“The Barn Raise” is an opportunity to participate in an organically reached protocol. $ 100 million Market capitalization just 9 months after first launch
As part of its fundraising efforts, Beanstalk will also launch a 10,000-item NFT series called The BarnRaise NFT Collection, aimed at celebrating the spirit of Beanstalk community members.
New York , June 2, 2022 / PRNewswire / ―――― Beanstalk, a decentralized credit-based stablecoin protocol, officially announced “The Barn Raise,” a fundraiser to restore. $ 77 million It is part of the liquidity stolen from the protocol during a recent governance exploit, further recapitalizing pre-exploit participants. “Burn Raise” begins June 6th and 12:00 pm ET And it continues until all “fertilizer” tokens (burn raise tokens that act as proof of participation) are sold.
Beanstalk will officially resume after two separate security audits have been completed. The reopening date may be early July. Details of “The Barn Raise” below and Beanstalk’s plans to improve governance and security structures.
Beans Talk will be borrowed during the “Burn Rays” $ 77 million From the market in exchange for debt with interest of up to 500%. 77M Fertilizer tokens are sold for 1 USDC each. To promote the interest earned, each fertilizer token holder is proportional to one-third of the newly made beans (Beanstalk’s native stablecoin) until the debt to the fertilizer holder is fully repaid. Receive the distribution. The terms of “The Barn Raise” were approved by a vote of Beanstalk Governance Token holders before the exploit, in favor of approval of the current plan, accounting for about 97% of the voting share.
As part of “The Barn Raise,” Beanstalk will launch a 10,000-item NFT series called The Barn Raise NFT Collection. This will be offered to the first 10,000 participants who donate at least 1,000 USDC before Beanstalk resumes.
already, ~ $ 10 million (15% of available fertilizer tokens) is committed to “The Barn Raise”. Prior to the recent exploit, Beanstalk began proof-of-concept as DeFi’s only decentralized, credit-based stablecoin protocol. $ 100 more than $ 100 million Total assets over 9 months show resilient price stability against the dollar.
Beanstalk DAO is working to work on, repair and strengthen the governance structure in the future. To avoid governance issues during the exploit, Beanstalk will be managed through a new community-run multisig wallet managed by a group of nine Beanstalk community members and contributors. -A decentralized governance mechanism has been developed, well audited and implemented.
For media inquiries about Beanstalk, please contact us. Keelen Weisert and kieren@thetascgroup.com, Beanstalkfarms@thetascgroup.com Or call 606-304-9278.
Click here for more information on “The Barn Raise” and how to participate. here..
About Beanstalk
Beanstalk is an Ethereum native decentralized protocol that allows anyone to realize the value of open credit-based stablecoins (currencies that regularly exceed certain values). The Beanstalk community of lenders, borrowers and savers is protecting Bean, a protocol-native stablecoin, with the goal of creating the world’s most accessible digital money system. Click here for more information on Beanstalk here..
contact: Keelen Weisert
phone: 606-304-9278
Email: kieren@thetascgroup.com
Beanstalkfarms@thetascgroup.com
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