We are thrilled to share that Beam (BEAM) is now listed on Coinhako!
What are Beam and BEAM?
Beam is a gaming-focused blockchain launched by Merit Circle as a subnet on Avalanche. It revolutionizes blockchain use for game development, player experience, and asset trading. Beam allows the minting of omnichain NFTs that can be transferred across chains through integration with the interoperability protocol LayerZero.
BEAM is the native cryptocurrency for the Beam network and all the transaction fees on the network are paid in BEAM. The BEAM token is required to interact with the Beam network, including asset transfers and smart contract interactions, facilitating an immersive gaming experience. Additionally, BEAM is the governance token for the Merit Circle DAO, where holders can participate in the DAO's governance.
There is a total supply of 62,955,102,600 BEAM and BEAM has traded for $0.04434 at its peak.
How does Beam work?
Avalanche's architecture enables the launch of sovereign subnet blockchains that leverage Beam’s features, including fast transactions and low fees. Both features are important for players and game developers due to the fast-paced nature of modern P2E games and the wide variety of in-game assets traded on them.
As a typical Avalanche subnet, Beam maintains its own relatively small set of validators, with the number of qualified validators likely to grow as the platform matures. Any validator on the vast public network can offer their resources to any subnet — as such, Beam can draw on the resources of the broader Avalanche platform to attract quality validators.
During the permissioned mode, Beam used the proof of authority (PoA) block validation method to process transactions, which continued into its public mode era. Merit Circle plans to move the platform to the proof of stake (PoS) validation model, the default block validation method used by the Avalanche blockchain.
Why does Beam stand out?
While BEAM is a new crypto gaming token, it is already among the top 10 gaming cryptocurrencies. It sets itself apart by being an all-in-one gaming platform, unlike single-game platforms like Decentraland and Axie Infinity. The gaming hub lists over 180 games including Raini: The Lord of Light, a fantasy card game, which was the first to launch on Beam. Since then, the platform has added various titles, including the move-to-earn mobile game Genopets, the ARPG Big Time, and FPS Shrapnel.
Beam also operates with a small but essential ecosystem with these current features:
Beam AMM Swap: A decentralized AMM exchange
Beam LayerZero Bridge: A cross-chain token transfer solution
Beam Block Explorer: A tracking platform for Beam transactions and statistics
Sphere: An NFT marketplace- BeamOS: A portal for Beam tools and apps
What can you do with BEAM on Coinhako?
BEAM will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
- Purchase BEAM instantly with Visa / Mastercard
Please note that the sending and receiving of BEAM will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.