BEAM (onbeam)(BEAM)

BEAM token, a standout in blockchain gaming, is a brainchild of the Merit Circle DAO. This crypto marvel thrives on the Avalanche subnet, a choice made for its swift transaction speeds and minimal fees – both crucial for gaming platforms. Beam's birth was inspired by the surging interest in play-to-earn games, with an ambition to revolutionize the blockchain gaming landscape.

The evolution of Beam has been remarkable. Initially an exclusive realm for a handful of developers, Beam later evolved into a public blockchain, enhancing its reach. A key milestone in Beam's saga was the launch of its native token, BEAM, a cornerstone for in-network transactions.

A defining moment for Beam was the transition of the Merit Circle token (MC) to the Beam token (BEAM) due to the approval of two proposals, MIP-28 and MIP-29. This strategic shift in October 2023 was aimed at better aligning the token with Beam's expanding ecosystem. The swap rate was pegged at 1 MC for 100 BEAM, offering a year-long window for this change. Users holding MC tokens still have time to complete the migration, with the deadline set for October 26, 2024.

This migration marks the beginning of a new era for the Merit Circle DAO, with over 80% of MC tokens already migrated to Beam. Many major cryptocurrency exchanges, including Binance, Crypto.com, MEXC, CoinEx, Gate.io, have supported the token swap, migrated MC balances to BEAM tokens, and enabled trading for the BEAM token (BEAM).

BEAM Price

BEAM token launched with a bang on November 4, 2023, soaring 88% by November 14. This spike in BEAM token price was fueled by new partnerships and a hackathon, marking BEAM's entry into the crypto sphere.

After a brief slowdown, typical in the volatile crypto market, BEAM price rebounded. Between November 17 and 20, BEAM market cap saw the token price fluctuate between $0.0074 and $0.0096, signaling a consolidation phase.

A significant milestone was reached on December 2, as BEAM price broke the $0.01 barrier, reflecting growing investor trust, partly due to Merit Circle Treasury's gaming investments. This surge highlighted BEAM crypto's increasing market prominence, with its price peaking at $0.01253.

How BEAM Works

Beam, nestled in the Avalanche subnet, harnesses Avalanche's power for blockchain gaming. Its Proof of Authority model, backed by the Snowman protocol, bolsters the Beam market cap by ensuring secure transactions. BEAM crypto's compatibility with Ethereum Virtual Machine (EVM) invites Ethereum apps onto its platform, positively influencing BEAM token price.

Beam's ecosystem, featuring Beam Swap, Bridge, Explorer, Sphere marketplace, and BeamOS, offers a robust toolkit for game development. The BEAM token, central to this ecosystem, facilitates transactions and smart contract interactions. It was launched as a multi-faceted token that can be used in delegation, governance, gas token, validation, and buyback and burn.

BEAM News, Updates and Highlights

According to DefiLlama, Beam ranks as the #79 blockchain by TVL, boasting a $4.31M TVL, a 400% increase since its launch.

BeamSwap, the primary protocol on the Beam blockchain, has seen a 190% increase in TVL within a month, demonstrating its growing utility. The Beam ecosystem is also expanding into gaming, as announced on its Hub page.

Collaboration is key for Beam, evident in its joint effort with Merit Circle, engaging the community with quests and games. This approach is vital for building a strong user base for BEAM.

Significantly, Beam's active addresses reached an all-time high of 17,110 on December 1-2, 2023, with over 20,600 transactions, coinciding with a surge in BEAM's price to over $0.01. The total number of addresses has reached 86,301, indicating a growing and active community.

Frequently Asked Questions about BEAM

• What is BEAM token?

BEAM token is the native cryptocurrency of the Beam project, developed by Merit Circle DAO. It operates on the Avalanche subnet, chosen for its rapid transaction speeds and low fees, essential for blockchain gaming platforms. BEAM was created to innovate the blockchain gaming world, initially serving a select group of developers before expanding to a public blockchain.

• What led to the creation of BEAM?

BEAM was born from the rising interest in play-to-earn games, with the goal to transform the blockchain gaming sector. It marked a significant evolution in Beam's history, transitioning from a limited developer-focused platform to a public blockchain. The launch of BEAM as a native token was a key milestone, facilitating in-network transactions.

• How did the Merit Circle token transition to BEAM?

In October 2023, following the approval of proposals MIP-28 and MIP-29, the Merit Circle token (MC) transitioned to the Beam token (BEAM). This strategic move was aimed at better aligning the token with Beam's growing ecosystem. The swap rate was set at 1 MC for 100 BEAM, with a deadline for migration by October 26, 2024.

• Where to buy BEAM?

BEAM can be purchased on several leading cryptocurrency exchanges. These include Binance, Uniswap, Gate.io, Bybit, MEXC, Bitrue, PancakeSwap, Bitget, and Crypto.com. Each platform offers different features and trading pairs, so it's advisable to explore these options to find the best fit for your trading needs.