Today, Beanstalk Farms is thrilled to announce that Beanstalk has been kicked off the one year anniversary of its initial deployment. https://t.co/HxZmwWksZe
— Beanstalk Farms (@BeanstalkFarms) 6 August 2022
Beanstalk, a credit-based stablecoin, has relaunched on the one-year anniversary of its launch.—and it hadn’t been four months since it was hacked for $182 million.
,The beanstalk experiment is out in the wild once again,said a statement on the project’s website. ,It is impossible to predict how it will perform, but Beanstalk Farms has unwavering faith in the prospects of an unrestricted stablecoin.,
Stablecoins are designed to be pegged 1-to-1 with fiat currencies such as the US dollar. Top stablecoins such as Tether do this by holding collateral, while Beanstalk maintains the value of its Bean coin with an algorithm.
Today, Beanstalk Farms is thrilled to announce that Beanstalk has been kicked off the one year anniversary of its initial deployment. https://t.co/HxZmwWksZe
— Beanstalk Farms (@BeanstalkFarms) 6 August 2022
,By eliminating collateral requirements,“The statement continued, ,Beanstalk could be a catalyst for trustworthy wealth that unlocks the potential of decentralized finance for all.,
The $182 million exploit remains the largest ever exploited.
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