Core terms and definitions

Ask Price

The price in which a seller is willing to sell their asset.


The most senior debt of a tranche contract which holds the safest portion.


The ERC-20 fiat stablecoin issued by Beanstalk.

Bean Denominated Value (BDV)

The value of an asset denominated in Beans. Used to calculate how many Stalk and Seeds are rewarded to Beanstalk depositors. Abbreviated as BDV.


The Ethereum-native, decentralized fiat stablecoin protocol that issues Beans.

Bid Price

The price in which a buyer is willing to buy an asset.


The middle risk of a tranched asset.

Cross Protocol Swaps

The buying and selling of tokenized debt and bonds across protocols.


The shortage or excess of Beans in a liquidity pool Beans trade in.


Irrigation ledger asset that tracks underlying asset value, nominated at 1 USD.


Users of Irrigation.


An ERC-1155 token that Beanstalk mints in exchange for USDC. Fertilizer comes with Sprouts, which represent debt to be repaid by Beanstalk in the form of new Beans. Fertilizer has no fixed maturity. Fertilizer can be Available (not sold yet), Active (is owed Bean mints through Sprouts) or Used (is done earning Bean mints).

Harvestable Pods

Pods that are redeemable for 1 Bean each. Harvestable Pods must be Harvested in order to use them.

Irrigation Flywheel

A virtuous cycle of reward and reinvestment where Farmers increase the value assets by redeploying them through the Irrigate function.

Irrigation Tools

DeFi instruments created by Irrigation Protocol which provide holders additional liquidity and rewards.


Decentralized and censorship-resistant reserve currency that is asset-backed, deeply liquid and used widely across Web3.

Pod Line

The order Pods will become Harvestable based on the FIFO Harvest schedule.

Pod Market

The decentralized, trustless market that Pods can be bought and sold on through Beanstalk.

Pod Rate

The Beanstalk debt level (Pod supply) relative to the Bean supply. The Pod Rate is often used as a proxy for Beanstalk's health.


The Beanstalk-native debt asset, redeemable for 1 Bean each once Ripened into harvestable pods.

Ripe Assets

Assets that are minted as Fertilizer is sold. Unripe assets represent a pro rata share of underlying Ripe assets.


When Pods passively turn into Harvestable Pods, they Ripen.


Spot is an inflation-resistant store of value which is a freely redeemable claim on a basket of on-chain collateral. Spot documentation


Irrigation Tool that allows users to deposit assets in exchange for the Water token.


Sprouts represent how many Beans there are left to be earned from Fertilizer.


The Beanstalk governance token. Stalk entitles the holder to a pro rata share of future Bean mints and participation in Beanstalk governance.


Depositing Water in the Water Tower, making the user eligible for monthly rewards.

Unripe Assets

Unripe assets represent a pro rata share of Ripe assets minted as Fertilizer is sold and debt is repaid to Fertilizer.


Removing Water from the Water Tower.


Unripe Beans. See Unripe Assets


Unripe Bean LP tokens. The liquidity pool on Curve contains Bean paired with DAI, USDC, and USDT. See Unripe Assets


Water is the ERC-20/ERC-1155 native utility token of Irrigation Protocol. By storing Water in the Water Tower, users become eligible for a proportionate amount of distributed monthly ETH rewards.

Water Tower

Water can be stored in the Water Tower to earn ETH rewards.

Whitelisted Assets

Assets redeemable for Water through the Sprinkler.


Junior debt of a tranched contract which holds the equity portion.

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