ETH Beans is a decentralized application (dApp) in Thoreum Ecosystem that forked from Baked Beans v2 with key sustainability enhancements that can make the contract live much longer. ETH Beans allows users to invest in a rewards pool using ETH and earn 3%-6% rewards daily.
ETH Beans utilize the THOREUM-ETH as an underlying asset. Because Thoreum is a hyper deflationary token, your rewards tend to be much higher in the long run (THOREUM's value has been increased 150% in the last 5 months).
1. ETH Beans Contract is fully decentralize & immutable.
2. ETH Beans uses ETH-THOREUM LP instead of BNB.
3. Added sustainability mechanisms to prevent big whales from draining the contract --> the project will live longer and bring more benefit to all users.
ETH Beans is a dApp (decentralized application) that can be accessed through a Web3 browser or wallet extension, such as Metamask or Trust Wallet.
It is important to use verified links and never share your seed phrase with anyone.
The dApp has three basic functions: investing (Buy beans), compounding your investment (Rebake beans), and earning money (Eat beans).
When you use the dApp to invest your ETH (or BUSD/BNB/THOREUM/etc..), the smart contract will automatically convert it to THOREUM-ETH LP and deposited into the contract and lock it. You will receive "beans" that represent your ownership of tokens, which will generate passive income. Enter your amount, click "Buy Beans" and approve the next two transactions. (Approval + Buy).
Your deposit will be automatically converted to THOREUM-ETH LP and deposited into the contract. You will receive "beans" that represent your ownership of tokens, which will generate passive income.
Firstly, because THOREUM is a hyper-deflationary token the value of THOREUM-ETH LP tends to be higher in the long run.
Take the case of THOREUM-BNB LP: THOREUM-BNB LP's value increased from ~$12 in Jul 15th to ~$25 in Jan 15th 2023 when we launched BNB Garden. The Thoreum-BNB LP price x2 only after 5 months. Which means your income from the contract's rewards in the form of THOREUM-BNB LP is now worth x2.
Example: The value of THOREUM-ETH LP increases 2 times after 5 months.
That means your real income increased by 2 times = 6% to 12% a day.
Secondly, ETH is leading the world of crypto and will go up at least x10 in the next bull run, if you are an ETH believer, don't hesitate to park your ETH in ETHBeans and see your holdings tripled in a few months times!
However, when the market price of tokens fluctuates greatly, the staking amount may be lower or higher than the staked amount, which is called Impermanent Loss.
Because ETH Beans is using THOREUM-ETH LP to maximize your earning over time, after withdraw/collect you can use the Unzap button in the interface to unzap your LP to ETH if you want. This just take 1 click and your LP will be instantly converted to ETH!
The rebake function allows you to compound your current rewards. You must have at least 0.008 ETH ($12.78) or 0.2 THOREUM-ETH LP in rewards before using this function. Once you have enough rewards, you can use the "Rebake Beans" button to invest them into the locked TVL. You can only Rebake once per 24 hours. This will reset your rewards counter to zero and increase the number of "beans" you have, based on the amount in the TVL and the number of rewards you compounded.
The Eat Beans function allows you to withdraw your ETH from the dApp to your wallet. The amount you receive will vary depending on the day you choose to withdraw, as explained on the next section. There is no min amount to “Eat Beans”.
Day 1 – Eating Beans incurs 90% Tax (0-24 hours)
Day 2 – Eating Beans incurs 80% Tax (25-48 hours)
Day 3 – Eating Beans incurs 70% Tax (49-72 hours)
Day 4 – Eating Beans incurs 60% Tax (73-96 hours)
Day 5 – Eating Beans incurs 50% Tax (97-120 hours)
Day 6 – Eating Beans incurs 40% Tax (121-144 hours)
Day 7 – Eating Beans incurs 30% Tax (145-168 hours)
Day 8 – Eating Beans incurs 20% Tax (169-192 hours)
Day 9 – Eating Beans incurs 10% Tax (193-216 hours)
Day 10 – No Loss incurs | Standard fees (216-240 hours)
Day 11 – Resets back to Day 1
Note 1: Only "Eat Beans" will reset your timer. New deposits and compound will not interrupt it. Taxes will be fully distributed to the community or used for external revenue building.
Note 2: To keep the longevity of the contract, each time you "Eat Beans" your daily rewards will be reduced by 0.5%. This will encourage users stay longer in the contract and attract more investors. At anytime, you can deposit an amount >= 1/2 your last ate amount to increase it back by 0.5%.
- For example: On the 10th days you ate (withdraw) 10 LP. So your daily rewards is reduced to 2.5%. To get it back to normal, you can deposit 5 LP back to the pool at anytime.
Note 3: Compound fee is equal to 1 withdrawal and 1 re-deposit, the different is all of these fees will stay in the contract to make it live longer.
Note 4: If a user is not active ( no deposit, no compound, no withdraw) for a full 10 days he/she will not get any more than 10 days of rewards.
Refer friends and receive an instant 5% one-time bonus worth of beans into your account, regardless of their deposit amount.
