Beanstalk Farms · August 6th, 2022
Today, Beanstalk Farms is thrilled to announce that Beanstalk has been Unpaused on the one year anniversary of its initial deployment.
Beanstalk was initially deployed to Ethereum mainnet on August 6, 2021. In the ~8 months that followed, Beanstalk organically grew to $100M in market cap and attracted $144M in long-term incentivized liquidity until the governance exploit on April 17, 2022. Since then, Beanstalk Farms and Bean Sprout have worked with the Beanstalk community to prepare the protocol for a safe Replant and Unpause.
Now, the Beanstalk experiment is out in the wild once again. It’s impossible to predict how it will perform, but Beanstalk Farms’ belief in the possibilities for a permissionless fiat stablecoin is unwavering.
Happy birthday to 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.
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