Ep 16 - Count your magic beans Jack - Beanstalk is taking on the giants of stablecoins

<h2>Guest Info</h2> <p>Name of Guest: Publius<br> Name of Project: Beanstalk<br> Project Twitter URL: <a href="https://twitter.com/BeanstalkFarms" rel="noopener" target="_blank">https://twitter.com/BeanstalkFarms</a><br> Project URL: <a href="https://bean.money/" rel="noopener" target="_blank">https://bean.money/</a></p> <p>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.</p> <h2>Show Notes</h2> <p>ESD influenced<br> Wanted to build something<br> Scalability<br> 2nd biggest opportunity decentralized algo stablecoin<br> ESD design fixes<br> Game theoretic design flaws<br> Became all encompassing<br> 9 months of dev<br> 50 days ago deployed<br> ESD price too high increase supply<br> Ground up reimagining</p> <p>Collateralized Models<br> USDT and USDC<br> $100 billion in collateralized<br> Reliance on centralized party to administer the system</p> <p>Oracle is eth / usdc and bean/usdc</p> <p>DAI<br> Basically add value<br> Collateral not decentralized<br> Still an element of centralization with DAI<br> Mint DAI against the CDP<br> More assets backing the DAI<br> Capital inefficient<br> Locking up Ethereum isn't a great solution<br> High borrowing costs to use DAI<br> Cost prohibitive<br> 20% borrowing costs changes math on betting markets</p> <p>No premine<br> Works from launch<br> Initial 100 minted</p> <p>How beanstalk works<br> Every hour - season<br> Price oracle is queried<br> If price too high increase supply<br> If price too low, then soil debt<br> Pods are debt bearing asset of the system<br> When price is below to encourage debt<br> Supply of soil</p> <p>Behavioral econ theory built into it.</p> <p>Participation</p> <p>Business Development</p> --- Support this podcast: <a href="https://anchor.fm/missiondefi/support" rel="payme