Eco Association Update: February 2024
Welcome to the Eco Association’s monthly newsletter. We cover developments in the Eco currency protocol and the broader community.
It was a big month events-wise in the Eco Community — and without further ado, let’s get to it.
Beam @ ETHDenver
Along with the Beam team, the Eco Association attended ETHDenver, one of the world’s foremost annual crypto events, which ran from Feb 29-Mar 3.
The purpose of our attending was primarily to join the Beam team in helping promote the wallet — and it was a great success.
In addition to Beam having a booth in the main venue, this conference marked the first time that Beam payments showed up IRL in a big way — there were many opportunities across Denver for attendees to experience Beam in the wild, including:
The Beam Block — Seven merchants in the RiNo district accepted Beam for payments throughout the week of the event, ranging from local bars to restaurants to gift shops
“Beam Macs” — ETHDenver attendees could pay with Beam to get a Big Mac hand-delivered to them at the main venue
Friends & Family Happy Hour — A small event at a local brewery for friends of the project, complete with Beam payments at the bar
Alongside the main event, the Eco Currency Trustees also gathered in person for the first time in the protocol’s history for an offsite.
Finally, in addition to the payment activations, the Beam team also presented several talks — check out Andy’s “10 Minutes to Midnight” talk covering the state of onchain payments today.
Nigeria Community Meetup
In addition to ETHDenver, there was another big February event worth noting: the first ever community-organized Eco meetup in Africa was held on February 9th in Uyo, Nigeria.
This meetup, which hosted over 100 people, was led by individuals within the community and was funded, supported, and led by individuals in the community’s Layer 3 Ecollective group.
It was great to see all the buzz online about the event, and we’re very excited to see these types of events spinning up within the community — if you’d like to run one in your area, pop into the Eco Discord and find the Layer 3 group!
Community Governance ⚖️
Eco Community Governance runs in two-week cycles called “generations”. This section summarizes any governance proposals enacted in recent generations.
Generations 1034 and 1035 passed without any governance proposals.
Monetary Policy Governance 🧮
As described in the Monetary Policy section of the Eco whitepaper, Eco Trustees vote to enact a policy every two weeks (i.e., each “generation”).
The monetary policy levers currently available to the Trustees are:
Linear supply change (also known as “rebase”)
Random inflation
Interest rate lockups
In Generation 1034, the winning proposal was a 10% APR with a 30-day lockup.
In Generation 1035, the winning proposal was the “default proposal”, which means there was no change in supply and no interest rate lockup enacted.
Subscribe to our Telegram channel to get updates when new policies are enacted.
Happenings & Shoutouts
🎙️ Andy Bromberg appeared on The Pomp Podcast to discuss onchain payments and revisiting the concept of peer-to-peer electronic cash systems
🤝 The USDV team wrote a great summary thread of the Twitter Space we hosted with them last month, summarizing the USDV token which is supported in Beam
This email is for informational purposes only and all token-related updates are compiled from publicly-available sources (as described below). It should not be construed or relied upon as financial advice and it is not an offer or recommendation to buy or sell any asset or enter into any transaction. The development and operation of the Eco network is decentralized, so any protocol upgrades discussed above that have not yet been implemented remain subject to community governance approval. Nothing in this email is confidential and all material information contained herein is publicly available to members of the Eco community through its Discord, community update calls, independent third party websites, on-chain transaction records, and other open channels.
Amazing beam