche as a custom network.
In Metamask you can create a new account and send funds to it from your main Avalanche wallet, or import the existing Avalanche Wallet account. You can import the account either by using the secret passphrase or by exporting the C-Chain private key from the wallet (Select
Manage Keys, then
View C Chain Private Key). If you use the Ledger hardware wallet, you can use it in Metamask too. It will connect to your wallet and have the same balances/addresses as if you accessed your wallet on the wallet website.
To see your funds in Metamask (if you imported Avalanche Wallet), or to be able to send funds from the Wallet account to Metamask account, you will need to have your funds on the C-Chain. If you transferred the funds from an exchange they will usually be on the X-Chain, so you will need to a cross-chain transfer, as explained in the previous section.
You can send tokens from the Avalanche Wallet or Metamask. It is important to have in mind that all transactions are final and irreversible. If you make a mistake and send funds to an incorrect address, there is no mechanism that can revert the transaction and return the funds to you. That’s why it’s critically important to be sure that the address you’re sending the tokens to is correct and that you mean to send to an address on Avalanche and not a different network (see next section.)
Sending to Other Networks
Other networks may have address formats that are identical to the ones on Avalanche. But that doesn’t mean that you can send funds on Avalanche directly to other blockchain networks, including, for example, Ethereum or BSC (Binance Smart Chain). If you tell Avalanche to send funds to address (
0x12345), for example, it will do so on Avalanche, not another network, even if that address exists or is valid on another network. Your funds will not end up on the other network. Once the funds are sent, only the person who has the private keys that control the destination address can ever access them. If you control the destination address, you can probably be able to retrieve them by importing the private key that controls the address to Metamask. If you sent them to someone else’s address, though, you will need their cooperation, which may be difficult.
The above applies in the reverse direction, too. You cannot send funds to an Avalanche address directly from Ethereum, BSC, etc. The addresses may look the same and be accepted, but that doesn’t mean the funds will arrive in your wallet. If you want to send or receive funds from Ethereum, see the Avalanche Bridge section below.
If you’re unsure of what you’re attempting to do, or doing something for the first time, it’s best to send a small amount (‘dust’) first, to check that it arrives at the intended destination.
Besides the native token, AVAX, numerous other tokens exist on the network. Avalanche Wallet has built in support for the most popular tokens, but Metamask does not. If you acquire other tokens, they may not immediately be visible in your wallet or Metamask. You may need to add them manually, by selecting ‘Add token’ button. To add a token, you will need to know the token contract address. Do not use the search function in Metamask, it only works correctly on Ethereum.
When you add the address, the rest of the data will autofill, and your balance should be visible. You can automatically add tokens to Metamask here by pressing the Metamask icon in the
Wrapped token you want to add.
Once you have your browser extension (Metamask for example) set up, you are ready to interact with dapps on Avalanche. Most of what you will want to do, such as yield farming, requires that you have tokens other than AVAX. If you have those tokens on Ethereum (or an exchange that can send them to Ethereum), one of the cheapest and fastest ways of bringing them over is the Avalanche Bridge.
You can find a collection of video tutorials on the basic usage of the Avalanche Bridge here. Also, make sure that you go over the FAQ which answers most common questions about the bridge and highlights things to watch out for.
When you bridge over $75 or more of assets, you will also be airdropped some AVAX to help pay for initial swaps. Use those funds only to acquire additional AVAX as you will need AVAX to pay for fees on every other dapp you use! If you get stranded without enough AVAX for fees you will be unable to do anything else, so make sure you always have some AVAX in your wallet. You can swap for AVAX / ACME on Pangolin.
There is an ever-growing collection of dapps deployed on Avalanche. To find them, you can go to our official ecosystem website. You can filter the projects by selecting the tags for the areas of your interest. There is also a community-driven list of projects. (You should not consider the presence of a project on the lists above as an endorsement of the project.)
Dip in, browse, and try stuff. There are many gems in there.
As elsewhere in the cryptocurrency space, you need to be keenly aware of the dangers. All transactions are final and irreversible, and if you fall victim to a scam, nobody will be able to retrieve your funds.
