MIP-27 - Beam development and ecosystem funding

The development of the sovereign network Beam has been ongoing for several months and the mainnet has now been launched. Beam seeks to be a network specifically suited for gaming, aiming to enable game developers to easily, and at low cost, adopt and incorporate blockchain elements into their games. Activity on Beam will be centered around the MC token, as all transactions will require MC tokens to be utilized to cover gas fees. Large groups of contributors have been, and are continuing to be, involved in the development of Beam.

This proposal seeks MC tokenholder approval to:

(1) Utilize up to 75 million MC tokens from MC DAO’s treasury for the purpose of liquidity on Beam, grants to games / game developers (used to cover gas fees on Beam), and for validating and securing the Beam network(s). It is important to emphasize that none of these MC tokens may be sold directly on the market or otherwise; the only scenarios where such tokens may come into “circulation” and become owned by a third-party are (a) through the mechanics of how an AMM functions and (b) as a result of validators (including delegators) collecting gas fees in connection with transactions on Beam that are funded by a grant.

(2) Utilize up to 2.7 million USDC from MC DAO’s treasury, to develop Beam and certain ecosystem products (should all allocated funds not be utilised they shall be returned to the MC DAO treasury). 200,000 USDC of the sum is proposed to be utilized for liquidity purposes on the AMM on Beam.

Please click on the link attached to read further details about the proposal and the discussions in this regard.