diff --git a/library/template/.gitignore b/account/template/.gitignore
similarity index 100%
rename from library/template/.gitignore
rename to account/template/.gitignore
diff --git a/account/template/Cargo.toml b/account/template/Cargo.toml
new file mode 100644
index 0000000..9a2123a
--- /dev/null
+++ b/account/template/Cargo.toml
@@ -0,0 +1,26 @@
+[package]
+name = "{{crate_name}}"
+version = "0.1.0"
+edition = "2021"
+
+[lib]
+# Build this crate as a self-contained, C-style dynamic library
+# This is required to emit the proper Wasm module type
+crate-type = ["cdylib"]
+
+[dependencies]
+# Miden SDK consists of a Prelude (intrinsic functions for VM opr, stdlib) and transaction kernel API for the Miden rollup
+miden-sdk = { git = "https://github.com/0xPolygonMiden/compiler", rev = "10a05d8fa76106325e2497c2d1b10f1042c77340" }
+# Use a tiny allocator in place of the default one, if we want
+# to make use of types in the `alloc` crate, e.g. String. We
+# don't need that now, but its good information to have in hand.
+wee_alloc = { version = "0.4.5", default-features = false}
+
+[profile.release]
+# optimize the output for size
+opt-level = "z"
+# Explicitly disable panic infrastructure on Wasm, as
+# there is no proper support for them anyway, and it
+# ensures that panics do not pull in a bunch of standard
+# library code unintentionally
+panic = "abort"
diff --git a/library/template/README.md b/account/template/README.md
similarity index 60%
rename from library/template/README.md
rename to account/template/README.md
index 97cc88a..26b01d4 100644
--- a/library/template/README.md
+++ b/account/template/README.md
@@ -4,7 +4,7 @@
 
 `{{crate_name}}` is built using the [Miden compiler](https://github.com/0xPolygonMiden/compiler).  
 
-`cargo miden` is a `cargo` cargo extension. Check out its [documentation](https://github.com/0xPolygonMiden/compiler/cargo-ext)
+`cargo miden` is a `cargo` cargo extension. Check out its [documentation](https://github.com/0xPolygonMiden/compiler/tree/main/tools/cargo-miden)
 for more details.
 
 
@@ -13,5 +13,7 @@ for more details.
 To build this project, run:
 
 ```bash
-cargo miden compile -o ./target/{{crate_name}}.masm
+cargo miden build --release
 ```
+
+The compiled Miden artifact will be located in `target/miden/release`.
diff --git a/library/template/cargo-generate.toml b/account/template/cargo-generate.toml
similarity index 100%
rename from library/template/cargo-generate.toml
rename to account/template/cargo-generate.toml
diff --git a/account/template/rust-toolchain.toml b/account/template/rust-toolchain.toml
new file mode 100644
index 0000000..bc008c9
--- /dev/null
+++ b/account/template/rust-toolchain.toml
@@ -0,0 +1,5 @@
+[toolchain]
+channel = "nightly-2024-03-10"
+components = ["rustfmt", "rust-src"]
+targets = ["wasm32-wasi"]
+profile = "minimal"
diff --git a/account/template/src/lib.rs b/account/template/src/lib.rs
new file mode 100644
index 0000000..1e6fb8c
--- /dev/null
+++ b/account/template/src/lib.rs
@@ -0,0 +1,40 @@
+// Do not link against libstd (i.e. anything defined in `std::`)
+#![no_std]
+
+// However, we could still use some standard library types while
+// remaining no-std compatible, if we uncommented the following lines:
+//
+// extern crate alloc;
+// use alloc::vec::Vec;
+
+// Global allocator to use heap memory in no-std environment
+#[global_allocator]
+static ALLOC: wee_alloc::WeeAlloc = wee_alloc::WeeAlloc::INIT;
+
+// Required for no-std crates
+#[panic_handler]
+fn my_panic(_info: &core::panic::PanicInfo) -> ! {
+    loop {}
+}
+
+use miden_sdk::*;
+
+// Marking the function no_mangle ensures that it is exported
+// from the compiled binary as `fib`, otherwise it would have
+// a mangled name that has no stable form.
+//
+// You can specify a different name from the library than the
+// name in the source code using the `#[export_name = "foo"]`
+// attribute, which will make the function callable as `foo`
+// externally (in this example)
+#[no_mangle]
+pub fn fib(n: u32) -> Felt {
+    let mut a = felt!(0);
+    let mut b = felt!(1);
+    for _ in 0..n {
+        let c = a + b;
+        a = b;
+        b = c;
+    }
+    a
+}
diff --git a/library/template/Cargo.toml b/library/template/Cargo.toml
deleted file mode 100644
index 83cdca7..0000000
--- a/library/template/Cargo.toml
+++ /dev/null
@@ -1,10 +0,0 @@
-[package]
-name = "{{crate_name}}"
-version = "0.1.0"
-edition = "2021"
-
-[lib]
-crate-type = ["cdylib"]
-
-[profile.release]
-opt-level = "z"
diff --git a/library/template/src/lib.rs b/library/template/src/lib.rs
deleted file mode 100644
index 09afd8b..0000000
--- a/library/template/src/lib.rs
+++ /dev/null
@@ -1,11 +0,0 @@
-#![no_std]
-
-#[panic_handler]
-fn my_panic(_info: &core::panic::PanicInfo) -> ! {
-    loop {}
-}
-
-#[no_mangle]
-pub fn some_func(n: u32) -> u32 {
-    n / 3
-}