BEAM (CRYPTO: BEAM)

The migration from the Merit Circle token (MC) to BEAM was initiated through the approval of proposals MIP-28 and MIP-29 in late 2023. Token holders can swap their MC tokens for BEAM at a 1:100 conversion ratio. The migration is open for 12 months, starting on 26th October 2023, and will see BEAM take over all the roles that MC previously held in the ecosystem. Non-migrated MC tokens will remain active but will not benefit from the updated functionality of BEAM, effectively reducing the total circulating BEAM supply as time progresses.