Beam 2023 Week #15 - Accumulation

Covering April 10th - April 16th 2023

Apr 17, 2023

Beam News!

A huge week for Beam with the launch of the Nephrite stablecoin, the DEX accumulation DAPP going live, and 7.3 hitting mainnet. Let’s dive right in and check it all out!

DEX Accumulation Phase

The BEAM/BEAMX Liquidity Accumulator is now live on Mainnet! Beamers can start depositing ahead of the DEX launch expected in the next couple of weeks. Those that choose to provide liquidity during the accumulation phase will be rewarded with boosted BeamX rewards depending on the lock duration(s) selected.

This accumulation phase is to prepare and encourage the BEAM and BEAMX liquidity for launch. This phase will last for two weeks prior to the DEX launch. Once launched providing liquidity will still be available, and users will be rewarded for doing so, although not receive the bonus rewards available during the accumulation phase.

The launch of the DEX will be a huge addition to the Beam ecosystem, adding to the Nephrite stablecoin that launched last week on mainnet!

Nephrite

The launch of Nephrite is an exciting development for the Beam community, with it introducing the first stablecoin to the ecosystem. Stablecoins are a crucial component to any crypto ecosystem. Decentralized stablecoins like Nephrite are particularly important as they do not rely on trusting the issuer or any intermediary. With Nephrite, users can open troves using their Beam as collateral to borrow NPH, the stablecoin. This allows for greater financial flexibility and access to liquidity, all while maintaining privacy and security on the Beam blockchain. As the crypto ecosystem continues to grow and mature, stablecoins like Nephrite will become increasingly important, and decentralized ones will prove unstoppable.

At the time of writing Nephrite has had a number of users:

TVL : $11.0K, 219,229.59 BEAM
Troves : 16
NPH supply : 4.85K
NPH in Stability Pool : 3.90K (80.3%)

As voted in Epoch 18, Nephrite will receive BeamX to incentivising users to add liquidity to the stability pool. This will be transferred from the DAO to Nephrite after the audit on the protocol has been completed and published. This is expected to be in the next week or two.

Beam Wallet 7.3

The latest Beam Desktop wallet has been released to Mainnet, bringing with it some wicked new features and improvements:

Hardware wallet support, allowing users to securely store their cryptocurrency offline
Beam Messenger alpha added to wallets, enabling users to communicate securely and privately within the app
Improved handling of high-frequency transactions

There was a small issue that went unnoticed in the testing phase, namely removal of the SBBS address from the receive screen, and thus a Hotfix was released. You can find more details and links to download here.

Beam Space

This weeks space was jam packed! We covered the recent 7.3 release, DEX accumulation phase, the faucet and asset minter. Follow ⟁Beamster⟁ for Beam Space overviews, and be sure to set your reminders and join us next week!

Day: April 20th
Time: 18:00 GMT
Location: Beam Twitter

https://twitter.com/beamprivacy/status/1648076749685530626

See you there!

Past Beam spaces are also available on Youtube!