Beanstalk, a credit-based stablecoin, has rebooted on the one-year anniversary of its launch—and never fairly 4 months since it was hacked for $182 million.
“The Beanstalk experiment is out within the wild as soon as once more,” mentioned a press release on the venture’s web site.“It’s impossible to predict how it will perform, however Beanstalk Farms’ perception within the potentialities for a permissionless fiat stablecoin is unwavering.”
Stablecoins are designed to carry a 1-to-1 peg with fiat currencies, such because the U.S. greenback. Prime stablecoins like Tether ostensibly do this by holding collateral, whereas Beanstalk maintains the worth of its BEAN coin with an algorithm.
In the present day, Beanstalk Farms is thrilled to announce that Beanstalk has been Unpaused on the one 12 months anniversary of its preliminary deployment.https://t.co/HxZmwWksZe