Beanstalk Farms · January 1st, 2023

Bi-Weekly Bean #18

This issue covers Seasons 9209 through 9599 which spanned 12/16/22 – 12/31/22.

Welcome to the Bi-Weekly Bean, the newsletter that recaps the latest developments in the Beanstalk ecosystem.

This issue covers Seasons 9209 through 9599 which spanned 12/16/22 – 12/31/22.

What is Beanstalk? Beanstalk is a permissionless fiat stablecoin protocol built on Ethereum. Learn more at bean.money.

Beanstalk Governance Updates

  • BOP-2, which seeks to increase the bounty for Beanstalk’s April 2022 exploit, passed by a vote of the Beanstalk DAO.
  • BIP-31, the Q1 2023 budget for Beanstalk Farms, has been proposed on Snapshot. Vote here.
  • BIP-32, an implementation of Seraph - a blockchain security notary service offered by Halborn - has been proposed on Snapshot. Vote here.
  • BFCP-C-2, the BFC’s Q4 2022 Term Extension, has been proposed on Snapshot. Vote here.
  • Halborn completed its full re-audit of Beanstalk.

Feel free to drop by Beanstalk’s Discord if you have any questions—the Beanstalk community is full of curious Farmers who enjoy answering questions and discussing interesting ideas.

Protocol Summary - Seasons 9209-9599

The price of Bean crossed its peg 0 times and protocol liquidity decreased 0.8% to ~$26.4M.

The Pod Rate (outstanding Pods per Bean) decreased 0.2 points to 2287%.

The Temperature increase by 521 points to 5825%.

Notes and Recordings

Beanstalk Farms Updates

Audits in Progress

  • BIP-X: Sunrise Improvements — undergoing changes and re-audit
  • BIP-X: Remove Withdraw Timer — undergoing audit
  • Tractor (Automated Farming) — nearly ready for audit

Community Updates

Other Beanstalk Ecosystem Updates

  • Root token holders may vote on RSP-2, a re-posting of BIP-31. The outcome of RSP-2 determines whether the Root DAO’s cumulative Voting Roots participate in the BIP-32 vote
  • Root token holders may vote on RSP-3, a re-posting of BIP-32

Thanks for reading!

If you have any comments, suggestions or feedback, please reach out to [email protected]


Subscribe

Subscribe to The Bi-Weekly Bean and we'll send major Beanstalk updates straight to your inbox.