Beam raises 2M USD, decentralizes governance with BeamX DAO and delivers Confidential DeFi infrastructure

Beam raises 2M USD, decentralizes governance with BeamX DAO and delivers Confidential DeFi infrastructure

Beam, a layer one privacy blockchain, is bringing confidentiality to the DeFi space. 2M USD funding has been secured to enable private DeFi building blocks such as AMM, LP, staking, algorithmic stable coin and more.

Multiple institutional and individual investors participated in the first round, including Collider Ventures, Altonomy, LionsChain, Alternity Capital, Youbi Capital, AirSpeed18, Bering Waters, Taureon, Patrick Dai, Winslow Strong, Ivo Georgiev and others.

This goes hand in hand with a governance decentralization from Beam Foundation to BeamX DAO. The DAO will be governed by BEAMX, one of the first Confidential Assets on the blockchain.

BeamX empowers programmatic decentralized app (DAPP) capabilities. The smart contracts (a.k.a. ) provide a full-stack framework to turn the Beam wallet into a one-stop shop for private financial instruments.

Application code is executed by the Beam Virtual Machine (BVM) embedded in both Beam nodes and wallets. The BVM will go live on Mainnet with the Hard Fork in mid-June. In late June, the first DAPPs to vote in BeamX DAO polls and to stake BEAM for BEAMX will become accessible straight from the in-wallet DAPP store in the desktop and web wallets.

Along with the native DAPPs, Beam is building a decentralized bridge to Ethereum, followed by Binance Smart Chain and Polkadot soon after.

Other components such as Oracles are also being developed to enable the full-fledged DeFi infrastructure and interoperability.

Come discover Beam and join our community!

Download Beam Wallet for desktop, iOS, Android

Learn more about Beam on our website and blog

Read about Shaders and BVM

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This article was originally published on medium.com on May 20, 2021 by Sasha Abramovich.

 

 

 

 

 

 

 

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