Ep 16 - Count your magic beans Jack - Beanstalk is taking on the giants of stablecoins
Guest Info
Name of Guest: Publius
Name of Project: Beanstalk
Project Twitter URL: https://twitter.com/BeanstalkFarms
Project URL: https://bean.money/
Project/Guest Description: Beanstalk is a unique new algorithmic stablecoin based conceptually on ESD, but built from scratch to avoid the problems they had. Mission driven to build the primary stablecoin for DeFi, the team is fighting to deliver a powerful protocol that is permissionless, decentralized, and censorship resistant.
Show Notes
ESD influenced
Wanted to build something
Scalability
2nd biggest opportunity decentralized algo stablecoin
ESD design fixes
Game theoretic design flaws
Became all encompassing
9 months of dev
50 days ago deployed
ESD price too high increase supply
Ground up reimagining
Collateralized Models
USDT and USDC
$100 billion in collateralized
Reliance on centralized party to administer the system
Oracle is eth / usdc and bean/usdc
DAI
Basically add value
Collateral not decentralized
Still an element of centralization with DAI
Mint DAI against the CDP
More assets backing the DAI
Capital inefficient
Locking up Ethereum isn't a great solution
High borrowing costs to use DAI
Cost prohibitive
20% borrowing costs changes math on betting markets
No premine
Works from launch
Initial 100 minted
How beanstalk works
Every hour - season
Price oracle is queried
If price too high increase supply
If price too low, then soil debt
Pods are debt bearing asset of the system
When price is below to encourage debt
Supply of soil
Behavioral econ theory built into it.
Participation
Business Development
--- Support this podcast: https://anchor.fm/missiondefi/supportThank you for listening or watching our show.
I hope you are learning from the show.
Please consider a tip to offset the costs of production & allow us to do more.
Fantom, Polygon, Ethereum, or Avalanche: 0xa99fe8adce5a1a8efa8c1aa9eae4619b34bd23ee
or please take just a minute to rate and review us at Apple Podcasts. It really is a big help to boost the show.
Listen On
If you enjoy our shows and more importantly if you've learned from them, then any donation is appreciated.
Send any token on any EVM compatible chain to:
0x410e12b2bb9156d537f75367fd31690a4cc50138
Please let us know you sent us a donation, so we can thank you properly.
Featured Episodes
Mission DeFi - EP 26 - Sam Kazemian of Frax wants to replace the Cons…
How Frax is working to replace the CPI with a better, fairer model for an algo stablecoin that will benefit everyone. Guest Info Name of Guest: Sam Kazemian Name of Project: Frax Finance Twitter URL of Guest: https://twitter....
EP 20 - Scoopy Trooples & Alchemix are Building a Powerful Financial …
This is a pretty massive episode that covers the experience and stress of building a powerful and popular financial product in DeFi along with the details about version 2 of Alchemix that is a pretty massive move. Mission: De...
Ep 4 - Maki from Sushi Swap on building a true meritocracy & successf…
Running any startup is a bit nuts. Running one under the circumstances that Sushi faced is beyond all the norms and while Maki works hard to decentralize leadership, there's no mistaking that he is at the least guiding the te...
Mission DeFi - EP 36 - Sami Tannir & the team at Redacted are taking …
The Redacted Cartel took the DeFi world by a storm when they launched just 2 weeks ago with a model to own the Curve/Bribe wars and provide real value to investors and make it easier for protocols. After an amazingly …
Mission: DeFi EP 46 - Walken wants to drive millions of users to DeFi…
Walken is a highly successful mobile app company with dozens of high quality developers and a marketing machine that drives user signups for their apps. This has resulted in over 50 million downloads of their apps and $10 mil...
EP 41 - Emma Jane Mackinnon Lee of Digitalax is driven to decentraliz…
I interview a lot of amazing founders, but I haven't encountered very many as brilliant, driven, and mission-based as Emma Jane Mackinnon. She's driving her project Digitalax to transform the fashion industry with a powerful ...
Mission: DeFi EP 91 - Can Bancor come back from a massive failure? - …
There are a lot of failures in crypto and DeFi history. Exploits, hacks, and failure of models have all lead to billions in losses for average traders. Bancor, the original AMM, experienced such a failure in June of last year...
Mission: DeFi EP 90 - There's more to Arweave than you thought possib…
If you think Arweave is just a place to store NFTs permanently, then this episode is going to be a complete eye opener for you as it was for me. Sam Wiliams had an obsession with geopolitics that led him …
Mission DeFi EP 61 - Matt Luongo wants to get us out of the centraliz…
Tally Ho is an open source wallet and soon DAO to make wallets safer, easier to use and more powerful, while eliminating our centralized dependence on other wallet companies. The product is being built by Thesis headed by my ...
Mission DeFi EP 64 - Scoopy Trooples ( @scupytrooples ) from @Alchemi…
One of my favorite people in DeFi -> @scupytrooples is on Mission: DeFi. * Where @AlchemixFi is & what's next * What he would advise new founders about building in #DeFi * Do Kwon, the industry/market, the path forward and …
MIssion: DeFi - EP 55 The @BeanstalkFarms exploit what is was like, w…
The first doxxed video interview with a founder of Beanstalk farms - Ben Weintraub of @IsThisPublius. We cover the experience of the exploit, the path forward, and what they've learned. Fascinating insights into their experie...
Mission: DeFi EP 50 - Alex Svanevik founder of Nansen onchain analyti…
I can't think of a better guest for my 50th episode of the show. Alex Svanevik, his co-founders, and the team embody what DeFi is all about & their powerful model for growth is something from which we can all …
Mission DeFi EP 45 - Andrew Yang's Lobby3 is here to help advance #De…
Andrew Yang's Lobby3 is ready to educate the US Congress on how DeFi can help average people get ahead. I was a big supporter of Andrew Yang's during his presidential run. While I do believe that UBI is good policy, …
EP 15 - Zeus of Olympus DAO ($OHM)
## Guest Info Name of Guest: Zeus Name of Project: Olympus DAO (OHM) Twitter URL of Guest: https://twitter.com/ohmzeus Project Twitter URL: https://twitter.com/OlympusDAO Project URL: https://www.olympusdao.finance/ Project/G...