Press Releases

Beam sets to launch staking of its new BEAMX governance token on October 21st, 2021

John Williams

Oct 20, 2021 — 2 min read

With US $2 million in funds raised, Beam is poised to launch the best-in-class confidential-DeFi ecosystem complete with DAPPs, staking, bridges, confidential price target assets and more!

Singapore, Month Date, 2021 — Beam, the leading layer-1 privacy blockchain, announces the launch of $BEAM staking and the $BEAMX governance token set to launch on October 21, 2021.

This twin release will kick off with The Beam Staking Campaign, which will distribute one Million BEAMX tokens (1% of the total token supply) as an additional incentive for early stakers, across the campaign’s 3-month duration.

Starting October 21, 2021, Beam holders will be able to put their $BEAM to work through the Beam Wallet’s dedicated DAO Core DAPP and earn staking rewards in the newly launched $BEAMX governance token. Beam Wallet is available on desktops and will also soon be available on Beam Mobile Wallets.

$BEAMX holders will be able to shape the roadmap of the BeamX DeFi ecosystem, either by voting for community-created proposals, or governance elements such as how the BeamX DAO treasury funds are expended etc. BEAMX holders will be able to influence the roadmap of the BeamX DeFi ecosystem and will be rewarded additional $BEAMX to incentivize a sustainable, fully decentralized community governance. This is in line with Beam Foundation’s vision to become fully decentralized.

The DAO Core Staking DAPP comes preinstalled on Beam Desktop Wallet, available on Windows and Mac

The Beginning of a new DeFi paradigm: Confidential-DeFi

Just as Privacy Coins (such as Monero, Zcash) changed the landscape of traditional cryptocurrencies by obscuring users’ wallet data, transaction metadata (including tx amount, tx time and the transactors’ wallet addresses), the launch of BeamX confidential-DeFi will solve prominent issues in existing DeFi such as whale wallet asset monitoring and order book front-running.

The roadmap for the BeamX confidential-DeFi suite is packed with the requisite tools needed to build a scalable, interoperable DeFi ecosystem, Notable releases include - decentralized bridges, Oracle support (in collaboration with Chainlink) and confidential-stablecoins.

"Beam staking and the launch of BeamX is a significant step forward as we make the transition to becoming a fully Decentralised Autonomous Organisation. Becoming a DAO aligns to Beam's ethos of being a truly decentralized and secure blockchain." Said Amir Aaronson, Beam Foundation COO.

Before the release of $BEAM staking on Mainnet, The Team hosted a Beamers’ roundtable call last Sunday, presenting the road map and collecting feedback from the community.

About Beam:

Beam is a layer-one maximum confidentiality & privacy-by-default blockchain based on a suite of privacy-centric technology protocols such as mimblewimble, Lelantus and Dandelion, which completely conceals the value and metadata of transactions.

About BeamX:

BeamX is a DeFi ecosystem, governance token and decentralized autonomous organization (DAO) under one umbrella. Built on the world’s most confidential blockchain, BeamX paves the way for an unparalleled confidential-DeFi infrastructure with a core focus on scalability, interoperability and fully decentralized community governance.

Name: Beam Foundation

Company name: Beam foundation

Email: info@beam.mw

Website: www.beam.mw

City: Singapore

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