Beam 2021 Week #21 - DAO... DeFi... Decentralise!

Covering May 17th - May 23rd 2021

May 24

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Beam News

A MASSIVE week for Beam :D
Funding of BeamX was announced, along with the plans for the confidential DeFi buildout and use cases, along with the decentralisation of Beam governance. Let’s dive in, and go over the key details of the updates!

BeamX

On Friday, a huge announcement for Beam was made in the form of BeamX funding. 2M USD was raised to decentralize governance with the BeamX DAO and deliver Confidential DeFi infrastructure. The BeamX DAO will be governed by a Confidential Asset (CA), $BEAMX.

Beamers will be able to stake their $BEAM, and other assets, to receive $BEAMX. Not only will BeamX be the governance token for the confidential DeFi apps, it will also play a fundamental role in transitioning from the Beam Foundation to the BeamX DAO.

Huge steps for the Beam confidential DeFi ecosystem, allowing DAPPs for staking, governance, lending, and trading.

To learn more check out:

Exciting times coming with a lot of details and info coming through. Expect to see more updates on governance, tokenomics, and the illusive roadmap update. A lot of exciting stuff to come leading up to, and beyond the hard fork. Speaking of which…

Fierce Fermion 6.0

The last week also brought with it the latest update for Beam, with the release of 6.0. This release is compatible with the hard fork, so if you haven’t already:

Update your desktop wallets now!

Some absolutely wicked updates in the latest wallet include:

Shaders (a.k.a. Smart Contracts) are paving the way to Confidential DeFi. Expect multiple Decentralised Applications (DAPPs) executed in Beam Nodes and Wallets.
The hard fork to enable Shaders will take place at block 1280000. To continue using your funds after the fork, please upgrade your wallets prior to reaching the height!
Confidential Assets have arrived in the Beam Desktop Wallet! Send and receive with regular or max privacy, get payment proofs, see the balance and extended info: we’ve covered pretty much everything to help CAs become first-class citizens.
Massive update with over 180 tasks and bug fixes at the time of writing to make “everything just work” yet again.

A monstrous release, and huge achievement from the devs and QA. A big shoutout to them all!