The BeamX Governance token is set to launch on October the 21st!
There has been great anticipation for the upcoming release, and the team has been heads down getting everything in order and ready to go. From security audits to wallet developments and UI improvements, the stage is set for Beam and BeamX to take DeFi by storm, all with the utmost privacy!
The launch will act as the first distribution mechanism for the $BEAMX Confidential Asset, with Beamers being able to stake their $BEAM to receive $BEAMX.
BeamX is the governance token for the Confidential DeFi ecosystem being built out, and the various applications that can run on top of Beam including stablecoins, lending, and decentralised exchanges. This also represents a huge shift in decentralisation for Beam, from a foundation model to a fully-fledged DAO. BeamX will be obtainable through participation in various ecosystem activities, by providing liquidity to the DeFi applications governed by the DAO, or by participating in the governance process. Beamers will all have a say in the functioning of the privacy laden ecosystem that is Beam!
The initial phase for BeamX distribution will take place starting the 21st of October, right from within the Beam desktop and web wallets. This will allow for a decentralised distribution to those looking to get involved in the ecosystem, and prepare them for governance voting that will launch shortly after.
An exciting time for Beam, as we push forward with the Confidential Ecosystem rollout. Expect many announcements regarding the intricacies of staking and the various dynamics on distribution and voting leading up to the launch. A huge milestone for us all and we are excited for what lays ahead!
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