#59 - Treasury Report Q1, 2026
Breakdown of the Beam ecosystem treasury (the “Treasury”) as of March 31st 2026
We are delighted to share the first quarterly Treasury report of 2026.
As always, this report is intended to provide a transparent overview of the Treasury’s financial status. In the report, we share a breakdown of the Treasury as of March 31st 2026, including current investments and other financial activities.
Summary
During the past quarter, the Treasury value decreased from $174,679,179 as of December 31st 2025 to $158,283,119 as of March 31st, 2026. This represents a decrease of 9.39% compared to the previous quarter. During the same period, Bitcoin was down by 22.04%, while ETH was down by 29.05%. The total crypto market cap, represented by the CCI30 index, saw a decrease of 31.50%. Despite this market-wide downturn, the Treasury’s decline was materially lower, reflecting relative outperformance versus the broader crypto market.
In addition, the current BEAM holdings in the Treasury distributed across Ethereum, Beam Network, BNB Smart Chain, and Avalanche is 8,893,740,968.42 tokens valued at $14.88m. There were no BEAM tokens burned during Q1 2026.
Treasury overview
As of March 31st 2026, the Treasury balance is valued at $158,283,119. In addition, the Treasury contains 8,893,740,968.42 BEAM tokens valued at $14.88m.
The Treasury also holds some very small positions, airdrop dust, residual tokens or gas fee money, with values lower than 0.001% of the total Treasury, these balances are not recorded unless they become more significant in value.
We will break down the Treasury in three categories; liquid crypto assets, NFTs and venture investments.
Liquid assets
NFTs
Tokens & equity
*Other
The Treasury dashboard includes a section for “Other Investments”, split across the three categories of liquid crypto assets, NFTs and venture investments. Since the start of the year and during the last quarter, some of the portfolio projects have been underperforming and have seen a significant loss of value. The Other Investments line item aggregates the costs and current realizable value of those projects that have underperformed and thus will usually reflect a significant loss relative to the cost amount.
We feel it is important to be transparent with the community while maintaining the quality of the Treasury reports, thus positions which have negligible value or are written off can be tracked as “Others”, removing the need to provide each one with its own line.
Portfolio update
Beam’s positioning over the past quarter reflects a broader shift across the market. As narratives evolved, particularly with increased focus on AI and new compute paradigms, capital and attention have started moving beyond pure gaming into adjacent, higher-leverage verticals. Beam has remained aligned with this shift, continuing to stay close to where real innovation is happening.
Rather than anchoring to a single category, Beam’s approach has been to stay flexible and opportunistic, allocating toward emerging technologies where long-term value is being built. This is increasingly reflected in the portfolio, with growing exposure to areas such as AI, data infrastructure and new forms of digital economies, while still maintaining its roots in interactive and consumer-facing applications.
Overall, the direction is consistent with Beam’s core strategy: staying in sync with market evolution, and positioning early around sectors that are likely to define the next phase of the cycle.
Zentry
Zentry entered Q1 2026 with continued iteration on zTerminal, their flagship platform for navigating crypto markets live. Rather than a single upgrade cycle, the product now ships updates almost daily. This includes real-time market flows, narrative tracking and AI-driven interpretation. The cadence matters because it keeps zTerminal responsive to live market conditions, instead of working with static data snapshots.
Throughout the quarter, zTerminal expanded its coverage across ETF flows, treasury movements, token mindshare, and macro narratives, with zAI acting as the interface to interpret these signals in context. The platform surfaced key trends, such as Solana’s rising mindshare in March, and captured major market events including MicroStrategy’s resumed Bitcoin purchases and Base’s pivot to a trading super app. Users can now query why assets are moving, track institutional activity, and monitor shifting narratives directly within the terminal.
Monad
Monad executed its mainnet launch in Q1 2026, crossing $200M in TVL in four months and processing over $250M in cross-chain volume through Mayan alone. This made it one of their fastest-growing destinations.
The team also shipped infrastructure upgrades focused on performance. The MONAD_NINE hard fork introduced reserve balance precompiles for more efficient on-chain accounting, while MIP-8 addressed a fundamental EVM storage bottleneck that’s existed since Ethereum launched. These are architectural improvements that position Monad for high-throughput DeFi applications.
Major integrations validated the network’s readiness for real use. Ledger enabled native MON swaps in their wallet app. OKX listed spot trading with $34M in trade incentives. Morpho, a lending protocol, surpassed $200M in deposits, showing that sophisticated DeFi is already migrating over. On the payments side, WalletConnect Pay and Rise Pay went live, and Monad joined the Blockchain Payments Consortium alongside Mastercard.
Developer momentum is also building. Over 1,000 teams applied to the Nitro accelerator, and the team distributed Wave 3 of Monad Cards to 1,250 community members as part of ongoing ecosystem engagement.
OpenEden
OpenEden’s progress through the period remains consistent with its positioning at the intersection of stablecoins and traditional finance.
