Wrapped BEAM
WBEAM
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
WBEAM is an ERC-20 1:1 wrapper for native BEAM (the gaming network token stewarded by the Merit Circle DAO / Beam Foundation on an Avalanche subnet). Active Development could not be scored (-1.0) due to source contamination from unrelated projects sharing the name 'Beam', representing a data gap. The wrapper suffers from very low adoption with under 400 holders, minimal standalone liquidity (~$54k 24-hour volume), and an unrecovered price drawdown exceeding 96% from its all-time high. While the protocol has maintained an exploit-free contract record audited by Quantstamp and has no qualifying red-flag events (an isolated February 2024 phishing incident was limited to a private user key), the wrapper token offers little utility beyond native BEAM while introducing proxy upgradeability risk.
Development Activity
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Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Wrapped BEAM (WBEAM)
Wrapped BEAM (WBEAM) is an ERC-20 token that functions as a 1:1 canonical wrapper for BEAM, the native gas and governance asset of the Beam gaming network operating on an Avalanche subnet. Stewarded by the Merit Circle DAO and the Beam Foundation, the wrapper was established following ecosystem governance transitions, including the historical migration from the original Merit Circle (MC) token under proposals MIP-28 and MIP-29. The smart contract architecture allows users to wrap native BEAM for use within ERC-20-compatible decentralized finance environments without an independent minting, vesting, or inflationary schedule.
The token's underlying smart contracts have undergone external security assessments by Quantstamp and have maintained an exploit-free record at the protocol level. However, adoption of the wrapper remains limited compared to the native asset, with under 400 unique holders and thin standalone trading liquidity. Governance participation specifically regarding wrapper operations has shown minimal activity on official forums, and the wrapper mechanism carries proxy-upgradeability risks managed by the governing entities.
WBEAM has experienced significant market pressure, suffering an unrecovered price drawdown exceeding 96% from its all-time high of $0.04411, with market capitalization declining to approximately $1.2 million. Historical events within the broader ecosystem include a 2022 out-of-court legal settlement resolving a governance dispute with Yield Guild Games (YGG), as well as an isolated February 2024 phishing incident involving a private whale wallet that compromised user keys without breaching protocol smart contracts.