It’s crucial to understand that your secret passphrase is your wallet. Whoever has access to the secret 24 word passphrase has complete and full access and control over everything in the wallet. If you give someone your passphrase, you have given them everything in it. Therefore, never give your passphrase to anyone. Do not send it anywhere. Do not type it into websites you found online or that someone sent you a link to. Best practice is to not have your passphrase saved on any computer.
The only place where you can enter the passphrase is into the official Avalanche Wallet website, and even then, make sure you’re on a secure network and that the website is the right one by typing the address
https://wallet.avax.network address yourself. Check the padlock icon in your browser to make sure your connection is secure. If you’re in doubt as to whether to enter your passphrase, don’t.
If you’re working with non-trivial amounts of tokens (in other words, money you can’t comfortably lose), we strongly advise that you use a Ledger hardware wallet to access your funds.
That stands for ‘Do your own research’. In other words, don’t just blindly trust anything you read online. Check for other sources, ask for second opinions. Be very careful and judicious with accepting news from one source.
Be especially suspicious of people contacting you in private, offering help about issues you posted about publicly. Virtually every time it happens, it’s a scammer trying to convince you to expose your passphrase, private keys or otherwise compromise your tokens.
Don’t rush into unknown projects that promise outsized returns. Any dapp you deposit your funds into has access to them. Search for the project online and see who maintains it. Check that the contracts are verified and audited. Look out for potential red flags.
Anyone can create a new token, and on Avalanche it is pretty cheap. Also, liquidity pool creation on DEXes is permissionless so anyone can create a new pair with a fake token that has the same name and token image as the real thing. To avoid that kind of scam, always select tokens from the official token lists on the DEXes, don’t use links from other places.
Explorers are websites that index and present network activity, where you can look up individual transactions, and find out more about what’s flowing through the network.
explorer.avax.network is the official network explorer maintained by Ava Labs.
Avascan is an independent explorer website, known for its slick presentation and comprehensive overview, especially interesting for viewing validators and delegators, as it shows lots of interesting information about individual network validators.
VScout is another alternative explorer for Avalanche. Among other things there you can see distribution of validators across the planet.
We offer several ways of getting support. Here are some:
- Support site
- Twitter tech support.
- Discord server (most popular and highest traffic.)
Expanding on the DYOR section above: When using any public support channel, be suspicious of anyone contacting you in private via DMs, email or similar. They may pose as admins, moderators or team members. Legitimate accounts will never contact you in DMs first! Real admins and team members will always engage publicly first, and if needed request that you contact them in direct message.
Scammers monitor public channels for people looking for help and then contact them in private offering to help. A scammer might tell you that you need to ‘sync your wallet’ or something similar and give you a link where you are supposed to enter the wallet passphrase to complete the process. They might offer an app that will solve the problem. In both cases, it’s just someone looking to steal your funds.
It bears repeating: do not give anyone your secret 24 word passphrase or your private keys!
ACME AVALANCHE Conclusion
Avalanche is a young platform, but it offers many interesting and exciting opportunities to get engaged and participate in the new frontier of blockchains. Getting started can feel daunting, but we hope this document will ease your introduction and onboarding.
If you have any questions, or doubts, need something to be cleared up, or just want to chat, please join us on our Discord server. We’d love to hear from you.
Avalanche features 3 built-in blockchains: Exchange Chain (X-Chain), Platform Chain (P-Chain), and Contract Chain (C-Chain). All 3 blockchains are validated and secured by the Primary Network. The Primary Network is a special subnet, and all members of all custom subnets must also be a member of the Primary Network by staking at least 2,000 AVAX.
A subnet, or subnetwork, is a dynamic set of validators working together to achieve consensus on the state of a set of blockchains. Each blockchain is validated by exactly one subnet. A subnet can validate many blockchains. A node may be a member of many subnets.
A subnet manages its own membership, and it may require that its constituent validators have certain properties. This is very useful, and we explore its ramifications in more depth below:
Avalanche’s subnet architecture makes regulatory compliance manageable. As mentioned above, a subnet may require validators to meet a set of requirements.
