1 hr 28 min
Publius of Beanstalk Farms: The Future of Algorithmic Stablecoins | #15 The NASJAQ Show
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- Technology
Beans are an algorithmic stablecoin that represent an evolution of stablecoins - kind of like going from USDC to DAI to FRAX to BEANS. The problem with USDC is that since each coin is backed by the collateral of $1 US Dollar, they can't grow the supply fast enough to keep up with demand. This means that interest rates on loans are extremely high (like 30-50%) and this is, of course, unsustainable for the average person. Beans is designed so that the supply can increase beyond USDC and other stablecoins to provide lower interest rate loans - the end goal is less than 0.1% interest rates. To get there, they've designed an algorithmic stablecoin based on credit and debt cycles instead of collateral.
Beans is still in the infancy stage - they are currently working on integrations with other protocols which will increase demand and therefore increase supply.
There are two ways to invest in beans right now - the silo or by sowing. Sowing gives you a fixed amount of pods based on the weather at the time of sowing, you go to the back of the pod line and wait for them to harvest. Each pod turns into one bean, which should be worth approximately $1 (algo-stable). Silo-ing entitles you to passive income through receiving an amount of beans every season (hour) based on your ownership percentage of the Silo - half of all beans minted go to the Silo, the other half go towards moving up the pod line.
You can read the whitepaper here: https://bean.money/docs/beanstalk.pdf
Or follow bean_merchant for incredibly simple breakdowns (and good memes): https://twitter.com/bean_merchant
ALSO: This podcast was recorded a few weeks ago. Since beanstalk is constantly moving forward - some numbers may be outdated! But the ideas still stand. Hope everyone had a good thanksgiving!
~~~~~ NOT FINANCIAL ADVICE - DO YOUR OWN RESEARCH ~~~~~
As always, go follow us on twitter, linked below. If you enjoyed this, definitely tweet your thoughts at us or share the episode!
Follow the Bean Protocol here: https://twitter.com/BeanstalkFarms
Site: https://bean.money/
Me: https://twitter.com/nasjaq__
WATCH to the podcast:
https://youtu.be/EH5Ms-7QMVc
All podcast hosts: https://anchor.fm/nasjaq
FIND ME:
Intermittent writings (terrapunk manifesto soon): https://nasjaq.substack.com/
Initial terrapunk tweet: https://twitter.com/terrapunk/status/1444410112685133825
Twitter: https://twitter.com/nasjaq__
CAMEO (new): https://www.cameo.com/nasjaq
MERCH: https://nasjaq.shop/
Tiktok: https://www.tiktok.com/@nasjaq
All my links: https://beacons.page/nasjaq
---
Send in a voice message: https://podcasters.spotify.com/pod/show/nasjaq/message
Support this podcast: https://podcasters.spotify.com/pod/show/nasjaq/support
Beans are an algorithmic stablecoin that represent an evolution of stablecoins - kind of like going from USDC to DAI to FRAX to BEANS. The problem with USDC is that since each coin is backed by the collateral of $1 US Dollar, they can't grow the supply fast enough to keep up with demand. This means that interest rates on loans are extremely high (like 30-50%) and this is, of course, unsustainable for the average person. Beans is designed so that the supply can increase beyond USDC and other stablecoins to provide lower interest rate loans - the end goal is less than 0.1% interest rates. To get there, they've designed an algorithmic stablecoin based on credit and debt cycles instead of collateral.
Beans is still in the infancy stage - they are currently working on integrations with other protocols which will increase demand and therefore increase supply.
There are two ways to invest in beans right now - the silo or by sowing. Sowing gives you a fixed amount of pods based on the weather at the time of sowing, you go to the back of the pod line and wait for them to harvest. Each pod turns into one bean, which should be worth approximately $1 (algo-stable). Silo-ing entitles you to passive income through receiving an amount of beans every season (hour) based on your ownership percentage of the Silo - half of all beans minted go to the Silo, the other half go towards moving up the pod line.
You can read the whitepaper here: https://bean.money/docs/beanstalk.pdf
Or follow bean_merchant for incredibly simple breakdowns (and good memes): https://twitter.com/bean_merchant
ALSO: This podcast was recorded a few weeks ago. Since beanstalk is constantly moving forward - some numbers may be outdated! But the ideas still stand. Hope everyone had a good thanksgiving!
~~~~~ NOT FINANCIAL ADVICE - DO YOUR OWN RESEARCH ~~~~~
As always, go follow us on twitter, linked below. If you enjoyed this, definitely tweet your thoughts at us or share the episode!
Follow the Bean Protocol here: https://twitter.com/BeanstalkFarms
Site: https://bean.money/
Me: https://twitter.com/nasjaq__
WATCH to the podcast:
https://youtu.be/EH5Ms-7QMVc
All podcast hosts: https://anchor.fm/nasjaq
FIND ME:
Intermittent writings (terrapunk manifesto soon): https://nasjaq.substack.com/
Initial terrapunk tweet: https://twitter.com/terrapunk/status/1444410112685133825
Twitter: https://twitter.com/nasjaq__
CAMEO (new): https://www.cameo.com/nasjaq
MERCH: https://nasjaq.shop/
Tiktok: https://www.tiktok.com/@nasjaq
All my links: https://beacons.page/nasjaq
---
Send in a voice message: https://podcasters.spotify.com/pod/show/nasjaq/message
Support this podcast: https://podcasters.spotify.com/pod/show/nasjaq/support
1 hr 28 min