Beanstalk Farms · August 2nd, 2022

Bi-Weekly Bean #8

A newsletter that recaps the latest happenings in the Beanstalk ecosystem. This issue covers the 7/16/22– 8/01/22 period.

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

Mark your calendars, we have a date! On August 6, 2022 at around 16:00 UTC, Beanstalk will be Unpaused per BIP-21, the proposal to Replant Beanstalk.

If you haven’t voted, you can do so here.

BIP-21 primarily does three things:

  1. Executes a series of transactions to Replant Beanstalk.
  2. Commits a series of upgrades to Beanstalk.
  3. Unpauses Beanstalk.

Upon the passing of BIP-21, Humidity will drop from 500% to 250%. You can read more about the BIP here.

Moreover, the first 4 BFCP-As have been proposed on Snapshot. BFCP-As are proposals to be on the Beanstalk Farms Committee that has discretion over the BF budget, including contributor compensation. The proposals will require a 25% quorum (currently ~53M Stalk) and majority vote For in order to pass. You can read the proposals and vote here. You can also read more about the BFC in BFP-81, which proposed several updates to the governance structure of Beanstalk Farms.

Trail of Bits completed a formal audit of Beanstalk’s smart contracts on July 22, 2022. You can read more about the audit and the reports here.

Three episodes of the The Bean Pod are live:

  • Episode 14: Liquity & Chicken Bonds,
  • Episode 15: Price oracles with Tellor CTO Nick Fett; and
  • Episode 16: Cybersecurity with Halborn CTO Steven Walbroehl

Lastly, feel free to drop by Discord if you have any questions—the community is always available to help and answer questions.

Replant Timeline

  • Trail of Bits audit concluded
  • Replant Beanstalk on the passage of BIP-21
  • Unpause Beanstalk on August 6 at around 16:00 UTC

Beanstalk Farms Updates

Comments, suggestions or feedback? Please reach out to [email protected]