Your Level 1 Spellcasting class feature is replaced with the Arcane Alchemist feature. You begin with a number of Arcane Points equal to twice the number of level 1 spell slots on your class' feature table. These Arcane Points can be spent during a Long Rest to craft vials that enact the effect of a prepared spell from your spell list, either by consuming them for spells with range of Self or Touch, or by throwing and shattering them for spells with further ranges. These potions take the spell's casting time to throw, or administer to, yourself or another creature. They do not require concentration, nor count as casting a spell for instances such as Couterspell. For spells with a range other than Touch or Self, the user must make a ranged spell attack against the creature's AC for an unwilling target, or a DC of 10 for a willing one.
These vials can be crafted by spending two Arcane Points per the level of the spell, and expire a number of weeks equal to its level. You regain a number of Arcane Points equal to a roll your Arcane Die + your Spellcasting modifier. Your Arcane Die starts out as a d4, then goes up a level whenever you gain access to a new level of spell slot (d6 when you gain access to level 2 spells, d8 when you gain access to level 3 spells, etc.)