In the last three years, Beldex has invested most if not all of its resources into the research and development of decentralized applications on the Beldex chain. However, most Proof of Work networks with DApp ecosystems today are at crosshairs between scalability and security. Beldex envisions a truly private, scalable, and decentralized DApp ecosystem and to achieve this, it was necessary for the Beldex network to upgrade from a Proof of Work to Proof of Stake consensus.
However, this was not the only challenge at hand. In hindsight, it was inevitable that we face another obstacle down the road — the funding required for the development of the Beldex ecosystem. Beldex had a fair launch in 2018 and over 65% was distributed through public and private sales. The remaining BDX had a linear vesting of 3 years from August 2018 to August 2021, most of which were used for various purposes such as airdrops, marketing, exchange liquidity, hiring new team members, and ecosystem developments. Our goals became bigger and so did our project, but we had drawn the short straw. We discerned that by the time POS went live, we would have lacked the funding required for our lofty aspirations.
Thus, to ensure that we’re sustainable in the long term and to further the development of the Beldex ecosystem, BDX was minted at the block height 742425 after the transition from Proof of Work to Proof of Stake consensus algorithm which resulted in the total supply of Beldex (BDX) increasing to just over 9.9 Billion BDX. Though there has been an increase in supply, this hasn’t adversely affected the coin’s value in part because most of the minted BDX are locked and will be released over a period of time for specific purposes, with major allocation made to the development of the Beldex ecosystem.
The updated BDX tokenomics is as follows,
Ecosystem Development — 40%
Circulation — 30%
Seed and VC — 10%
Marketing — 10%
Team — 6%
Exchange Liquidity — 2%
Legal — 1%
Early Adopters — 1%
Now, let us take a look at the upcoming projects and future endeavours that demanded this measure and made it mandatory.
Development of DApps: DApps are a part of the Beldex private ecosystem, including Private Messaging Application BChat, dVPN Belnet, Beldex Browser, Beldex privacy protocol and Beldex Bridge. All of this will contribute to safety and better security for its users in totality.
Announcing Beldex Research Labs
Beldex research labs is the research wing of Beldex International Inc and a separate entity dealing with the research of on-chain and off-chain scaling solutions, and other novel implementations.
The following are overseen by Beldex Research labs,
Cross Chain Interoperability: connecting the Beldex ecosystem to other blockchain platforms
Privacy Based Smart Contracts: Building an ecosystem such as Ethereum on Beldex, but with privacy.
ZK-Roll Ups on Side Chains: To enhance transaction speed and privacy with zero-knowledge proofs.
Beldex Name System: Unstoppable domains powered by the Beldex network.
Wallet Integration on BChat: Easily send and receive BDX on the go as you chat.
Beldex Investments: Beldex research labs also constitute Beldex investments, a subsidiary that deals with identifying and developing the most promising projects in the crypto space.
Lockup and Vesting Schedule
A total of 3.33% of the ecosystem development funds will be released every quarter for the next three years until 2025.
The funds reserved by the team will have a 2-year cliff (lock up) and a linear vesting of 18 months which will ensure the supply demand economics stays in check.
All of the upcoming upgrades will require intensive analysis and research for it to be a success. The minting will prove to be a necessary step in the growth of the Beldex ecosystem.