About Beam

The Beam network, a gaming platform powered by the Merit Circle DAO, has its own native cryptocurrency called BEAM. This network serves as a hub where game developers and players can collaborate to revolutionize the gaming industry’s future. Central to this ecosystem is the Beam SDK, a versatile software development kit offering developers a range of tools to integrate blockchain elements into their games.

Role of BEAM Token

BEAM plays a crucial role in facilitating interactions within the Beam network. It serves as the native digital asset used to cover transaction costs, including the transfer of assets and all interactions with smart contracts on the network. By using BEAM, users can enjoy a seamless and immersive gaming experience.

In addition to its function as a gas token that powers the Beam network, BEAM is also at the core of the Merit Circle DAO’s governance. Established in early 2021, this decentralized autonomous organization aims to transform the gaming industry. BEAM token holders have the opportunity to actively participate in the decision-making process of this DAO, shaping its future direction and development.

Launch BEAM

On October 26th 2023, we witnessed a significant transition within the Merit Circle ecosystem, moving from the MC token to BEAM. This evolution was not sudden but came after thoughtful deliberation, marked by the adoption of proposals MIP-28 and MIP-29. These steps were taken by the DAO to more accurately reflect the evolving nature of our activities and the broader strategic direction.

From its inception in early 2021, the Merit Circle DAO has consistently focused on the gaming sector, demonstrating a robust commitment to innovation and growth. Over the years, it has successfully launched an array of products, from a dynamic NFT marketplace to a comprehensive SDK designed to assist game developers in seamlessly integrating blockchain technology into their creations, further enriching the gaming experience.

What Is the Merit Circle DAO?

Merit Circle stands as a paradigm of decentralized innovation, chiefly in the realm of web3 gaming ecosystems. It embodies a governance model that is fully decentralized, wherein its community actively participates in steering investments from the treasury into various promising gaming ventures and blockchain game development. The operational framework of Merit Circle is structured around four principal verticals:

1. Merit Circle Investments is dedicated to treasury optimization, investing in select tokens, NFTs, and yield farms with the potential for substantial returns.
2. Merit Circle Studios emerges as a crucible for new gaming projects, nurturing and incubating them from concept to launch.
3. Merit Circle Gaming is instrumental in providing a comprehensive suite of gaming libraries, tools, and educational resources, all designed to support and enrich the community of gamers and developers alike.
4. Sphere, the Merit Circle Marketplace, is an integral platform facilitating the streamlined exchange of game assets, equipped with sophisticated trading tools to enhance the player experience in the marketplace.

How Does Beam Work?

By harnessing the foundational architecture of Avalanche, Beam presents an ecosystem that excels in rapid transaction processing and minimal fees, attributes that are quintessential for the dynamic domain of play-to-earn (P2E) gaming and the extensive trade of in-game assets.

Beam operates as an archetype of an Avalanche subnet, with a dedicated cadre of validators, currently numbering eight for its mainnet. Given Beam’s recent public debut, we anticipate an expansion in the validator roster as the platform evolves and matures. Notably, while each Avalanche subnet maintains its unique validator ensemble, they are not isolated; validators from the larger Avalanche network can extend their services across subnets, positioning Beam to potentially attract top-tier validators from the broader network ecosystem.

In its nascent phase, particularly during the restricted access period for select developers, Beam employed a proof of authority (PoA) model for transaction validation, entrusting block validation to a select group known for their credibility and trustworthiness.

As Beam transitions into its public phase, it continues to utilize the PoA framework. However, looking forward, Merit Circle envisions transitioning Beam to a proof of stake (PoS) model, aligning with Avalanche’s standard block validation protocol, signifying a strategic pivot towards a more decentralized and stake-based governance structure.

Tools and DApps

As a burgeoning platform, Beam’s ecosystem is presently modest, encapsulating a select array of pivotal tools and applications. Yet, we anticipate a robust expansion in the near future as Beam gains market traction and broadens its horizons.

• The Beam AMM Swap, which stands as a decentralized exchange powered by an automated market maker system, facilitating seamless asset trades.
• The Beam LayerZero Bridge, a sophisticated bridging mechanism designed to enable the effortless transfer of tokens across Beam and alternative blockchain networks.
• The Beam Block Explorer, a comprehensive tracking tool that offers real-time insights into BEAM transactions and broader network statistics.
• Sphere, a marketplace dedicated to the trade and exchange of non-fungible tokens (NFTs), enhancing the digital collectibles ecosystem.
• BeamOS, an integrative portal that serves as a gateway to the plethora of tools and applications available on the blockchain.

These components are the bedrock upon which Beam’s growing ecosystem is founded, setting the stage for its evolution into a comprehensive and dynamic blockchain environment.

BEAM Token

The BEAM token functions as the lifeblood of the Beam blockchain, acting as the medium of exchange for transaction fees within its network. Looking ahead, as Beam transitions to a proof of stake (PoS) framework, the utility of the BEAM token will expand to include staking mechanisms. This will enable BEAM holders to allocate their tokens to preferred validator nodes, thereby earning a share of the block rewards generated.

In parallel, the Merit Circle DAO operates with its native token, MC, which plays a pivotal role in governing the organization. With the introduction of Beam, a strategic decision was made to phase MC tokens into BEAM, setting a conversion rate of 1 MC to 100 BEAM. This migration process is scheduled to remain open until October 26, 2024, after which the BEAM token will assume governance responsibilities, effectively absorbing the role previously held by MC.

BEAM made its debut on October 26, 2023, with a total issuance of nearly 63 billion tokens, of which over 44 billion are presently circulating. Designed as a supply-capped cryptocurrency, the total and maximum supply of BEAM are one and the same, underscoring a commitment to a fixed supply model that eschews additional minting, in line with the governance ethos of the Merit Circle community.

Is BEAM a Good Investment?

Merit Circle (BEAM) has swiftly emerged as a prominent player in the crypto gaming token market, despite its recent entry. With a market capitalization of approximately $378 million, BEAM has already secured a position among the top 10 gaming-related cryptocurrencies, a remarkable feat achieved within a month of its launch. This rapid ascent has captured the attention of the gaming community, and several factors suggest that BEAM may be a promising investment opportunity.

Firstly, BEAM distinguishes itself as one of the pioneering comprehensive gaming and game development platforms in the market. While established projects like Decentraland, Axie Infinity, and The Sandbox are at the forefront of the GameFi space, they are focused on single-game environments. Conversely, the Beam blockchain serves as an all-encompassing portal, hosting a wide array of games across various genres. This positions Beam as a potential leading gateway for P2E games, akin to the role Google or Amazon play in their respective domains.

Secondly, Beam is strategically positioned to capitalize on the technical and cost advantages offered by the Avalanche ecosystem. Many of the aforementioned crypto gaming platforms are built on Ethereum (ETH), a blockchain infamous for its network congestion and high gas fees. By leveraging Avalanche, Beam can potentially offer a more efficient and cost-effective gaming experience.

Lastly, Beam’s core focus on crypto gaming aligns with a sector poised for significant growth in the coming years. As the concept of the metaverse evolves and more games adopt blockchain technology as their primary hosting environment, the BEAM token is well-positioned to benefit from the overall expansion of this niche market.