Beanstalk Farms · August 18th, 2022
What is Beanstalk? Beanstalk is a permissionless fiat stablecoin protocol built on Ethereum. Learn more at bean.money.
It’s on, Farmers! Beanstalk is Unpaused!
Beanstalk Unpaused on August 6, marking the one year anniversary of its initial deployment. If you couldn’t make the event, here is a link to the Unpause Twitter Spaces.
BIP-22 and BIP-23, the Q3 budget proposals for Beanstalk Farms and Bean Sprout, respectively, have both passed. Beanstalk Farms plans to use their budget to retain, grow and support a group of core contributors. Bean Sprout plans to use their budget to seed, grow and support various Beanstalk-related integrations, projects and initiatives.
Two new episodes of the The Bean Pod are live:
Feel free to drop by Discord if you have any questions—the community is always available to help and answer questions.
Beanstalk Unpaused with the price of Bean at $1.07 and a ramped up deltaB minting schedule of 1% per Season for the first 100 Seasons. The ramp up period, along with demand for Beans, led the price of Bean to peak at $1.16 and then settle down back to $1.00. Beanstalk Unpaused with ~$28M in liquidity. Shortly after Unpause, Beanstalk attracted ~$10M of liquidity for a total of ~$38M, followed by an exit of ~$7.7M as of 8/16.
Beanstalk managed the sell-off through its credit facility, the Field, and Conversions within the Silo. The Field continued to attract strong demand for Soil, issuing ~80M Pods at a high Pod Rate, further underscoring Beanstalk’s strong credit.
The strong demand for Soil is reflected in the Temperature which has continued on a downward trend since Unpause.
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