Beanstalk, the Monetary Experiment Addressing Inefficiencies of Hard Money, Announces Protocol Improvements

Beanstalk, which claims to be the “pioneering” monetary experiment built to address the inefficiencies of hard money, announces a series of protocol improvements voted in by the DAO.

With the upcoming series of Mayflower Updates, the protocol and its DAO are focused on the task of “propelling the Beanstalk ecosystem into a new chapter of innovation and progress.”

Publius, Founder of Beanstalk, said:

“The Mayflower updates have been in development for a while and we are excited to finally see the hard work and perseverance of the DAO and Beanstalk Farms come to fruition. The three main elements of the update improve ecosystem efficiency and are three crucial stepping stones to the resiliency and stability of Beanstalk.”

The Mayflower Update “consists of three main elements aimed at enhancing the Beanstalk ecosystem: changes to the Sunrise system, Silo V3 improvements, and the launch of Basin DEX.”

Sunrise Improvements

With the goal of optimizing the peg mechanism and increasing overall efficiency, sunrise Improvements “are the first step of the Mayflower rollout.”

These will introduce “a Dutch auction during the first 25 blocks of a Season for dynamic scaling from 1% to 100% of the maximum temperature.”

Additionally, the variable reward structure “for calling the Sunrise function aligns with Ethereum gas costs and $BEAN price, streamlining operations and reducing unnecessary BEAN issuance.”

Silo Transformation

Upgrades to Silo, the depositors of which “power the Beanstalk DAO will see enhanced user experience and composability.”

The changes “include removing the Withdrawal Timer for Deposits, tokenizing deposits as ERC-1155s, enabling dynamic Seeds per BDV adjustments by the DAO, and achieving Seed reward parity between Unripe BEAN and Unripe BEAN:3CRV.”

These upgrades “unlock DeFi composability, improve user experience, and facilitate a return to peg.”

Basin, Wells, and Pumps

Basin DEX emerges “as a multi-block MEV-resistant platform that offers LPs a high level of customization.”

Wells, representing liquidity pools, and Pumps, “acting as price oracles, work together to optimize trading and provide cost advantages.” Basin’s unique features “address challenges faced by traditional DEXs, ensuring increased MEV resistance and reduced data storage costs.”

Through these developments, Beanstalk aims “to create a stable and efficient monetary system, fostering wider DeFi adoption and offering users a resilient and accessible ecosystem.”

The community “awaits the implementation of the Mayflower Update and looks forward to the upcoming projects, including the Gauge System and on-chain governance.”

As noted in the update shared with CI, Beanstalk is “a monetary experiment designed to solve inefficiencies in the traditional fiat system.”

With its low-volatility stablecoin governed by the community, Beanstalk aims “to provide stability, decentralization, and competitive carrying costs in the decentralized finance space.”


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