Beanstalk Farms · July 24th, 2022

Anticipated Replant Timeline

Beanstalk Farms shares a final draft of BIP-21 and announces an anticipated timeline for Replant.

Today, Beanstalk Farms is excited to announce an anticipated Replant timeline, culminating in the Unpausing of Beanstalk on the protocol’s one-year anniversary—August 6, 2022. This timeline is subject to change, especially if any unexpected roadblocks are encountered such as a major protocol bug during ongoing testing.

In these final days before the Replant, Beanstalk Farms, Bean Sprout and Publius would like to extend our gratitude to the Beanstalk community—not only for giving Beanstalk a second chance at life over the last few months, but for being an active participant in that process.

We believe that the best days on the Farm are yet to come!

Anticipated Replant Timeline

Monday, July 25th

  • 9:00am PT / 12:00pm ET in the Discord: Final drafts of BIP-21, Beanstalk 2.0 and Beanstalk Whitepaper 2.0 are published for Farmers to review and comment on—visit the #bip-21-replant-beanstalk channel to discuss in Discord.

Tuesday, July 26th

  • 4:30pm PT / 7:30pm ET in the Discord Town Hall: Special Beanstalk University discussion about BIP-21, in addition to the Water Treatment, Replant and Unpause timeline.

Thursday, July 28th

  • 10:00am PT / 1:00pm ET in the Discord Town Hall: Beanstalk DAO weekly meeting, featuring a final discussion of BIP-21.

Friday, July 29th

  • Around 9:00am PT / 12:00pm ET: BIP-21 is proposed on Snapshot.

Upon passage of BIP-21 (Friday, August 5th or upon reaching supermajority)

  • Beanstalk UI becomes unavailable during Replant process.
  • Remainder of the Water Treatment is applied, per BIP-20.
  • Ownership of the Beanstalk contract is transferred from Publius to the Beanstalk Community Multisig (BCM).
  • Beanstalk is Replanted, after which:
    • the Humidity (the interest rate on Fertilizer purchases) is reduced to 250%;
    • non-Deposited Unripe assets can be Picked and Deposited;
    • the new Bean token becomes available for trading in the new BEAN:3CRV metapool;
    • the Silo is reopened for Deposits; and
    • the Pod Market is reopened for buying and selling Plots.
  • USDC from the BCM is added as liquidity to the BEAN:3CRV pool.
  • Beanstalk UI V2 goes live.

Saturday, August 6th

  • Around 9:00am PT / 12:00pm EST: Beanstalk is Unpaused by the BCM.
  • Shortly thereafter, the sunrise() function may be called by any Ethereum address.

About Beanstalk

Beanstalk is a decentralized protocol that allows anyone to realize the value of an open, permissionless fiat stablecoin. The Beanstalk community of lenders, borrowers and savers secures a protocol-native stablecoin, Bean, with the goal of creating the world’s most accessible digital money system. By eliminating collateral requirements, Beanstalk can be the catalyst for a trustless money that unlocks the potential of decentralized finance for everyone.