At the core is USDO, a stablecoin fully backed 1:1 by tokenized U.S. Treasuries, alongside its underlying T-Bill fund carrying an AA+ rating from S&P. Rather than competing on narrative, the focus remains on reliability, yield generation, and institutional alignment.
The broader product suite continues to expand. This includes HYBOND, offering tokenized access to BNY Investments’ Global Short Duration High Yield Bond Fund, as well as newer structured products like PRISM, managed in collaboration with FalconX, one of the more established institutional brokerages in crypto.
On the institutional side, activity is surfacing more visibly. Galaxy Digital and DeFiance Capital executed an OTC transaction using USDO, signaling early adoption in real capital flows rather than purely onchain experimentation.
Team alignment has also been extended, with an additional 9-month lockup announced for advisors and core contributors, reinforcing longer-term commitment to the platform.
Overall, OpenEden remains relatively straightforward in its approach. It is not a high-volatility or narrative-driven asset, but a steadily developing layer of tokenized real-world yield.
For Beam, this reflects exposure to credible, institutional-grade financial primitives in areas like stablecoins and T-Bill-backed products.
Dreamcash
Dreamcash spent Q1 2026 doing one thing consistently, which is shipping and scaling usage around its CASH markets on Hyperliquid.
The quarter was marked by a strategic investment from Tether in Supreme Liquid Labs, the operating entity behind Dreamcash. This milestone reinforces Dreamcash’s mission to bring Hyperliquid’s products, including RWA perpetuals, to millions of traders worldwide.
Since launching USDT-collateralized markets earlier this year, Dreamcash has quickly established a foothold in the HIP-3 ecosystem. USDT pairs went from effectively zero presence to ~7.8% of total HIP-3 volume within a few months, signaling meaningful early adoption of its market structure.
Product velocity remained high throughout the quarter. New markets across equities and commodities such as WTI, silver, and major equities were introduced, while existing pairs saw repeated increases in open interest caps, in some cases scaling up to $50M, reflecting growing demand rather than purely speculative launches.
On the product side, Dreamcash continued refining the trading experience. Updates included full position management, cross-margin support on web, improved charting, and a more integrated interface across mobile, web, and desktop. Social and discovery features, including real-time chat and trade discovery, were also introduced, pointing toward a more interactive trading environment rather than a purely execution-focused one.
The platform also leaned into incentive design through Season 1, distributing $200K in weekly rewards tied to real activity such as open interest and volume, while introducing caps to limit exploitative behavior like wash trading.
In aggregate, CASH markets have already processed close to $10B in volume, indicating that the product is not just being tested, but actively used.
Overall, Dreamcash is still early, but Q1 shows clear signs of product-market fit within a fast-growing segment of onchain derivatives. The focus now shifts to whether this momentum can sustain as competition across perp DEX infrastructure continues to intensify.
Trial Extreme / Gameplay Galaxy
Gameplay Galaxy continued its transition from a single-title studio into a broader multi-game platform during Q1 2026.
Its flagship title, Trial Xtreme Freedom, is already showing early traction in limited release, surpassing 2M downloads and 40M races completed. Engagement metrics like tens of millions of in-game actions point to a player base actively interacting with the core gameplay loop, not just installing and dropping off.
Rather than leaning into Web3 narratives, the team has remained focused on mobile-first game quality. Messaging across the quarter consistently emphasized polish, competitive gameplay, and long-term retention over short-term hype.
At the same time, the scope is expanding. Gameplay Galaxy has formally positioned itself as a multi-game studio, with new titles such as Duels introduced as part of a growing portfolio. The direction suggests an interconnected ecosystem where each game contributes to a shared player base and progression layer, rather than operating as isolated releases.
Overall, Gameplay Galaxy is still early in its rollout, but the approach is becoming clearer. The focus is on building a foundation of games that can sustain engagement first, with broader ecosystem mechanics layered in over time.
Treasury dashboard
We have updated our treasury dashboard with the most recent data as of March 31st, 2026.
Following numerous community requests, we’ve added exciting new features to the treasury dashboard, with the most important being the ability to display our complete treasury balance, including our BEAM holdings. While we’re proud of our substantial non-native treasury, we also want to present the full picture.
As development continues to evolve, we welcome feedback through any of our social channels. Without further ado, we invite you to explore the current treasury status on our updated dashboard.
Visit the dashboard here - treasury.onbeam.com
Wallet overview
To operate completely transparently, we would like to provide a full list of wallet addresses the Treasury currently utilizes.
Beam
Binance smart chain
Ethereum
Ronin
Solana
Looking forward
As the broader market navigated a challenging quarter, the Treasury demonstrated relative resilience while the portfolio continued to mature across key verticals. Beam remains focused on disciplined capital allocation and supporting ecosystem growth through shifting market conditions.
All balances and prices are based on calculations made as of March 31st, 2026.
All investments made after March 31st, 2026 are not included in the Treasury report, unless specifically mentioned.