Beam (BEAM, also referenced as BEAMM to distinguish it from unrelated tokens sharing the same name) is the native token of Beam Network, an EVM-compatible Layer-1 gaming blockchain. It runs as its own Avalanche Subnet rather than on the Avalanche C-Chain.
Beam originated as Merit Circle, a gaming guild, before its 2023 rebrand. BEAM is also bridged via LayerZero's OFT standard as an ERC-20/BEP-20 token to Ethereum, BNB Chain, Avalanche C-Chain and Base to support trading and liquidity outside its native chain.
Beam differentiates itself from other gaming-token Layer-1s by functioning as a treasury-backed venture ecosystem rather than a single game or chain.
The Beam Foundation's ecosystem treasury held $148.57 million as of 2026-06-30, deployed partly across venture stakes in Aethir, Sophon, Openfort and SUI Group Holdings. The Foundation-incubated, Hyperliquid-based trading app Dreamcash reported roughly $126 million in daily trading volume and over 50,000 sign-ups during its pre-launch phase.
BEAM functions primarily as a governance token, letting holders vote on ecosystem proposals rather than serving as a required payment or staking asset within core protocol mechanics.
It is used both as Beam Network's native asset and, via LayerZero's OFT standard, as a bridged ERC-20/BEP-20 token across Ethereum, BNB Chain, Avalanche C-Chain and Base.
BEAM originated from a 1:100 conversion of the earlier MC (Merit Circle) token. With supply already largely unlocked, net token-supply growth is roughly flat rather than strongly inflationary.
BEAM launched via a token migration, not a public sale, converting the earlier MC (Merit Circle) token to BEAM at a 1:100 ratio starting 2023-10-26. The Ethereum bridge contract was deployed 2023-10-16, about two years after Merit Circle's 2021 founding.
Merit Circle raised a $4.5 million seed round in October 2021 from investors including The Spartan Group, DeFiance Capital, Maven 11 Capital and Yield Guild Games. Framework Ventures joined as a BEAM holder via a December 2023 strategic collaboration.
Beam Network is an EVM-compatible Layer-1 blockchain built as its own Avalanche Subnet, operating as a distinct chain with its own validator set rather than on the Avalanche C-Chain.
For liquidity and trading purposes, BEAM is also bridged via LayerZero's Omnichain Fungible Token (OFT) standard as an ERC-20/BEP-20 token to Ethereum, BNB Chain, Avalanche C-Chain and Base.
Beam originated as Merit Circle DAO in 2021, founded by a team with backgrounds in crypto community-building and gaming guilds rather than traditional finance. It began as a play-to-earn gaming guild before pivoting to blockchain infrastructure.
Publicly identified co-founders include Marco van den Heuvel (Founder and CEO of Beam Foundation), Tommy Quite (Co-Founder and CFO) and Mark Borsten.
The Beam Foundation, successor to Merit Circle DAO following the 2023 MC-to-BEAM migration, maintains and develops Beam today.
Beam Foundation has expanded beyond gaming infrastructure into a multi-vertical ecosystem, incubating projects such as Dreamcash and Sophon, operating the roughly $150 million Beam Ventures fund, and holding a treasury stake in Aethir alongside a partnership with Noon.
BEAM functions as a governance token: holders vote on "Binding" proposals that are enforced on-chain and non-binding "Signaling" proposals, following a Bitcoin/Merit-Circle-style improvement-proposal framework.
Treasury control itself sits with the Beam Foundation and its subsidiaries rather than a fully autonomous on-chain DAO. Per the Foundation's own disclosure, tokenholders hold "certain checks and balances" over Foundation decisions through governing documents and smart-contract features, rather than executing treasury spending directly on-chain.
BEAM's audit history is thin and not clearly confirmed from primary sources.
A single secondary source states the token-migration contract was audited by Quantstamp, but this could not be independently verified, and no CertiK or Immunefi engagement was found. Holder concentration is notable: as of 2026-09-02, the top 10 holders control 57% of supply and the top 50 control 83%, across roughly 48,190 total holders — a structural risk despite reported low exchange-inflow and liquidity-risk signals.