Beanstalk
Learning Library for Beanstalk
Last updated
Learning Library for Beanstalk
Last updated
Bean is Beanstalk's ERC-20 fiat stablecoin. It is categorized as an Algorithmic Stablecoin which oscillates around 1 USD.
As part of Beanstalk's peg maintenance, when the price of Bean is above 1 USD Beanstalk will mint Bean and distribute Beans evenly between Beanstalk Silo Depositors, the , and .
What is urBEAN and urBEAN:3CRV?
Upon Replant of Beanstalk, users who held Bean in the block prior to the exploit received 1 urBEAN for every pre-exploit Bean and 1 urBEAN LP for each whitelisted LP token.
urBEAN and urBEAN:3CRV are currently locked in a vesting period. The complete value is dependent on the recapitalization of Bean through sale of Fertilizer. Before 1 urBEAN can be ripened into 1 Bean, all Fertilizer must be sold and all Fertilizer debt must be repaid.
What is Fertilizer?
Fertilizer is a semi-fungible token that was issued by Beanstalk to recapitalize $77M in stolen liquidity.
Prior to the Replant of Beanstalk, Fertilizer was issued with a 500% ROI. After Replant the ROI dropped to 250% and then decreased by an additional 0.5% each season (every hour) until it reached its current 20% baseline. Fertilizer holders receive 1/3 of newly minted Beans within Beanstalk.
What are Pods?
Pods are the debt asset of Beanstalk and can currently be purchased for Bean or ETH on the . If Soil is available, Beans can be sown in exchange for Pods at the current Temperature (percentage ROI). The Pod Line receives 1/3 of newly minted Beans within Beanstalk on a FIFO (first in first out) basis.