Beanstalk Farms · December 8th, 2022
Beanstalk Farms is pleased to announce that BIP-30—Generalized Pipeline and ERC-20 and ERC-721 Permit Support—has passed by a vote of the DAO.
BIP-30 was proposed by Beanstalk Farms to improve the composability and the economic efficiency of Beanstalk.
farmfunction such that Farmers can copy return values from any function call into the function calldata of subsequent functions; and
Pipeline is a sandbox contract which can be used to execute an arbitrary number of actions within the EVM from an externally-owned account (EOA) in a single transaction. Used in tandem with the Clipboard—a spec for copy-pasting calldata within Pipeline—Pipeline can bundle the following in a single transaction, for example:
This is how the Root UI can mint Roots in a single transaction using Beans or another stablecoin.
The Depot is a wrapper for the Pipeline that supports:
The combination of Pipeline, Depot and Clipboard allows EVM users to perform arbitrary valid actions, through arbitrarily many protocols, in a single transaction.
ERC-20 and ERC-721 Permit Support
This streamlines the Beanstalk UX by allowing Farmers to perform approvals through permits without the need for a separate transaction.
Sunrise Incentive Adjustment
BIP-30 reduces the base
sunrise incentive reward in order to minimize Bean sell pressure without sacrificing demand for
Currently, the majority of the transaction fee from
sunrise calls comes from the priority fee. Optimizing the base reward is expected to reduce the Beans that Beanstalk issues to pay for the
sunrise call by up to 60,000 Beans per month.
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.