BEAM - A gaming subnet by Merit Circle
Merit Circle's new Gaming Subnet launching on the AVAX network
($MC) Merit Circle announces their new gaming-based subnet
Hi all. In this article we’ll take a brief tour of the newly announced BEAM blockchain (subnet), just announced by the Merit Circle DAO. I’ve had a chance to digest this very large development for the DAO, and will be sharing an overview and synthesis of how I believe this will positively impact $MC, as well as the broader ecosystem of the DAO and all stakeholders involved.
Of special note, we will touch on how the introduction of the BEAM subnet into the Merit Circle ecosystem applies added demand pressure on the underlying native token ($MC), as well as how all participants in & around BEAM realize a positive shared network effect - benefitting all members within.
Before we dive further into our dissection of the BEAM network, let’s recap to remind ourselves what ‘ Merit Circle ‘ is …
BEAM at a glance
Beam will be an AVAX subnet created exclusively by & for the Merit Circle DAO
Launching exclusively on Avalanche (AVAX) - as a subnet
Emphasis on Games, but also infrastructure, backend tools & utility dAPPs
Why BEAM ?
First, let’s define what a subnet even means. According to AVAX, a subnet (in the world of Avalanche), is a :
… Sovereign network which defines its own rules regarding its membership and token economics. It is composed of a dynamic subset of Avalanche validators working together to achieve consensus on the state of one or more blockchains. Each blockchain is validated by exactly one Subnet, and a Subnet can have many blockchains. A validator may be a member of many Subnets … ( source: https://docs.avax.network/subnets )
In our case with Merit Circle and its DAO, BEAM is the name of the AVAX subnet owned & operated therein. Beam operates independently, catering towards both gamers and game developers alike, but will also be home to other decentralized applications and services.
There are 2 Main Goals for this new Gaming-focused Subnet:
Facilitate the DAO’s products
In-house developed apps/dapps, games, Sphere marketplace + all in-game integrations, as well as a DEX / AMM (Automated Market Maker), as well as various infrastructure, tools & utilities created by CORE, partners and community.
Become the home hub for a multitude of engaging games - both from within the DAO itself as well as from its partners.
Beam, Autonomy & Empowerment
Beam operates independently, catering to gamers as well as developers alike. In doing so, it empowers development and contribution via DAO partner games, multiple contributors, developers and tools, while at the same time attracting and incentivizing investment in the ecosystem due to the organic network effect created around all the participants.
An example of this being Validators - Those who choose to validate transactions and secure the network, thereby ensuring its safety and performance. According to Merit Circle, those who validate on the BEAM network will receive a reward in $MC tokens in return, but will also be required to hold a substantial amount of $MC as a prerequisite of their participation.
Pros of Leveraging AVAX
There are a few definite standout advantages to leveraging AVAX to build out BEAM:
Minimal fees for all operations (low barrier of entry & minimal operating cost)
Absolute configurability of base fee & block time parameters (flexibility for deployers - dependent upon game/dapp supported)
Ease of deployment
Possibly the biggest Pro - As deployment is made much more seamless, this prevents wasted time/energy/effort (as well as capital) that woudl otherwise be directed away from active development. This ensures developers time is spent actually developing and enhancing their games/apps & products - and gamers and users alike in the BEAM ecosystem benefit by a better, more engaging user experience.
Security & safety - via leveraging the dependability of AVAX.
As well, approved dAPPs and anonymous apps can be enjoyed by trusted developers that have done through a proposal process.
Vetting allows seamlessly movement across the network, allowing games and products to be enjoyed by gamers and users. Initially, only whitelisted addresses can deploy new smart contracts to the subnet. To make this process happen in a fair and open way, token holders will be able to propose the addresses that Beam allows.
BEAM Launch
The Beam launch window is planned to have a wide range of products and games available, making usage of the subnet, as well participation (especially on the validator side) lucrative from the start. Merit Circle also plans to incentivize continued participation within the network among the various games and their players through a variety of means.
Titles and Products to include …
Beam will be home to many products both at and after its launch, some notables include:
Trial Xtreme - Gameplay Galaxy is developing a decentralized competitive gaming ecosystem. Their flagship game, Trial Xtreme, will be launching on beam
Walker World - Created with Unreal Engine 5, Walker World is a massive interoperable open world experience that takes players on a tour of a vast universe filled with shared rewards.
Hash Rush - The first MMORTS (Massive Multiplayer Online Real-Time Strategy) powered by blockchain; Players utilize and enhance strategies to build bases and defeat enemies across the Hermeian Galaxy.
Edenhorde Eclipse - A card battling game utilizing Edenhorde NFTs.
