BME Testnet Overview

What is BME?

The Burn-Mint Equilibrium (BME) is a new economic mechanism for the Akash Network that introduces a stable compute credit token called ACT (Akash Compute Token). ACT is designed to be pegged to ~$1 USD, providing stable pricing for cloud deployments while AKT remains the staking and governance token.

Key changes with BME:

• Deployments are now priced and paid in ACT (not AKT)
• Users mint ACT by depositing AKT into the vault
• Providers receive ACT for compute, then burn ACT to receive AKT
• A circuit breaker protects the system during extreme market conditions

Testnet Participation

Prize Eligibility

To be eligible for prizes, testers must submit proof of testing for each completed test:

Example proof for a mint operation:

# Transaction hash from mint
akash tx bme mint-act 10000000uakt --from mywallet -y
# Output: {"txhash":"ABC123..."}

# Query showing ACT received
akash query bank balances <your-address>

Submission Form

Submit your completed tests and proof here:

https://forms.gle/6q7uiSN8j7WTe3p8A

Network Details

Full network configuration (RPC endpoints, chain ID, genesis, etc.) is available at:

https://github.com/akash-network/net

Quick Reference

Test Guidance

Detailed test steps, expected results, and validation procedures are available here:

BME Testnet Test Plan

Getting Started

1. Set Up Your Environment

# Configure for testnet-8
export AKASH_CHAIN_ID=testnet-8
export AKASH_NODE=https://testnetrpc.akashnet.net:443
export AKASH_KEYRING_BACKEND=test
export AKASH_GAS=auto
export AKASH_GAS_ADJUSTMENT=1.5
export AKASH_GAS_PRICES=0.025uakt

2. Get Testnet Tokens

Obtain testnet AKT from the faucet: https://faucet.dev.akash.pub/

3. Mint ACT (Required Before Deploying)

# Mint ACT from AKT
akash tx bme mint-act 10000000uakt --from <wallet> -y

# Wait ~1 minute for epoch processing
sleep 60

# Verify ACT in your balance
akash query bank balances <your-address>

4. Create a Deployment

# Ensure your SDL uses uact for pricing
# Example: denom: uact (not uakt)

# Create deployment with ACT deposit
akash tx deployment create deploy.yml --deposit 5000000uact --from <wallet> -y

Key BME Commands

Query Commands

# Check BME system status
akash query bme status

# Check vault state
akash query bme vault-state

# Check BME parameters
akash query bme params

# Check your token balances
akash query bank balances <your-address>

# Check oracle prices
akash query oracle prices

Transaction Commands

# Mint ACT from AKT
akash tx bme mint-act <amount>uakt --from <wallet> -y

# Burn ACT to receive AKT
akash tx bme burn-act <amount>uact --from <wallet> -y

# Create deployment (with ACT)
akash tx deployment create <sdl-file> --deposit <amount>uact --from <wallet> -y

# Top up deployment escrow
akash tx escrow deposit deployment <amount>uact --dseq <dseq> --from <wallet> -y

# Close deployment
akash tx deployment close --dseq <dseq> --from <wallet> -y

Important Notes for Testers

1. Epoch Delays: ACT minting is epoch-based (~1 minute / 10 blocks). After mint-act, wait before checking your balance.

2. SDL Changes: Your SDL files must use uact for pricing, not uakt:

   profiles:
     compute:
       myservice:
         resources:
           # ...
     placement:
       myplacement:
         pricing:
           myservice:
             denom: uact    # <-- Must be uact, not uakt
             amount: 1000

3. Provider Settlement: Providers receive ACT from deployments, then call burn-act to convert to AKT. This is a two-step process.

4. Circuit Breaker: If BME status shows mint_status_halt_cr, minting new ACT is temporarily blocked. Existing ACT can still be used for deployments.

5. Document Everything: For prize eligibility, capture full command outputs including transaction hashes and query results.

Troubleshooting

”ACT not appearing after mint”

Wait for epoch (~1 minute), then query again. ACT minting is not instant.

”denom not supported: uact” from provider

The provider’s pricing script needs to be updated to support ACT. Report to testnet admins.

”insufficient funds” when deploying

Ensure you have ACT (not just AKT). Run akash query bank balances <address> to check.

BME status shows “halt_oracle” or “halt_cr”

The system is in a protected state. Check akash query bme status for details. During halt_cr, you cannot mint new ACT but can still use existing ACT.

Resources

• Network Config: https://github.com/akash-network/net
• Test Guide: BME Testnet Test Plan
• Prize Submission: https://forms.gle/6q7uiSN8j7WTe3p8A
• Discord: Join the Akash Network Discord for support

Questions?

For testnet support, reach out in the Akash Network Discord or open an issue in the appropriate GitHub repository.