Eco Association Update: May 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.
Entering the Payments Era
The first governance action towards “The Next Eco Era”, as outlined in Ryne’s forum post back in April, was completed in May.
Alongside the Eco v1.5 technical upgrade that was implemented, monetary policy was sunsetted and the Trustee group was deactivated from their roles.
With this transition into the Payments Era, the Eco Association would like to thank all who served as Eco Trustees over the past year and a half — as well as all community members who engaged in monetary policy discussion and debate — for their participation in this great experiment.
And with that, let this next era begin 🥂
It’s Launch Season ☀️
This summer, we'll be opening up the technology that powers the Beam wallet — and sharing many more project updates along the way.
We’re excited to start with the news that Ryne Saxe returns to the role of CEO of Eco Inc., and Andy Bromberg will serve as Chairman. Andy will remain focused on helping build on the project’s momentum, and we’re excited for his continued involvement in this new capacity.
Andy shares a few other sneak peeks in this thread:
Summer of Eco is here, indeed — and there’s lots more to come.
Community Governance ⚖️
Eco Community Governance runs in two-week cycles called “generations”. This section summarizes any governance proposals enacted in recent generations.
In Generation 1040, proposal “Eco v1.5 upgrade” passed — which, as mentioned above, also marked the conclusion of monetary policy governance being enacted on the Eco Currency.
Note: If you had any ECO delegated to another address — you can see this in the “Manage Delegation” section at governance.eco.org/account — it was automatically undelegated with this upgrade. ECOx delegations remain unchanged.
Happenings & Shoutouts
🎉 Community members @QueenDDebbie, @lexx_august, and others helped educate users about Beam at a recent WeaveDB campus Meetup.
💸 May was a busy month for stablecoins & crypto payment adoption. We highlighted how major institutions like PayPal, Visa, Circle, and Mastercard are improving the adoption and accessibility of digital currencies, as well as unique implementations of crypto payments like Lugano, Switzerland.
👏 Beam sponsored Coffee & Chill in Venice, CA as part of Farcaster’s FarCon. Beam handed out $USDC on Base and Optimism for those who showed up early Sunday morning for an ice plunge!
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.