Every referral with a deposit over 0.1 ETH will count as "Beantastic". Beantastic referrals increase your daily return.
0-9 Beantastic referrals - 3% total daily rewards
10-24 Beantastic referrals - 3.5% total daily rewards
25-49 Beantastic referrals - 4% total daily rewards
50-99 Beantastic referrals - 4.5% total daily rewards
100-149 Beantastic referrals - 5% total daily rewards
150-249 Beantastic referrals - 5.5% total daily rewards
250+ Beantastic referrals - 6% total daily rewards
In ETHBeans, ‘Safety Index Adjustment’: Smart brake mechanism ensuring current investors’ benefit, prevent whales from draining TVL, and attract new investment.
Safety Index is the most significant optimization of the whole Defi industry. This is a smart auto-activated brake that slows down APR when the contract computes and foresees that whales may drain the TVL in days. If the contract find-out this risk, it will gradually reduce the APR of the already in-profit investments and this mechanism will increase x3 the time needed for TVL draining. So no whale can drain the system and a TVL crash event like mentioned above is not likely to happen.
As a result, all investors will have more time to continue earning and decide on their best strategy for each investment. This mechanism applies for Each Stake/Investment separately.
- For investment that has not reached 110% ROI: continue earning 3% to 6% ETH cash daily, and quickly turning profit. This earning rate is now higher than already-profited investments’ earning rate.
- For already-profited investments: From 110% ROI point, they have already made good profit, and can still continue to earn 150-300% ETH APR every day, right in the middle of this bear market where ETH APR is less than 10% per year in most staking sites.
- If the same investor makes a new investment. The new investment make your total deposit increased, so the 110% profit trigger will be delayed. The user continues earning 3% to 6% ETH cash daily, and quickly turning profit.
- Attracting new investors: this mechanism brings more opportunity for new investors to join the system and apply their best strategy to earn, because the TVL will keep on growing, which in turn is beneficial for everyone, and extend the earning time frame further.
Min-Max Invest: 0.01 ETH ($15) - 20 ETH ($30k).
Min. Compound: 0.008 ETH ($12.78) or 0.2 THOREUM-ETH LP
Fees: 8% deposit and 8% withdrawal fees (half of this will be distributed to Thoreum Bank lockers, half will be used for marketing).
Max Withdraw per Day: 2 ETH ($3000)
Max ROI per Wallet: 300%.
Whale Tax: This tax will be applied based on your stake percentage / total balance. <1% = no tax; 1% = 5; 2% = 10; 3% = 15; 4% = 20; 5% = 25; 6% = 30; 7% = 35; 8% = 40; 9% = 45; >10% = 50. These percentages are calculated on your total ownership of the pool. For example if the contract balance is 1000 ETH, you will be taxed as a whale if your total stake is more than 10 ETH.
✅ Audited by Thoreum team & The Stamp:
💡 Project: ETH Beans by Thoreum Team
🚀 Launch: 26/01/2023 2:00 pm
📊 Rating: 73/100
Protocol Risks (must read!) By interacting with the ETH Beans, you agree to have fully read and understood the associated risks with ETH Beans.
- Dividend payouts are fixed and the TVL fluctuations do not effect the daily yield like in traditional miners.
- Dividend payouts will take place while smart contract TVL is > 0. Please check contract balance and compound/withdraw according to your risk appetite.
The "Buy Beans" button combines the approve and deposit function. You can use it to buy beans by entering the amount you want to deposit and clicking the button. You will first need to confirm the approval transaction, and then another transaction will open to deposit your funds into ETH Beans.
Important information: Your deposit will be automatically converted to THOREUM-ETH LP and deposited into the Total Value Locked (TVL) and lock it. You will receive "beans" that represent your ownership of tokens, which will generate passive income.
Because THOREUM is a hyper-deflationary token the value of THOREUM-ETH LP tends to be higher in the long run. However, when the market price of tokens fluctuates greatly, the staking amount may be lower or higher than the staked amount, which is called Impermanent Loss.
- 1.If someone you refer (a colleague) makes a deposit, you will receive a onetime bonus. However, this bonus is only for the first deposit they make. So, if your colleague makes deposits of $10, $20, and $50, you will only get a bonus for the first deposit of $10. But if your colleague continues to deposit money and their total deposits reach 0.1 ETH($150), they will be considered a "Beantastic referral" and you will receive additional benefits (increased ROI).
- 2.It's also important to note that the 5% bonus you receive is not only for deposits over 0.1 ETH($150). You will receive a 5% bonus on any first deposit that your colleague makes, regardless of the amount.
DeFi is an unpredictable space where anything is possible. It's important to only stake amounts that you are comfortable with losing. ETH Beans offers flexibility and freedom to users, however, this also opens up the opportunity for users to drain the TVL. Pay close attention to our TVL and do not risk more than you are comfortable with.
No. The ETH Beans protocol was designed to be fully decentralized. This means the ETH Beans team has no access or control over TVL or Smart Contract balance. Users control the health and liquidity of the Smart Contract.