Eco Association Update: October 2023
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.
dApp Development Grant Issued 🎉
If you check out governance.eco.org on mobile, it’l look much cleaner than it did a month ago:
The completion of this grant is a milestone for the Association, as it marks the beginning of a shift towards more community-owned dApp development and maintenance.
We’re excited to enable further decentralization of this type of product development in the ecosystem — and there’s more in the works here, KYEP 👀
Beam Product Updates ⁜
Onboard with email! Don’t have Twitter? You can now save access to your Beam account with an email address, as an alternative
A sleek new landing page: about.beam.eco
Beam also added a “digital dollars” update to the UI, alongside adding support for USDT. This is a pretty unique consumer crypto experience, allowing you to see (and send!) all your stablecoin balances in aggregate without the hassle of network-switching.
Annika broke it all down — how it works, how it fits into the Superchain vision, why it’s exciting for consumer crypto broadly speaking — in this demo on Twitter.
Community Governance ⚖️
Eco Community Governance runs in two-week cycles called “generations”. This section summarizes any governance proposals enacted in recent generations.
Generations 1025 and 1026 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”)
Interest rate lockups
In Generation 1026, a 16.2% APR lockup (45 days) was enacted.
In Generation 1027, a 20% APR lockup (60 days) was enacted.
These last two generations have marked continuation of a trend: the Trustees experimenting with higher and higher APR lockups, with 20% being the highest ever enacted in the protocol. As always, if you’d like to participate in lockups, you’ll need to act within two days of the policy being enacted, and you’ll need ECO on Ethereum Mainnet.
Subscribe to our Telegram channel to get updates when new policies are enacted.
Happenings & Shoutouts
🎙️ MetricsDAO hosted us, along with the Beam team, for a Twitter Space deep-dive into Eco & onchain payments. Thanks to the MetricsDAO team for running this session!
💸 Beam was featured in Kayla Phillips’ Crypto Payments Market report — read through for her great thread covering the macro trends & opportunity in the crypto payments space at-large
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.