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/biz/ - Business & Finance

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54941686 No.54941686 [Reply] [Original]

It's happening. The sows have started. You have exactly 5 weeks to grab as many pods as you can before soil becomes scarce again and the slaps start. And when Beanstalk slaps, it slaps hard.

>> No.54941709

Explain to me how this works in simple terms

>> No.54941824

>>54941709
People are buying Beans and lending those Beans to the Beanstalk protocol for a return with a fixed interest rate of 11865%. Beanstalk then burns these Beans, reducing the total supply, making it easier to return Bean to its soft peg of 1 US dollar.

>> No.54941871

>>54941686
Isn't this the same protocol that got hacked for hundreds of millions? Kek

>> No.54941922

>>54941871
correct. $76 million worth of non-bean assets were stolen in the governance exploit. It managed to attract $14 million of capital upon re-plant, leading it to where it is now. What we're seeing now is people taking advantage of the high interest rate of return whilst still available, probably because in the near future such returns will not be available.

>> No.54941924
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54941924

>>54941686

I have no idea what you just said

>> No.54941951

>>54941924
At the moment there is a large amount of soil available to sow Beans into. Soil is Beanstalk's debt offering, it's one of the ways it try's to bring the price of 1 Bean back to 1 US dollar. By sowing Beans into soil, you're essentially buying Beans off the open market and lending them to Beanstalk for a fixed interest rate of 118X on your principle, should Beanstalk ever get to the state where it can mint enough Beans to pay you back.

>> No.54942031

>>54941686
Suspicious!
Ponzi Scam?