Eco Association Update: June 2024
Welcome to the Eco Association’s monthly newsletter. We cover developments in the Eco currency protocol and the broader community.
Let’s get to it.
The Summer of Eco ☀️
Last month, Andy Bromberg, our former CEO and now Chairman, announced an exciting new hire , and we are thrilled to welcome Jay Kurahashi-Singh as the Chief Marketing Officer (CMO) at Eco.
Jay brings over a decade of experience leading and advising teams on launching and growing in Web3. Here’s what Jay had to say about his new role:
Jay will be leading marketing and growth efforts to bring global, onchain payments powered by Eco to the world!
Eco is a proud sponsor of FWB Fest happening later on this summer. The theme this year is ‘Validation’ and we are excited to bring onchain payments validation to the event. We’ll be powering merchant and guest payments for the entire festival! If you're in the area, come enjoy 3 days of music, ideas, and emerging tech in the woods of Idyllwild, CA, August 1-4. Purchase tickets here.
Community Governance ⚖️
Last month, we successfully passed the Eco v1.5 upgrade proposal. This marks the initial phase of a two-step migration, integrating the v1.5 technical enhancements into the Eco Protocol.
Now, we're gearing up for the transition from ECO to ECOx and putting considerable effort into the MVP of the new system. We'll provide more details soon, so stay tuned for an upcoming thread where we’ll dive deeper and invite your feedback.
Happenings & Shoutouts
📈Stablecoins have seen significant growth this year. In January 2024, the stablecoin supply was $138 billion. Today, it stands at $168 billion. That's $30 billion worth of FIAT moved onchain in just six months. Stablecoins continue to be crypto's biggest use case, driving adoption and utility in the digital currency space.
🏆 Beam contests drive growth and adoption!
Beam gave the winner of June 10’s BRRR day contest an exciting decision: do they splash $50 back into the pot to boost the next BRRR DAY prize to $200 USDC, or take the full $100 for themselves?
Beam also held a contest where users displayed their unique emoji addresses for a chance to win a Beam name.
We've been closely monitoring the progress of the Eco Inc. team as they prepare for the upcoming Eco protocol launch, and we're truly impressed by their remarkable achievements so far. Although there's still a considerable amount of technical work to be completed, June was a milestone month for the team building Eco. We're excited to share more details about our progress this summer.
And finally, 📲Coming Soon! The Beam team has been hard at work on new features focused on seamless integration. Are you ready to find out what it means to be “Beamable”?
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.