What is the Beam network?

Beam is a community-driven gaming blockchain operating as an Avalanche subnet, combining the scalability, speed, and security of Avalanche with a specific focus on gaming applications. It utilizes a reputation-based consensus method known as Proof of Authority (PoA), enhanced with the Snowman protocol, where a selected group of reputable authorities validate transactions. This setup ensures high scalability and security, making Beam a powerful platform for both gamers and developers to innovate and collaborate within the gaming industry.

What utility does BEAM token have?

The BEAM token serves as the native currency of the Beam network, essential for conducting transactions and interacting with smart contracts. It functions as a Layer-1 token, validating and securing the network, and acts as the fuel for blockchain gaming activities. Additionally, BEAM is integral to governance, allowing token holders to participate in decision-making processes that shape the future of the Beam ecosystem. This includes voting on protocol upgrades, managing the DAO treasury, and coordinating incentivization strategies within the Merit Circle community.

What are BEAM tokenomics?

BEAM tokenomics are designed to support the growth and sustainability of the Beam network. The total supply of BEAM tokens was initially set with a migration from the Merit Circle token ($MC) at a 1:100 conversion ratio. The distribution includes allocations for seed sales, public sales, community incentives, team and advisors, DAO treasury, staking rewards, and retroactive rewards. Over time, adjustments have been made to ensure vesting schedules for core contributors and the burning of a significant portion of community incentives to manage supply effectively. Current distribution emphasizes a majority of tokens in circulation, with a controlled portion allocated to vesting streams and core contributors to maintain network security and incentivize ongoing development.