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USD Beans
USD 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. USD Beans allows users to invest in a rewards pool using BUSD and earn 3.5%-6.5% rewards daily.
USD Beans utilize the THOREUM-USD 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 300% in the last 2 months).
1. USD Beans Contract is fully decentralize & immutable.
2. USD Beans uses BUSD-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.
USD 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 BUSD (or BNB/THOREUM/ETH/etc.), the smart contract will automatically convert it to THOREUM-BUSD 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-BUSD 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-BUSD 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-BUSD LP increases 2 times after 5 months.
That means your real income increased by 2 times = 6.5% to 13% a day.
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 USD Beans is using THOREUM-BUSD LP to maximize your earning over time, after withdraw/collect you can use the Unzap button in the interface to unzap your LP to BUSD if you want. This just take 1 click and your LP will be instantly converted to BUSD!
The rebake function allows you to compound your current rewards. You must have at least 13.05 BUSD or 6 THOREUM-BUSD 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 BUSD 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.
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 from 3% to 2.5%. To get it back to 3%, 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 163.12 BUSD or 75 THOREUM-BUSD LP 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 USDBeans, ‘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 3.5% to 6.5% BUSD 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% BUSD APR every day, right in the middle of this bear market where BUSD APR is less than 10% 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 3.5% to 6.5% BUSD 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.
The minimum investment is 13.05 BUSD or 6 THOREUM-BUSD LP
The maximum investment is 32,623.64 BUSD or 15,000 THOREUM-BUSD LP
The minimum compound is 13.05 BUSD or 6 THOREUM-BUSD LP
There is a 10% deposit fee and a 10% withdrawal fee (half of which will be distributed to Thoreum Bank lockers, half will be used for marketing). The contract is fully decentralized, audited. Check the whitepaper for more details .
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 10,000,000 BUSD, you will be taxed as a whale if your total stake is more than 100,000 BUSD.
🛡No unstake function to give all investors a fair chance to earn and win. Unstaking is the main reason for the fall of many miner ROI projects. In normal miners with unstake function enabled (WC Miner, Wealth Mountain, etc.), whales can unstake 100% of their deposit at anytime, plus all of their uncollected earnings, leaving TVL at 0 in just a few hours or even few minutes. At USD Beans, we removed the unstake function, the only way for a user to get ROI is waiting for their staking rewards growth. This will protect all investors’ capital, giving all investors a fair chance to earn and win.
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Protocol Risks (must read!) By interacting with the USD Beans, you agree to have fully read and understood the associated risks with USD Beans.
Disclaimer:
- 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 USD Beans.
Important information: Your deposit will be automatically converted to THOREUM-BUSD 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-BUSD 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 $20, $50, and $100, you will only get a bonus for the first deposit of $20. But if your colleague continues to deposit money and their total deposits reach 163.25 BUSD or 75 THOREUM-BUSD LP, 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 163.25 BUSD or 75 THOREUM-BUSD LP. 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. USD 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 USD Beans protocol was designed to be fully decentralized. This means the USD Beans team has no access or control over TVL or Smart Contract balance. Users control the health and liquidity of the Smart Contract.
Last modified 1mo ago