Dear 1Beam Community,
After examining all the possibilities at our disposal that could potentially restore the situation, we sincerely regret to inform you that we find ourselves having to end support for 1Beam.
This decision was a very tough one to make, because of the many hours of development paired with our own capital we have spent trying to offer DeFi users a useful and intuitive stableswap product. Without any external funding whatsoever and zero team token allocation ever sold, the recent market downturn forced us to conclude that maintaining 1Beam has become financially unviable and unsustainable.
The following actions will take place:
- The 1Beam.io website will be shut down on 30 June 2022
- LP providers will have to remove their liquidity from farms and pools
- Liquidity incentives for all 1Beam pools will end effective immediately
- 100% of 1Beam Treasury funds will be distributed to our users, see below
Treasury Funds Distribution
All accumulated funds in 1Beam Treasury will be distributed to stakers and lockers by the end of May. At the time of writing, Total Undistributed Fees across our three ecosystems are as follows:
- 1Beam MoonRiver: $30,669
- 1Beam MoonBeam: $1,114
- 1Beam Cronos: $517
To all of our users and supporters: THANK YOU!
