Beanstalk Farms · March 23rd, 2022
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
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.
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