INTRODUCTION TO BEAMX DAO
Understanding the concept of Dao in the Crypto-space.
INTRODUCTION
With a history of DAO traced to BitShares, Steemit and EOS (Block.one) founder Dan Larimer in 2015 as the first propounder, and further refined by Ethereum’s Vitalik Buterin in 2016.
Another unique aim of DAO is the ability to keep a network safe and optimized without the need for manual intermediation by its members. Investors are not mandated by a legal contract, but rather incentivized by rewards in the form of native asset tokens that help them work towards a unified goal.
BeamX DAO
The common understanding of DAOs towards the late 2019 probably was more about decentralized collateralization. However, the increased awareness around decentralized finance (DeFi) protocols in the early 2020 increased their popularity as many yield farming and decentralized exchange (DEX) platforms became dependent on it for governance.
Beam transcended to the DAO model for both the basic protocol level as well as the new Confidential DeFi applications platform, With the aim of making the Beam ecosystem as decentralized as possible, giving the stakeholders full control over the protocol Governance. The basic focal areas includes:
- Governance.
- BEAMX tokens distribution.
- Confidential decentralized Application.
Governance
Governance opens Beamer to proposals, creation rights. Anyone holding the BEAMX tokens can and should participate in the governance by staking the tokens in a voting contract on the Beam blockchain. suggestions are considered based on a value added to the ecosystem and are open to any area of thought such as incentivizing, collections for confidential NFTs etc; and are passed through voting on Beamer community.
How does the Voting Process work? It's expected that before voting engagement, Beamers should lock a $BEAMX in the voting smart contract to have voting power. The voting process is divided into epochs. Each epoch lasts 2 weeks (or 20,160 blocks).
1 vote equals 1 $BEAMX However, a Voting Power Factor increases by locking additional $BEAMX tokens and for a longer-term. Learn more
BEAMX tokens distribution
Also known as Confidential DeFi Token (BeamX token), is a Confidential Asset issued on top of the Beam blockchain with a fixed emission of 100,000,000 units, with exclusive emission management by DAO Core contract.
BEAMX is the governance token for the BeamX DAO. Users can earn BeamX tokens by participating in the DAO activities: providing liquidity to the DeFi applications governed by the DAO or participating in the governance process. Token can be earned through engagement ranging from DAO Treasury, Liquidity Mining, Ecosystem Partners, Ecosystem Partners etc. Learn more
Confidential decentralized Application
Beam is a privacy-by-default and maximum confidentiality blockchain that conceals wallets & transactions metadata using privacy protocols. BeamX brings a unique all-new privacy-by-default and maximum confidentiality DeFi ecosystem, powered by the BEAMX token & governed by the BeamX DAO. Learn more
With the intent of bringing sovereign and community governance in BeamX DAO with maximum benefits around DAPP profit sharing for stakeholders to the BeamX DeFi ecosystem. The DAO will be governed by the BEAMX governance token (which also happens to be a confidential asset).
The BeamX DAO Core contract will provide the ultimate transparency and visibility into all aspects of Beam blockchain development. The end aim is to transfer the process completely into the community’s hands, providing a complete dynamic level of stability has been achieved.
CONCLUSION
Understanding the unique role of individuals/investors in an ecosystem is most eminent, Making Governance an essential factor in the Crypto-space. Beam in condescension with this view has opened the beamX DAO giving Beamers full control of their stake with broad alignment of interest and application development with the mutual aim of driving Confidentiality to the world of blockchain Decentralization.
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