Bi-Weekly Bean #1

Welcome to the Bi-Weekly Bean, a series where we recap Beanstalk related news from the past two weeks. This issue covers 3/01/22–3/15/22.

What is Beanstalk? Beanstalk is a decentralized credit based stablecoin protocol built on Ethereum. Learn more at bean.money

Protocol Summary

The price of BEAN has remained tightly pegged over the last two weeks, with a maximum single-Season TWAP deviation of -$0.026. In the past week, price has remained mostly above peg, resulting in 1,268,099 newly-minted Beans since the beginning of March.

The recent increased demand for Bean is reflected in Beanstalk’s Pod Rate - the ratio of Unharvestable Pods to total Beans - which has begun to soften, and the protocol’s overall liquidity, which began kicking up materially on March 14th.

Weather reversed its upward trend around March 11th as a result of BIP-13’s commitment. The BIP adjusted Weather Changes so that when demand for Soil is decreasing and P > 1, Weather does not change.

Protocol Updates

• Version 1.8.0 of the whitepaper, which reflects the changes to the Silo made by BIP-12.
• BIP-13: Adjustment to Weather Changes has been committed.

Beanstalk Farms Updates

• An embedded Swap widget built by Uniswap which allows users to swap Beans to and from arbitrary tokens on Uniswap directly on app.bean.money. The currently-whitelisted tokens include ETH, DAI, FEI, FRAX, FXS, UNI, USDC, USDT and WBTC
• An upgrade to the Silo interface on bean.money that reintroduces an APY metric for both Beans and Stalk.
• Tally Wallet integration is in progress.
• Beanstalk YouTube channel is live.
• The first Beanstalk Poker Tournament was hosted by Bean Sprout on March 5th, 2022.
• Serotonin is onboarded as Beanstalk’s marketing agency.
• First draft of the new Beanstalk style guide is out.
• Liquity integration is in the testing phase.
• New Beanstalk merchandise is available to order.
• Beanstalk Dune Analytics page is updated with a Farmers Market section.