Sphere Marketplace - An NFT and game asset marketplace developed by the Merit Circle DAO
An AMM
Wide range of Infrastructure products
According to Merit Circle, this is just the start / what is known at the moment. There are many more studios, partners as well as apps/dapps/utilities & infrastructure either planned or yet to be announced. Many games will launch as they are ready, in accordance with their own release schedules.
AVA Labs Involvement
In collaborating with Avalanche, the MC DAO also gains the support of their development community, as well as business and marketing leg work. With this new engine of talent behind it, BEAM will enjoy a high likelihood of finding a foothold of interest from potential talent to build on its network, as well as users and gamers to take advantage of the pool of products in its ecosystem.
Tying it all back to the $MC token
Besides the added benefits inherent in leveraging AVAX subnets (speed, accessibility, lowered cost, security), one major benefit of introducing BEAM will be the added demand put on the native $MC token. I’ve listed a few of the various ways BEAM increases demand / scarcity on $MC below :
Validators in the BEAM ecosystem will be required to stake 2000 AVAX tokens, as well as hold a ‘ substantial ‘ amount of $MC to continue receiving rewards. The exact amount of $MC required to be held is still TBD. ( https://medium.com/@meritcircle/why-subnet-beam-provides-continuous-value-to-the-merit-circle-dao-6bc3713df59a )
Products and infrastructure residing within the BEAM ecosystem will require fees to operate and utilize, a % of which will be burned in accordance with MIP7.
Internally developed products within the Merit Circle DAO (by various contributors), such as Sphere, Edenhorde Eclipse, as well as an AMM (Automated Market Maker) will all continuously churn and burn $MC during their operations; the heavier their use, the more $MC is burned.
The same dynamic applies to all games and their players within BEAM → The more enagaging the game (via play time, items / NFTs purchased, etc etc) the more $ MC will be burned, and / or ETH/USDC/AVAX will be produced, which will then in turn be used to buy back & burn more $MC (ref. MIP7).
Validators, for their share of participation in the network, will also receive a % of fees
MC Token sinks / 3-way Demand
To put it simply, with any increase of usage of the BEAM network, demand for $ MC will also increase in concert with it.
Succinctly, Usage of Network = Demand for MC.
Future Speculation
In my opinion, this opens the door for future collaboration between partners within the Merit Circle Ecosystem, namely Azuro as well as others. I can imagine a scenario where many of the 60+ present & future partners leverage BEAM in unique ways, resulting in a win-win scenario, both for the Merit Circle DAO, its token holders, as well as the vast swath of Web3 games looking to optimize for the many advantages that blockchain offers for their in-game economies.
All it takes is 1 AAA experience (be it game, platform, AMM, marketplace, utility or otherwise) to make BEAM worth it for gamers and users alike.
♐ Key Takeaways …
$MC will be the native gas token on the BEAM network.
Usage of the BEAM network leads to an increase in demand for the $ MC token, thereby benefitting all stakeholders with a vested interest in its success (holders, developers, speculators & contributors alike) .
An organic network effect is created by curating & attracting top talent to build out engaging products on BEAM from the start.
MC aims to incentivize use of BEAM for builders via lowered cost & ease of use, as well as improved configurability.
By attracting top builders and great engaging products, Gamers, users & investors alike are incentivized to participate in the BEAM network due to the great products and games residing within the ecosystem.
With a highly populated and engaged network, cross-benefits occur among various games and apps, enhancing their usefulness (via shared game economies, utility & organic network effects)
Resources :
Beam (BuildOnBeam) Twitter : https://twitter.com/BuildOnBeam
Sphere Twitter : https://twitter.com/GetOnSphere
Merit Circle Twitter : https://twitter.com/MeritCircle_IO
Avalanche (AVAX) Twitter : https://twitter.com/Avax
AVAX Subnets : https://docs.avax.network/subnets
The Future of Blockchain Development, AVAX Subnets :
https://twitter.com/CosmosAVAX/status/1648056474634182657?s=20
What are Network Effects? : Harvard Business School
BEAM Subnet provides continuous value to Merit Circle DAO: https://medium.com/@meritcircle/why-subnet-beam-provides-continuous-value-to-the-merit-circle-dao-6bc3713df59a
Merit Circle DAO to launch gaming subnet ‘ BEAM ‘ in collaboration with Avalanche: https://medium.com/@meritcircle/merit-circle-dao-to-launch-gaming-subnet-beam-in-collaboration-with-avalanche-62f0e23f3e30
An overview of Games and Products launching on BEAM: https://medium.com/@meritcircle/an-overview-of-the-games-and-products-launching-on-gaming-subnet-beam-5b59958e0a3