Some examples of requirements include:
- Validators must be located in a given country
- Validators must pass a KYC/AML checks
- Validators must hold a certain license
(To be abundantly clear, the above examples are just that: examples. These requirements do not apply to the Avalanche Primary Network.)
Support for Private Blockchains
You can create a subnet where only certain pre-defined validators may join and create a private subnet where the contents of the blockchains would be visible only to those validators. This is ideal for organizations interested in keeping their information private.
Separation of Concerns
In a heterogeneous network of blockchains, some validators will not want to validate certain blockchains because they simply have no interest in those blockchains. The subnet model allows validators to only concern themselves with blockchains that they care about. This reduces the burden on validators.
Different blockchain-based applications may require validators to have certain properties. Suppose there is an application that requires large amounts of RAM or CPU power. A Subnet could require that validators meet certain hardware requirements so that the application doesn’t suffer from low performance due to slow validators.
A Virtual Machine (VM) defines the application-level logic of a blockchain. In technical terms, it specifies the blockchain’s state, state transition function, transactions, and the API through which users can interact with the blockchain. Every blockchain on Avalanche is an instance of a VM.
When you write a VM, you don’t need to concern yourself with lower-level logic like networking, consensus, and the structure of the blockchain. Avalanche does this behind the scenes so you can focus on the thing you would like to build.
Think of a VM as a blueprint for a blockchain; you can use the same VM to create many blockchains, each of which follows the same ruleset but is logically independent of other blockchains.
Why Virtual Machines?
At first, blockchain networks had one Virtual Machine (VM) with a pre-defined, static set of functionality. This rigid, monolithic design limited what blockchain-based applications one could run on such networks.
People who wanted custom decentralized applications had to create their own, entirely new blockchain network from scratch. Doing so required a great deal of time and effort, offered limited security, and generally resulted in a bespoke, fragile blockchain that never got off the ground.
Ethereum made a step toward solving this problem with smart contracts. Developers didn’t need to worry about networking and consensus, but creating decentralized applications was still hard. The Ethereum VM has low performance and imposes restrictions on smart contract developers. Solidity and the other few languages for writing Ethereum smart contracts are unfamiliar to most programmers.
Avalanche VMs (AVMs) make it easy to define a blockchain-based decentralized application. Rather than new, limited languages like Solidity, developers can write VMs in Go (other languages will be supported in the future).
Creating Your Blockchain and Virtual Machine
Avalanche supports the creation of new instances of the Avalanche VM.
Avalanche also supports creating custom blockchains with virtual machines.
Exchange Chain (X-Chain)
The X-Chain acts as a decentralized platform for creating and trading digital smart assets, a representation of a real-world resource (e.g., equity, bonds) with a set of rules that govern its behavior, like “can’t be traded until tomorrow” or “can only be sent to US citizens.”
One asset traded on the X-Chain is AVAX. When you issue a transaction to a blockchain on Avalanche, you pay a fee denominated in AVAX.
Platform Chain (P-Chain)
The P-Chain is the metadata blockchain on Avalanche and coordinates validators, keeps track of active subnets, and enables the creation of new subnets. The P-Chain implements the Snowman consensus protocol.
The P-Chain API allows clients to create subnets, add validators to subnets, and create blockchains.
Contract Chain (C-Chain)
The C-Chain allows for the creation smart contracts using the C-Chain’s API.
The C-Chain is an instance of the Ethereum Virtual Machine powered by Avalanche.
ACME Avalanche Operates strictly on the Avalanche C-Chain as a Contract Token with the Intent to create a LP Staking Token that combats market swings and down market conditions
Consensus is the task of getting a group of computers to come to an agreement on a decision. Computers can reach a consensus by following a set of steps called a consensus protocol. Avalanche is a new consensus protocol that is scalable, robust, and decentralized. It has low latency and high throughput. It is energy efficient and does not require special computer hardware. It performs well in adversarial conditions and is resilient to “51% attacks.” This document explains the Avalanche consensus protocol. The whitepaper is here.