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BEAM MigrationJoin us in the evolution of the Beam Network and Web3 Gaming! Are you a Merit Circle (MC) token holder? Then keep reading!
2 min3 Apr 2024

BEAM Migration

Join us in the evolution of the Beam Network and Web3 Gaming!

Are you a Merit Circle (MC) token holder? Then keep reading!

Following the acceptance of the MIP-28 and MIP-29 proposals, the Merit Circle (MC) token is being migrated to BEAM. This migration was put in motion by the MC DAO, and is purposed with better aligning activities and practices with the Merit Circle ecosystem. 

The conversion ratio is 1:100, meaning that for every 1 MC token you hold, you will receive 100 BEAM tokens. 

What Do You Have To Do?

Absolutely nothing! We’re taking care of the conversion on the backend, so all you have to do is have your MC tokens on Uphold. We’ll be conducting the MC to BEAM migration on Tuesday, April 9, 2024, from 3PM-4PM UTC. During this time, all buys, sells, deposits, and withdrawals of MC will be disabled. Once the conversion has been successfully completed, you’ll be able to view, transfer, and trade your BEAM tokens!

What is BEAM?

BEAM is set to become the native token of the Beam Network, and is intended to have the same utility that the MC token currently has:

  • As the network’s native token, BEAM may be used for validating and securing the network, as well as acting as fuel for different on-chain activities, such as blockchain gaming.
  • BEAM may be used for governance activations, such as voting on proposals, similar to the ones that put forward the migration!

    • Join us as we venture into the future of Web3 gaming with the Beam Network and BEAM!


    Don’t invest in crypto unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.

    written byUphold Team
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