Tag: What is Beanstalk?

Beanstalk is a decentralized credit-based stablecoin project with its native BEAN token pegged to one dollar. With the recent exploit of Beanstalk, BEAN lost its dollar peg after an attacker was able to manipulate the platform's governance proposals. Although the project is still standing after the community regrouped, many wonder what Beanstalk is doing to solve the issue and move forward. Herein, we'll address the exploit and answer what Beanstalk is and what part the BEAN token plays in its ecosystem.